Jubilant Metalicity hits widest intersection at Champion prospect
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Metalicity strikes a home run at Champion, while diamond core drilling is progressing at McTavish, with two diamond tails completed as mineral resource beckons.
Metalicity has hit its widest intersection to date of 28m at 1.83 g/t gold from 72 metres at the Champion prospect within the Kookynie Gold Project in the eastern Goldfields region of Western Australia.
These sorts of widths have not been displayed at Champion previously and indicate a significant extension to the mineralisation north of the historical Champion underground workings.
Reverse circulation (RC) drilling results have come in, with other high-grade intersections including 4m at 3.97 g/t gold from 59m and 3m at 1.89 g/t from 78m.
Final assays from RC drilling at the McTavish prospect have also been returned, showing consistent grades over good widths and close to surface such as 3m at 4.06 g/t gold from 36m and 1m at 9.93 g/t from 60m.
Metalicity (ASX:MCT) says diamond core drilling is also progressing well at McTavish with two diamond tails completed as part of the mineral resource estimation work.
Assays are pending for all diamond holes.
MCT chief executive officer Justin Barton says the results confirm what the company has always believed with these prospects.
“With the diamond core progressing well, coupled with these results, we expect all of this to reflect positively on the mineral resource estimate currently underway.
“Our technical team has done an incredible job of simply getting on with the task at hand under the direction of the Metalicity board and we continue to deliver our credentials in creating value, value which we believed would be best realised under one entity.”
MCT says a big revision of the mineral resource estimate is already underway factoring the new results and a new, follow-up drilling program is being developed.
Density measurements from the core are also being completed and will form the basis for the tonnage aspect of the mineral resource estimate.
Metalicity expects these to be completed momentarily with metallurgical test work also expected to be finalised by mid-December 2021 as well.
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.