Metalicity (ASX:MCT) reports that it has received ‘significant’ gold intersections following resource definition reverse circulation (RC) and aircore (AC) drilling at its Kookynie Project in WA’s Eastern Goldfields.
The recent drilling campaign was conducted to test around the thickest gold mineralised intersection to date and to also test the potential strike extensions within the project’s Champion deposit, as well as the Champion North and South Exploration Targets.
The results, generated by a combined total of 25 drillholes for 1,850m, demonstrate substantial extensions to the north and east of the original Resource, with ‘significant’ assays from the Champion Deposit including:
- Hole CPRC0044: 8m @ 3.86g/t Au from 94m, incl. 1m @ 17.75g/t Au from 96m
- Hole CPRC0046: 4m @ 1.82g/t Au from 85m, incl. 1m @ 3.93g/t Au from 86m
Key intercepts from the Champion North and South Exploration Targets include:
- Hole CPRC0055: 4m @ 1.79g/t Au from 76m
- Hole CPRC0064: 4m @ 1.24g/t Au from 32m
Speaking on the results, Metalicity CEO, Justin Barton said: “These results are another significant step in expanding and defining the Resource potential of the Kookynie Project.
“These results are another significant step in expanding and defining the resource potential of the kookynie project”
We remain committed to the Kookynie and Yundamindra Projects and continue to expand the footprint and highlight the significant prospective upside of these Projects.”
The company also notes that the four drillholes were drilled in proximity to the thick intersection of 28m @ 1.83g/t Au from 72m, with the results confirming that the Champion Orebody has discrete, ‘high-grade’ south plunging shoots representative of the other orebodies in the Kookynie area.
These south plunging shoots are reported to remain open at depth and hold ‘significant’ opportunities to extend the resource and drive further exploration targeting.
In addition, the results also indicate that the Kookynie and Yundamindra Projects remain highly prospective elements of the company’s exploration portfolio, alongside its recently acquired Mt Surprise and Georgetown lithium projects.
The Kookynie Gold Project is located about 60km south-southeast from the township of Leonora in WA’s Eastern Goldfields and comprises nine ‘significant’ prospects, including the historical Cosmopolitan Gold mine, which has produced 360,000 ounces of gold from 1895-1922 and was once ranked as one of Western Australia’s largest and most profitable gold mines. Other historical mining centres include McTavish Leipold, Champion, and Altona.
With results from the RC and AC drilling campaign now returned, Metalicity announces that it will move forward with one metre re-split sampling to assist in identifying any internal higher-grade zones of gold mineralisation within the ‘significant’ intersections.
All returned information will be interpreted to plan a follow up AC and/or RC drilling program to aid in future exploration.
Images: Metalicity Ltd
