- Metalicity (MCT) receives results from reverse circulation drilling at the Kookynie gold project in WA
- Latest results come from the Champion and McTavish prospects and have returned high grades, including up to 11.45g/t gold at Champion and 9.93g/t gold from McTavish
- Metalicity is pleased with one intercept from Champion as it marks the thickest intercept to date and indicates mineralisation extends to the north of historical workings
- Diamond drilling is progressing at the project and will support an updated mineral resource estimate
- Company shares are trading flat at 0.9 cents
Metalicity (MCT) has received results from drilling at the Kookynie gold project in Western Australia’s Eastern Goldfields region.
The latest results come from reverse circulation (RC) drilling at the Champion and McTavish prospects and, according to the company, returned significant widths and high grades.
Best results from the Champion prospect include 28 metres at 1.83 grams of gold per tonne (g/t) from 72 metres, which marks the thickest intercept to date at Kookynie.
The company said this result indicates an extension to mineralisation immediately north of the historical Champion underground workings where previous drilling intersected mineralisation.
Additional results include four metres at 3.97g/t gold from 59 metres including one metre at 11.45g/t gold from 60 metres, and three metres at 1.89g/t gold from 78 metres.
Metalicity will follow up these results with drilling in the new year.
Best results from the McTavish prospect include three metres at 4.06g/t gold from 36 metres and one metre at 9.93g/t gold from 60 metres.
Metalicity believes these results provide clarity and a better understanding of the nature of the mineralisation observed at McTavish.
CEO Justin Barton commented on the results from both areas.
“These results confirm what we have always believed with these prospects. With the diamond core progressing well, coupled with these results, we expect all of this to reflect positively on the mineral resource estimate currently underway,” he said.
Metalicity is conducting diamond core drilling which will support an upcoming resource update.
Company shares were trading flat at 0.9 cents at 2:30 pm AEDT.