Metalicity (ASX:MCT) - Managing Director, Justin Barton
Managing Director, Justin Barton
Source: Metalicity
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  • Metalicity (MCT) plans to “significantly” expand its current 9000-metre drilling program at the Kookynie gold project in the WA goldfields
  • The updated drilling program will include the under explored Mulga Plum prospect
  • The upgrade has followed a detailed review of previous drilling results and high-resolution aeromagnetic survey
  • Metalicity says the current program has progressed well with assays pending
  • MCT shares are up 18.2 per cent, trading at 0.7 cents per share

Metalicity (MCT) will be “significantly” expanding its current 9000-metre drilling program at the Kookynie gold project in the WA goldfields.

The updated drilling program will include the under explored Mulga Plum prospect.

According to the company, this expanded program could be a significant step change to the prospective size of the gold footprint.

The upgrade has followed a detailed review of previous drilling results and a high-resolution aeromagnetic survey has improved the understanding of the nature and location of structures that control gold mineralisation.

Recent results from Mulga Plum include two metes at 8.84g/t gold from 14 metres and two metres at 2.96g/t gold from 42 metres.

“We are simply getting on with the task at hand and looking to continue to create and accelerate shareholder value at the Kookynie Gold Project,” Managing Director Justin Barton said.

“The current drilling program of about 9000 metres has been progressing very well,
with some very encouraging alterations and rock types observed and we are now eagerly awaiting assay results.”

Over the past two and a half years, Metalicity has invested over $6 million in the project.

On the market this afternoon, MCT was up 18.2 per cent, trading at 0.7 cents per share at market close.

MCT by the numbers
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