Metalicity extends McTavish gold zone towards Leipold

Metalicity’s McTavish prospect is now thought to extend along strike for 2km to the south after first assays from its 2021 drilling returned up to 1m at 52.8g/t gold.

The intercept is within a broader zone of 3m grading 19.1 grams per tonne (g/t) gold from 88m in McTRC0044 and is directly down plunge of previous high-grade hits such as 5m at 17.9g/t gold from 48m including 1m at 80.17g/t gold.

Metalicity (ASX:MCT) noted that the backlog of assays is currently being cleared with news flow expected over the coming weeks. Assays for 85 holes are currently pending.

Maiden JORC resource estimation work is also underway for the Leipold, McTavish and Champion prospects within the Kookynie project in Western Australia’s Eastern Goldfields region.

“With our continued exploration efforts at McTavish, we appear to have defined two distinct zones of mineralisation at McTavish that have a significant high-grade component or domain to them,” managing director Jason Livingstone said.

“This is exciting with McTRC0044 confirming the significant down plunge extent of this very high-grade zone.

“McTavish is proving to be a consistent mineralisation zone within this prolific trend that extends 2km south to our Leipold Prospect.”

mctavish metalicity gold cross section — McTavish section with recent drilling results. Pic: Supplied

Executive changes

With Metalicity achieving the 51 per cent earn-in of the Kookynie and Yundamindra gold projects, the company is shuffling its executive management as it takes the role of manager of the joint venture with Nex Metals (ASX:NME).

Current managing director and chief executive officer Jason Livingstone will step away from those roles and become the company’s technical director with a focus on expediting the ongoing exploration and development of its gold projects.

Finance director Justin Barton will take over as the CEO and become responsible for all corporate and commercial matters.

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.