Metalicity (ASX: MCT) has achieved outstanding initial drilling results from recent drilling programme at the Yundamindra gold project in the Eastern Goldfields, Western Australia.
“First assays from our maiden drilling programme at Yundamindra have provided excellent results, with impressive high grade thick intercepts, over 10 metres in places, at the Landed at Last Prospect, aligning with historical drilling,” Managing Director, Justin Barton, said.”
To have also confirmed extensions to the mineralisation down dip, which remain open at depth and have hit a significant 5m high grade mineralised zone, some 50m from nearest historical drilling, is very exciting and provides great optimism for the unlocked potential of this project.
“We eagerly await the balance of the assays results from the Bonaparte and Golden Treasure prospects and are looking forward to expanding on these results with the next phase of drilling commencing shortly.”
The company said the Eexcellent results validate historic drilling and confirm mineralisation.
32 RC drillholes into the gold prospect of Landed at Last has confirmed gold mineralisation, with 20 holes returning significant intercepts as well as numerous other smaller gold intervals.
Gold mineralisation at Landed at Last is currently very shallow (<100m below surface) and has a current interpreted total strike length of over 750m with mineralisation open at depth and along strike.
Given the last drilling was undertaken over 10 years ago, Metalicity has taken a measured approach to commencing exploration activities at Yundamindra. A campaign of confirmation drilling to confirm gold grades and intersections as well as extensional drilling has been undertaken to validate and help improve in the precision of historical data and for viability in respect of any future JORC compliant resource estimations.
Importantly, not only did the company’s drilling correlate with historical intercepts and high grades, in specific areas the drilling programme extended mineralisation at depth down the dip of the orebody.
Four key drillholes of YMRC0005, YMRC0014, YMCR0016 and YMRC0018 have all extended mineralisation at depth beyond the last historical drillhole in that section. These extensions remain less than 100m below surface which could potentially indicate significant gold mineralisation open at depth and two cross sections have been designed to highlight the extension of mineralisation at depth.
Next Steps
Metalicity aims to conduct further drilling to test the gold mineralisation at depth and other areas of Landed at Last, Bonaparte and Golden Treasure where current drilling data is limited and potential for further discoveries exist.
Programme of Work (POW) applications for new drilling at Pennyweight Point as well as further confirmation and extensional drilling at Landed at Last. POW applications have also been submitted for a number of other gold prospects and greenfields targets at the Yundamindra Gold Project.
Metalicity will utilise the sampling quality assurance and quality control (“QAQC”) and precision from this current drilling programme to conduct a comparison with available historical data.
Pending the results of the sampling QAQC review, Metalicity is planning to conduct a campaign of “twinning” more RC drillholes with historical drilling to further increase the confidence in the significant amount of existing drillhole data for Yundamindra, which may be able to be then utilised for a mineral resource estimate.
