Ann: Spectacular High Grade Results from First Assays at Kookynie, page-579

So proved up another truck load of gold today at shallow depth ( 15 to 58m ) and extended the known strike zone which is still open in all directions.

No we didn't see hits of 20g/t as the previous set of assay results provided so spectacularly, we did however see quality gold grades over substantial widths from very shallow near surface such as 10 metres @ 3.21g/t Au from 26 metres, that would make most exploration companies green with envy.
Management have identified over 2.2 Km's of strike zone for the Leipold deposit alone, imagine if they keep hitting those grades across 2.2km's of strike and that shallow. That is a lot of Gold that can be mined very cheaply!

Did those results today justify a $7 Million drop in MC value? The market has spoken and other factors such a drop in the Gold price did not help.

Management have been extremely positive and happy with the results so far, and rightly so!

● Mineralisation remains open in all directions at Leipold.
● The southernmost hole drilled by Metalicity to date (Hole LPRC0032 10 metres @ 3.21 g/t Au from 26 metres), has extended the known mineralisation at the Leipold Prospect to a total of 0.5kms with a further 2.2kms of strike to the North and South, that remains relatively untested.
● Assays are pending for the remaining 15 drill holes which are due in the coming weeks with multiple holes intersecting visual quartz veining and alteration over good widths.
● With the outstanding drilling results from the first 29 holes, Metalicity now plans to recommence drilling shortly to continue to test the known prospects and develop drill targets within the further 8 kilometres of strike extensions to known high grade, near surface mineralisation.
● Drone Magnetic Survey completed for the Leipold-McTavish, Champion, Cosmopolitan and Altona Trends complete, with results to be released shortly and which will further refine new targets for the upcoming drilling programme.

So we have plenty of news flow expected in coming days/weeks to stimulate the share price once again on further positive news.

1/ Assay results pending for further 15 holes, multiple have visual quartz veining present over good widths.

2/ Drone magnetic Survey results pending.

3/ Upcoming drilling campaign targeting the very high grade historical Cosmopolitan Mine area and the Altona historical trend zone.

4/ NME today mentioned in their CR release today some funds would be put towards processing of the Cosmopolitan Mine gold tailings. Do these tailings dump come as part of the JV agreement? I would imagine they do as they are sharing everything else. If so does these mean a fast track to initial production?


Look at southern most gold hit 10m @ 3.21 g/t and open along strike for another 2 km's......