Champion returns consistent gold hits for Metalicity
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Metalicity continues to pile on the gold hits at its Kookynie project with drilling at the Champion prospect delivering consistent grades over good widths.
The company noted that 16 of the 24 holes returned a significant intercept with notable results of 12m at 2.04 grams per tonne (g/t) gold from a depth of 95m, 5m at 2.1g/t gold from 117m and 10m at 1.6g/t gold from 179m.
Metalicity (ASX:MCT) notes that the results bode well for the upcoming resource estimate for Champion, which is being calculated with the Leipold and McTavish prospects.
Drilling at Leipold and McTavish had not only returned high-grade gold, it also indicated that there is significant potential for similar high-grade lodes in the 2km gap between the two prospects.
“The number of significant widths and consistent grades returned at Champion add to the spectacular results recently returned at McTavish and Leipold, enhancing the exciting potential of these projects,” chief executive officer Justin Barton said.
“These results at Champion continue to define and expand the mineralisation and further validate the significant mineralisation already observed at all three prospects.
“All of this is very encouraging for the impending initial Resource Estimate; and is just the beginning for Leipold, McTavish and Champion with clear areas and targets defined for the next drilling program.”
Assays are still pending for 12 holes drilled at the Cosmopolitan prospect.
The company noted that the drill results from Champion are very close to the true widths for the mineralisation observed due to the nature of the mineralisation and the drilling angle.
Additionally, the mineralisation at the prospect is relatively shallow and remains open at depth.
Metalicity is currently finalising plans for its next drill program with a focus on McTavish and the 2km of untested strike between McTavish and Leipold.
This article was developed in collaboration with Metalicity, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.