Metalicity Prepares Drilling to Pursue High-Grade Gold Find at Yundamindra Project

Metalicity Ltd (ASX: MCT) will commence drilling in coming weeks at the highly prospective Yundamindra Project, approvals have been received.

This is the first time in a decade the project has been drill tested.

Extensive planning and accelerated approvals are also being sought for the highly prospective Pennyweight Point prospect, with historical highlights:

  • 8 metres at 56.36 g/t gold from 44 metres;
  • 4 metres at 26.14 g/t gold from 14 metres; and
  • 6 metres at 13.69 g/t gold from 46 metres.

The prospect remains open at depth and along strike.

Yundamindra is a key project to Metalicity being situated on a mining lease, with known high grade and near surface gold, and in close proximity to a number of gold mills.

Timing is perfect with gold trading at all time highs, with exploration success being rewarded in the markets.

Yundamindra details

The project is located 65 kilometres southeast of Leonora in Western Australia.

Metalicity holds 80% of the project, with joint venture partner Nex Metals Explorations Ltd (ASX: NEX) the remainder.

Yundamindra currently consists of nine historical highly prospective prospects, which had high grade production prior to 1970 of 74,000 tonnes at 19.3g/t gold for 45,000 ounces.

The project encompasses zones of gold mineralisation occurring along the margin of a regional scale hornblende-granodiorite batholith which intruded mafic lithologies.

CSA Global have completed a detailed review and compilation of available historical drill hole data which will assist in exploration planning.

Justin Barton, managing director, commented:

“Whilst frustrating to have been delayed due to weather circumstances outside our control, the delay has given our exploration team valuable additional time to review further historical data at Yundamindra and strategically plan our highly anticipated upcoming drill program.

“Drilling will initially focus on the western line with the Landed at Last and Bonaparte prospects, which have produced significant historical intercepts that remain open along strike and at depth.”

A historical highlight from Landed at Last delivered 2 metres at 23.29 g/t gold from 30 metres.

Pennyweight Point prospectivity

The company continues to accelerate approvals and planning for the highly prospective Pennyweight Point prospect, which has historically produced some of the highest grades and intercepts at the Yundamindra project.

Barton added: “It is anticipated that work is to commence on clearing tracks and drill pads in the coming days to enable mobilisation of a drill rig.”

The prospect is significantly more complex in geometry, style and mineralisation than other prospects at Yundamindra.

As a result, future drilling by Metalicity is critical to help further understand and extend known gold mineralisation.

Extensive planning has been undertaken for the prospect and the company is seeking to accelerate exploration approvals.




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