- Metalicity's (MCT) shares have skyrocketed 100 per cent on the market after announcing it will recommence drilling at the Kookynie Gold Project in WA
- The gold explorer is aiming to confirm and extend high-grade mineralisation zones that were identified earlier this year
- Metalicity is now finalising a drill contract and expects drilling to begin in the next two weeks
- Company shares have skyrocketed 100 per cent on the market and are trading for 0.4 cents each
Metalicity (MCT) will soon commence a drilling program at the Kookynie Gold Project which is located about 50 kilometres south of Leonora in Western Australia.
This reverse circulation (RC) drilling program is following up previously reported high-grade results from a drilling program at Kookynie in January this year.
The gold explorer is aiming to confirm and extend mineralisation zones, primarily at the Leipold and McTavish prospects. These prospects sit approximately three kilometres to the west of the historic, high-grade Cosmopolitan mine.
High-grade results from McTavish include five metres at 17.9 g/t gold from 48 metres, including one metre at 80.17 g/t gold from 51 metres. Leipold returned six metres at 9.4 g/t gold from 26 metres, including two metres at 19g/t gold from 26 metres.
"I am very pleased to be announcing that we are re-commencing fieldwork at the prolific Kookynie Gold Project. The results we published in January 2020 were spectacular and I have been incredibly eager to follow these up," Managing Director Jason Livingstone said.
Metalicity is now finalising a drill contract and expects drilling to begin in the next two weeks.
"I look forward to keeping our shareholders and the market in general updated as we continue to develop this amazing gold project," Jason added.
Company shares have skyrocketed 100 per cent on the market and are trading for 0.4 cents each at 12:25 pm AEST.