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Metalicity adds 3 gold-prospective licenses next to Kookynie earn-in

Metalicity Ltd. said Sept. 2 that it expanded the Kookynie gold project in Western Australia to over 11,000 hectares after securing options over three exploration tenements.

To acquire exploration tenement E40/289 owned by Paris Enterprises (WA) Pty Ltd., Metalicity must incur a A$200,000 spend over the tenement, located adjacent to the historic Orient Well gold mine.

Further, it secured an option to acquire exploration licenses E39/1773 and E39/1774, held by private company Paddick Investments Pty Ltd., by incurring a further A$200,000 spend over two years.

The current owners of the tenements will revert to a 1% net smelter royalty over the tenements upon the completion of the earn-in period.

All tenements secured by Metalicity under the two separate deals will be folded into an existing agreement with Nex Metals Explorations Ltd. to earn a 51% joint venture interest in the Kookynie project.

In late August, Metalicity acquired prospecting license P40/1331, which was also included in the Kookynie earn-in deal.