Metalicity (MCT) will soon begin an aircore and reverse circulation (RC) drilling program at its Kookynie gold project about 60 kilometres south-south-east of Leonora in Western Australia.
The company said the step-out drilling campaign totalling an initial coverage of about 9,000 metres will be undertaken at the project’s Leipold, McTavish and Champion prospects as it looks to unearth potential extensions to known mineralisation.
It will test for structurally controlled, near-surface mineralisation anomalies within the regolith or weathered rock profile.
Initial drilling will probe targets within the Leipold-McTavish-Champion gold mineralisation trend that spans a combined strike length of three kilometres.
A detailed review of previous drilling results and high-resolution aeromagnetic surveys improved the understanding of the nature and location of structure that may control the gold mineralisation, according to Metalicity.
“This drill program is the first of many steps in expanding our exploration strategy to materially extend known mineralisation and discover new gold mineralisation in the Kookynie area,” Managing Director Justin Barton said.
“We know from what we have found to date that the area is heavily endowed, and it is a strategy that will assist Metalicity to improve and accelerate target identification and testing. This methodical approach to evaluating the tenure we hold at the Kookynie gold project is integral to developing the pipeline of prospects.”
MCT shares were trading 12.5 per cent lower at 0.7 cents at 12:52 pm AEDT.
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