Metalicity (ASX: MCT) has delivered another set of high-grade, near surface gold hits at the Kookynie gold project in Eastern Goldfields, Western Australia.
The company has now received all assays for the Phase One drilling programme, which has confirmed outstanding and extensive high grade, near surface gold mineralisation at the Leipold and McTavish prospects.
Most recent results from McTavish include 2 metres at 14.11 g/t gold from 39 metres including 1 metre at 19.42 g/t gold from 39 metres and 5 metres at 4.17 g/t gold from 20 metres.
At Leipold, latest results include 8 metres at 4.05 g/t gold from 59 metres and 2 metres at 8.52 g/t gold from 43 metres.
Metalicity, along with joint venture partner Nex Metals (ASX: NME), will be returning to Leipold and McTavish to continue to expand the mineralisation observed as part of a larger, more aggressive drilling programme later this month.
The results we have returned demonstrate thick, continuous high-grade mineralisation at very shallow depths that is open in all directions,” Metalicity Managing Director Jason Livingstone said.
“Our Phase Two Drilling Programme, currently being implemented, will initially look to significantly step out around Leipold to drill out just over 1 kilometre of strike length. Let alone following up and extending McTavish, and further expanding and drill testing Champion and the DCC Trend demonstrates that very exciting times are ahead.”
Shares in Metalicity were trading on Friday at 3.5c, up 17%.