Special Report: Initial results from Metalicity’s 2020 drilling program have highlighted the potential of its Kookynie project in WA to be a prolific, open pittable gold mine.

All but one of the 11 drill holes intersected significant gold mineralisation with a top result of 4m at 16.3 grams per tonne (g/t) gold from 42m, including 3m at 20.7g/t gold from a depth of 42m.

Results above 5g/t gold are generally considered high-grade.

Metalicity (ASX:MCT) says the results confirm significant and extensive high-grade, near-surface mineralisation at the Leipold prospect.

The results from the remaining 33 holes over the Leipold and McTavish prospects are due for release in the coming weeks.

The June 2020 phase-one drilling program was designed to step out and continue to confirm the mineralisation observed in earlier drilling.

It is also intended to confirm and continue the step out from historical drilling at both the Leipold and McTavish prospects.

Managing director Jason Livinstone says that all of the company’s drilling programs to date have managed to intersect the mineralised structure at all prospects.

“With every drill hole completed we continue to illustrate that the Kookynie gold project has the potential to be a prolific gold area,” he added.

“Again, these results are very shallow, which if converted to resources and reserves, could be potentially open pittable.”

Kookynie prospect locality map with mineralised trends Pic: Supplied

The Kookynie project in WA’s Eastern Goldfields region is covered with a thin, ~5m thick ‘sheetwash’ that traditionally hid the geology from old time miners.

While the current drilling is focused on the high-grade, previously mined Leipold and McTavish prospects, there are five other prospects that make up the DCC Trend.

Of these, the historical Cosmopolitan mine produced 360,000 ounces of gold at an average 15g/t of gold between 1896 and 1922.

Significantly, a recent review of historical data has revealed upside within areas previously thought to be exhausted and ‘mined out’.

Metalicity also identified a further 8km of strike through mapping and re-processing of regional geophysics, prompting the company to carry out a high definition drone magnetic survey to refine targets for drill testing.

Additionally, there is potential for more gold along the Altona Trend about 1.5km to the east, which plays host to the historical Altona workings that produced 80,000 ounces of gold at a grade of 30g/t.

This has prompted the company to apply for a further 4,200 hectares of ground, which will take its total landholding to over 11,000 hectares.

>> Now listen: Explorers Podcast: WA’s historic Kookynie is a hotspot for high-grade gold and grade-A steak sandwiches


This story was developed in collaboration with Metalicity, a Stockhead advertiser at the time of publishing.
This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.