Metalicity Limited (ASX: MCT) has moved swiftly to lodge tenement applications for four additional prospecting and exploration tenements in the rich Kookynie Area in the WA Goldfields region.
Managing Director and CEO, Jason Livingstone, said the company has also received notification that its applications for the Fraser Range North and two of the three Warburton tenements have now been granted.
“I am absolutely delighted we were able to peg and apply for this incredibly strategic and prospective tenure within the Kookynie Area,” Mr Livingstone said.
“We are making great strides towards consolidation of the Kookynie and Yundamindra Gold Projects through farm-ins and joint ventures, coupled with opportunistic pegging of ground to ensure that value is created for Metalicity Shareholders.
“With part of the Warburton and the Fraser Range North Projects being converted to live tenure, I look forward to working with the Traditional Owners to ensure access agreements are fair and equitable for all.
Metalicity is growing a pipeline of projects headed by our Kookynie and Yundamindra farm-in agreements with incredibly prospective greenfields acquisitions.”
Kookynie Gold Project
The E40/389 application consists of a single graticular block that was vacant. On 29th October 2019, Metalicity applied for this ground. There are no competing applications.
P40/1510 and E40/389 are situated within the Niagara Trend in the Kookynie District which has historically produced circa 75,000 ounces of gold.
Situated immediately south of the Desdemona area, which historically has produced circa 30,000 ounces of gold. While there is a competing application over this area, Metalicity is of the belief that, based on its application, the company is well poised to acquire this ground.
Similarly, with P40/1510 and E40/389, the regional geophysical surveys demonstrate a clear anomaly continuation that hosts significant mineralisation from the Desdemona area. While the application lies approx. 30 km north north-west of our focused Kookynie area, Metalicity believes that based on the structural continuation from known and prolific mineralisation at Desdemona the company decided to take the opportunity to acquire the tenement.
P40/1512 lies approx. 2.5 kilometres north of the company’s McTavish Prospect which has produced significant drill hole intercepts of four metres at 6.4 g/t Au from 67 metres including one metre at 15.47 g/t Au from 67 metres.
Metalicity has identified a structural corridor tracking north from the Leipold/McTavish trend that encompasses P40/1512 and potentially hosts the demonstrated mineralisation.
Warburton E69/3680, E69/3681 & E69/3682:
Two of the three tenements (E69/3681 and E69/3682) have been approved and are now allocated “live” by the West Australian Department of Mines, Industry Regulation & Safety (DMIRS).
E69/3680 is still being processed by DMIRS and is subject to an objection by the Traditional Owners while E69/3681 and E69/3682 remain subject to negotiating and agreeing to an access agreement with the Traditional Owners.