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Metalicity (ASX:MCT) - CEO and Executive Director, Justin Barton
CEO and Executive Director, Justin Barton
Source: Metalicity
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  • Metalicity (MCT) receives the final assay results from its recent drilling program at the Cosmopolitan Gold Mine in Western Australia
  • Results have been received for 12 holes with grades peaking at 7.7 grams of gold per tonne (g/t)
  • Metalicity is now finalising plans for its next drilling program which includes the McTavish Prospect where up to 25.9g/t has been previously intersected
  • Focus will also be on the untested two-kilometre strike between McTavish and Leipold, which Metalicity believes could link up into one bigger system
  • Shares in Metalicity are down 9.09 per cent and are trading at one cent at 11:15 am AEST

Metalicity (MCT) has received the final assay results from its recent drilling program at the Cosmopolitan Gold Mine in Western Australia.

Cosmopolitan is part of the Kookynie Gold Project which lies roughly 180 kilometres north of Kalgoorlie and 50 kilometres south of Leonora.

Results have been received for 12 holes with seven of them returning significant intercepts.

Best results include one metre at 7.7 grams of gold per tonne (g/t) from 208 metres, one metre at 5.4g/t gold from 193 metres; and one metre at 4.4g/t gold from 183 metres.

CEO Justin Barton is encouraged by these initial results and is looking forward to further programs.

“These were the first 12 holes drilled by Metalicity at Cosmopolitan and we are highly encouraged by the initial results and more work is now planned to test potential extensions to the historic high-grade mineralisation that was mined here,” Mr Barton commented.

“The results were not what we were expecting given the detection of visible gold during drilling.”

“Although incredibly frustrating, this does provide us with significant encouragement that the drilling results at Cosmopolitan potentially understate the gold recovered recently and historically.”

Metalicity is now finalising plans for its next drilling program which includes the McTavish Prospect where up to 25.9g/t has been intersected previously.

Focus will also be on the untested two-kilometre strike between McTavish and Leipold which Metalicity believes could link up into one bigger system.

Shares in Metalicity were down 9.09 per cent and trading at one cent at 10:33 am AEST.

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