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Metalicity Ltd.
Summary
| Project: | Kookynie | |
|---|---|---|
| Deposit: | DCC Trend | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/31/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 31-7-2019: Metalicity Ltd. announces an Exploration/Drilling Update report for its DCC Trend deposit at the Kookynie project. Drilling results incl. 2m @ 22.1g/t Au from 76m. Metalicity Limited (ASX: MCT) (“MCT” or “Company”) is pleased to announce the re | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Jason Livingstone (Internal) | |
| ABSTRACT: | Metalicity Limited (ASX: MCT) (“MCT” or “Company”) is pleased to announce the return of significant intercepts from the initial drilling programme confirming mineralisation extends past previously developed and drilled areas for the Kookynie Project in the Eastern Goldfields, Western Australia. Commenting on the drilling results, Metalicity Managing Director, Jason Livingstone said: “Our drilling programme was designed to test whether the historical drilling has defined the limits of the known mineralisation. Having stepped out and targeted the gaps, we have confirmed that mineralisation is present well past the constraints of the previously drilled areas. This programme has allowed us to reach a substantiated decision point to start planning for a high-grade resource development phase.” “The high hitratio of mineralised intercepts for holes drilled is testament to the prospectively of the project. With a more substantial drill programme, more higher-grade results can be expected.” “This is exceptionally exciting to confirm and extend the mineralisation at the known prospects, our drilling, especially the diamond core drilling, and mapping, has highlighted the significant strike extents of the untested DCC Trend. In addition, the parallel structure, the Altona historical workings, has received little to no modern exploration attention whilst having historically produced nearly 90,000 ounces.” “Together with our farm-in partner, Nex Metals Explorations Ltd, we have the opportunity to move quickly into a systematic, resource development phase on the areas of known mineralisation, coupled with testing the strike extents of all the Prospects. To the north of Cumberland, we have 2.6 kilometres of structure to test, to the south of Diamantina, 1.8 kilometres, let alone the Altona area which hosts 3.7 kilometres of structure. To juxtapose this against that the main DCC Trend, where 360,000 ounces has been produced, is hosted in 1.4 kilometres of this structure. We have not only confirmed that mineralisation exists and extends in the historical areas, but still have around 8 kilometres of the same or similar structure to explore.” | |
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