First results close from gold drilling at Metalicity’s Kookynie project

Special Report: Metalicity’s phase-two drilling program at its Kookynie gold project in WA’s Eastern Goldfields region is progressing well with first results expected early next week.

Over 40 holes totalling 2,886m have been drilled to date, all of which have been around the Leipold prospect.

Depending on the outcome of the pending results and interpretation of data from the drone magnetic survey, Metalicity (ASX:MCT) may expand the 5,000m drill program.

There is also potential to add a second rig to fast track drilling.

“I am pleased with the progress being made with the drilling to date at the Kookynie gold project, however, with the amount of activity in the eastern goldfields at present, turnaround times on laboratory services are affected as they are inundated with work,” managing director Jason Livingstone said.

“Nevertheless, results are pending, and I look forward to presenting those in due course, let alone our continued efforts over the Kookynie gold project.”

Targeting a maiden gold resource

The most recent drilling follows on from the successful 2020 phase-one program, where 32 of the 44 holes returned significant hits of 4m at 16.3 grams per tonne (g/t) gold from 42m at Leipold and 2m at 14.11g/t gold from 39m at the McTavish prospect.

All work to date has been aimed at converting at least part of the exploration target of between 294,000 ounces and 967,000 ounces of gold into JORC 2012 compliant resources.

Drilling will initially look to expand the gold zone around the Leipold prospect to just over 1km of strike, as well as expand the known mineralised strike at McTavish from ~200m to between 400m and 500m.

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.