- Metalicity (MCT) has received assay results from 10 holes at the Leipold prospect at its Kookynie Gold Project in WA
- The drilling has confirmed extensive high-grade gold which continues to the south and down-dip with gold grading up to 28.82 grams per tonne
- So far, 79 holes have been drilled across the Leipold, McTavish and Champion prospects to step out and confirm mineralisation
- Metalicity hopes to use the results to develop JORC 2012-compliant mineral resource estimates
- Assays for 28 holes are pending and the next batch of assays are expected sometime this month
- Company shares are trading flat at 2.3 cents in early afternoon trade
Metalicity (MCT) has received assay results for another 10 holes of its extended drilling program conducted at the Kookynie Gold Project in Western Australia.
So far, drilling has confirmed significant and extensive high-grade gold mineralisation at the Leipold prospect that continues to the south and down-dip.
So far, the company has completed 78 drill holes for 5784 metres across the Leipold, McTavish and Champion prospects.
Drilling is aimed at significantly stepping out and confirming previously-identified mineralisation. Metalicity hopes to develop JORC 2012-compliant mineral resource estimates in the future.
Best results include two metres at 22.96g/t gold from 140 metres including one metre at 28.82g/t gold from 140 metres and five metres at 5.42g/t gold from 94 metres including two metres at 10.84g/t gold from 94 metres.
"Leipold is shaping up to be incredibly consistent with regards to mineralisation," Managing Director Jason Livingstone said.
"As the drilling continues, we will continue to assess the zones that remain open with expanded efforts at our other 'known' prospects of Champion, McTavish, DCC and Altona Trends," he added.
Out of the 78 holes drilled so far, assays have been received for 50 holes with a further 28 holes pending. The next batch of assays results is expected to be due this month.
Metalicity will expand the drilling program to evaluate Champion, Fortuna, Altona and to return to the Cosmopolitan gold mine area.
Company shares are trading flat at 2.3 cents in early afternoon trade.