Assays Up To 118 g/t Au At Kookynie Gold Project
Metalicity Limited (ASX: MCT) has received very high-grade assays results for the Leipold Prospect at the Kookynie Gold Project in the Eastern Goldfields, Western Australia, approximately 60 km south southwest of Leonora.
Managing Director, Jason Livingstone said the first deeper holes at Leipold have confirmed extensions to mineralisation down dip.
“The results received to date confirm the down dip extensions to the mineralisation observed at Leipold, which is highly encouraging,” Mr Livingstone said.
“The confirmation of down dip extensions of very high-grade lodes intercepted by LPRC0107 where an interval of 2.0 metres at 59.9 g/t Au from 147 metres that also included a spectacular result of 118.4 g/t Au.”
“In January 2021, we commissioned an external mineral resource consultant to start the process of re- estimating current pre-2012 mineral resources at Leipold, McTavish and Champion. This provided an external review to our drilling, and detail opportunities to potentially expand an estimation at each of the prospects; Leipold, McTavish and Champion.
“Therefore, our aim is to complete the required drilling and produce this estimate. Hence, the results returned so far illustrate a highly mineralised and continuous system that bodes well for the estimation process and reporting of the tonnes and grade in due course.”
“Assay turnaround still hampers our work, and I do sincerely apologise for this fact. However, we are drilling at highly prospective areas and look forward to continuing the good news flow. I do however encourage people to email me if they do have questions and I will do my best to answer questions expeditiously and within disclosure rules.”
Latest highlighted results include:
- LPRC0107-2m @ 59.9 g/t from 147m (inc l.1 m@ 118.4 g/t Au from 147m; and 4m @ 3.7g/t Au from 151m (incl. 1m @ 11.6g/t Au from 151m),
- LPRC0109 – 3m @ 4.2g/t Au from 137m (incl. 1m @ 9.4 g/t Au from 137m,
- LPRC0098 – 5m @ 3.8g/t Au from 92m (incl. 2m @ 6.7 g/t Au from 92m).
The company believes the down dip extensions have the potential to significantly increase mineralisation envelopes at Leipold representing a step change to the prospect.
Kookynie is located 60 kilometres south south-east from Leonora, Western Australia and is host to nine, significant prospects; Champion, McTavish, Leipold, Altona, Mulga Plum, Wandin, Diamantina, Cosmopolitan and Cumberland. Diamantina, Cosmopolitan and Cumberland are known collectively as the DCC Trend.
The company has a significant backlog from previously drilled prospects that has been designed to extend known mineralisation in preparing and stating updated mineral resource estimates for the Leipold, McTavish and Champion Prospects.
The latest results continue to define and expand the mineralisation observed at Leipold. As mentioned earlier, the programme at Leipold (and McTavish and Champion), has been designed off the back of a preliminary mineral resource work conducted in January 2021.
The tenure and extent of the returned mineralisation bodes exceptionally well for this impending mineral resource estimate at Leipold, and the company has observed similar structures at Champion and McTavish that correlate with previously observed mineralisation.
The company is waiting on the assays to finalise the drill hole database and commence the resource estimation for Leipold.