Metalicity zeros in on significant anomaly at Kookynie gold project
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Special Report: Metalicity has delivered another round of high-grade assay results for gold from drilling at its Kookynie project in WA’s Eastern Goldfields region.
The latest round of drilling in 14 holes at Metalicity’s (ASX:MCT) McTavish prospect has revealed numerous hits for gold, including 3m at 5.25 grams per tonne (g/t) for gold at 69m.
Another significant hit for McTavish was 4m at 4.2 g/t for gold from 62m.
“The intercepts returned from McTavish are incredibly encouraging,” managing director, Jason Livingstone said.
“The results from just north of the Leipold pit were in line with observations from the drill chips, however, the drilling to date continues to illustrate the well-endowed area that is the Kookynie gold project,” said Livingstone.
McTavish is about 2km north and along strike from Leipold and a significant anomaly has been defined between the two mineral prospects that is set to be drilled soon.
For Leipold, drilling results for 10 drill holes released in early October showed impressive hits such as 2m at 22.96 g/t gold from 140m and 2m at 10.84 g/t gold from 94m.
The company has completed 78 drill holes for 5,784m at its Kookynie project, including 55 drill holes for its Leipold prospect of which 36 holes contained significant intercepts for gold.
Drilling has restarted at the Altona prospect within the Kookynie project where Metalicity has already drilled 24 holes for which assay results are pending.
The company is also waiting to receive results for nine drill holes at its Champion prospect.
Altona is a historic production area that supplied 88,700 ounces of gold from 1900 to 1965 at an average grade of 30 g/t and is 1.5km from the Cosmopolitan gold mine.
“As we progress through the resource definition phase for Leipold, McTavish and Champion by upgrading and expanding the pre-2012 JORC mineral resource estimates, we are making great strikes at the Altona prospect which is showing encouraging signs already,” said Livingstone.
The company has received the go-ahead to drill a significant 1.3km-long geophysical anomaly along strike from the historic Cosmopolitan mine that yielded 360,000 ounces between 1896 and 1922 at an average grade of 15 g/t gold.
A second drill rig starts to test these significant anomalies and to accelerate drilling across the wider Kookynie project in the coming weeks.
Kookynie is host to seven significant gold prospects, Cosmopolitan, Cumberland Diamantina (the DCC trend), Champion, Leipold and McTavish, and Altona.
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.