Metalicity Limited (ASX: MCT) is preparing for a maiden drilling programme at its 80% owned Yundamindra Gold Project in the Goldfields of WA.
After being delayed by extensive road closures due to unexpected weather damage in the Goldfields Metalicity has successfully obtain initial drilling approvals for its Yundamindra Project.
It has also completed an extensive review of historical drill hole data, in preparation for the company’s first drilling at Yundamindra in over 10 years.
“This will be the first drilling in over 10 years at Yundamindra, which has historically produced high grade, close to surface gold. With a number of mills in close proximity to our projects and gold prices at record high prices, this provides the Company with a unique and very exciting opportunity,” Managing Director Justin Barton said.
“Whilst frustrating to have been delayed due to weather circumstances outside our control, the delay has given our exploration team valuable additional time to review further historical data at Yundamindra and strategically plan our highly anticipated upcoming drill program.
Drilling will initially focus on the western line with the Landed at Last and Bonaparte prospects, which have produced significant historical intercepts that remain open along strike and at depth.
“In the meantime, the company continues to accelerate approvals and planning for our highly prospective Pennyweight Point prospect, which has historically produced some of the highest grades and intercepts at the Yundamindra project.
“It is anticipated that work is to commence on clearing tracks and drill pads in the coming days to enable mobilisation of a drill rig.”
Yundamindra Gold Project
The Yundamindra Project currently consists of nine historical highly prospective prospects which had high grade historical production prior to 1970 of 74kt @ 19.3g/t Au for 45,000 ounces.
Drilling will initially focus on the western line with Landed at Last and Bonaparte prospects, which have produced significant historical intercepts that remain open along strike and at depth and are within close proximity to a number of mills.
