Metalicity finds the right targets at its Kookynie gold project in WA
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Special Report: East Goldfields exploration company Metalicity is patiently anticipating assay results for its latest round of drilling at its Kookynie gold project in WA.
The drilling program targeted several highly prospective targets in Metalicity’s (ASX:MCT) Kookynie gold project and resulted in the completion of 86 drill holes for a total of 7,464m.
Among the Kookynie prospects systematically targeted by the company is the historic Altona mining centre, Cosmopolitan North, Orient Well East and Leipold North.
“We have a plethora of quality targets within the Kookynie gold project, and we are making inroads into consolidating the province with the recent acquisition of the Mulga Plum and Batavia areas that complements our already highly prospective tenure,” managing director, Jason Livingstone, said.
The Kookynie project is host to eight significant gold prospects that include Altona, Champion, the DCC Trend, Leipold, McTavish, Mulga Plum, Orient Well East, and Wandin.
Metalicity had a list of ~25 exploration targets for its drilling program that started in October, including the Altona mining centre for which 24 holes were drilled.
The historic Altona mining centre at the Kookynie project produced 88,700 ounces of gold between 1900 and 1965 at an average head grade of 30 grams per tonne (g/t) gold.
The Cosmopolitan North prospect had 21 drill holes and is located 2km north of the historic Cosmopolitan gold mine that produced 360,000 ounces of gold at an average head grade of 15 g/t gold over 26 years up to 1922.
Leipold North, another target, received 26 drill holes to test extensions to the north of a previously successful drilling campaign which confirmed a strike length of 700m.
Orient Well East had 15 holes drilled, and is adjacent and along strike to the Ulysses/Orient Well mineral resource of 7.1 million ounces at 3.3 g/t gold for 760,000 ounces.
The company’s methodical approach to exploration for its Kookynie gold project is the cornerstone of Metalicity’s strategy and it is starting to pay off for shareholders.
“We will continue our methodical approach on this project and are excited to be developing, in what is emerging to be, a premier district in the Eastern Goldfields,” said Livingstone.
Assay results for the latest drilling activity are expected imminently, said the company.
“While we would have liked some assays returned by now, we should see a steady stream of results for the next few months as we have stepped up drilling efforts,” he said.
“The exploration boom that Western Australia is facing is fantastic for the industry, but is hindering drill rig scheduling and assay turnaround times,” Livingstone added.
Drilling is set to continue at Kookynie up to Christmas, and resume in mid-January 2021.
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.