Metalicity Limited (ASX: MCT) has completed the initial phase of a sizeable drilling programme at its quality Kookynie Gold Project near Leonora in Western Australia.
The three hole programme for a total of 270m of reverse circulation (RC) drilling has been completed at Kookynie to confirm zones of known mineralisation.
Metalicity Managing Director, Jason Livingstone, said a recently completed drilling in June and July this year supported the company’s interpretation of the controls of mineralisation.
He added that the new drilling on the Champion, Leipold and McTavish Prospects was designed to also test mineralised cross cutting (east-west) structures that control the main north-south mineralised trends that host the historical workings and historical drill hole intercepts.
“We are pleased to have completed this initial phase of drilling ahead of our larger, planned drilling campaign for the Kookynie Project of which the current rights issue is designed to fund,” Mr Livingstone said.
“Money from the placement was used for this programme and is an integral step as part of our methodical approach to exploration and development. I look forward to presenting the results from this drilling in due course and performing a larger, more comprehensive drilling programme after the conclusion of the rights issue.”
The company said it expects results from this drilling programme to be available at the end of September 2019.