Reports Visible Gold In First Hole Near Cosmopolitan Gold Mine
Metalicity Limited (ASX: MCT) has intersected visible gold in the first hole in its campaign at Cosmopolitan Gold Mine within the Kookynie Gold Project in Western Australia.
The company has two drill rigs are currently operating at the Leipold Prospect and the Cosmopolitan Gold Mine, including targeting the northern strike extent and down plunge aspects of the Cosmopolitan-Cumberland area has returned an interval with visible gold present
Kookynie is located 60 km 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.
Managing Director, Jason Livingstone, said the company regarded drilling visible gold so early in the programme as incredibly exciting and said it demonstrates the potential of the Cosmopolitan Gold Mine to host significant mineralisation in and around historical workings.
“What a phenomenal way to start the years’ exploration. Visible gold in RC chips is always an exciting development in a drilling programme, however, we await assays to truly quantify the actual gold content,” Mr Livingstone said.
“The current back log of samples is scheduled to be delivered to us early next week. The assays pending will assist us in understanding the regional prospects of Orient Well East, Cosmopolitan North, Leipold North and extensional work around McTavish.
“The drilling in those areas to date has been invaluable in understanding the regional framework of the Kookynie Gold Project and geological observations to date have assisted in aiding the interpretation of the drone magnetic survey and where to focus our efforts moving forward in the efforts of a material discovery.”
“Nevertheless, the assays will be released in due course, but the start we have observed for the 2021 drilling programme is simply magnificent in being able to target areas of the Cosmopolitan Gold Mine that have not been developed and returned samples with visible gold.”
The current programme at the Kookynie Gold Project is designed to follow up on the phenomenal drill hole results to date through step out and infill drilling at the Leipold Prospect, and to finally start assessing the prolific Cosmopolitan Gold Mine.
“As the company progresses this drilling programme, we expect to gain an understanding of the tenure of mineralisation present, and extents of remnant mineralisation observed in historical maps,” Mr Livingstone said.