A successful capital raising has flicked the switch for Metalicity Limited (ASX: MCT) to immediately progress the next phase of drilling at the Kookynie gold project in the WA Goldfields region.
Earlier this month, Metalicity received a firm commitment from a new investor for $203,063 via a share placement.
With funds in the bank, Metalicity’s immediate focus is to explore and develop Kookynie.
Managing Director and CEO, Jason Livingstone said planning for the next drilling campaign has already commenced, with the aim of seeking to identify locations prospective for gold mineralisation that has not been adequately tested through historical exploration.
Mr Livingstone said that following recent high-grade gold results the company expects to be drilling within the next few weeks.
The recently completed placement is a fantastic endorsement of not only the Project, but also how we and our farm-in partner, Nex Metals are developing the Kookynie area,” Mr Livingstone said.
“Coupled with the recent results of our very short drilling programme in September, I am excited to be potentially presenting more results in 2019.”
