Metalicity applies to extend Admiral Bay tenement holding

THE DRILL SERGEANT: Metalicity (ASX: MCT) has submitted six new exploration licence applications (E04/2443-2448) surrounding the company’s existing Admiral Bay zinc project in Western Australia.

The new applications cover an area of 3,300 square kilometres along a total strike length of approximately 130 kilometres of the Admiral Bay Fault zone in the central Canning Basin.

Once granted they will swell the total size of Metalicity’s tenement package over the Admiral Bay project area to 3,678sqkm.

This area includes two mining leases (M04/244 and M04/249) that cover the existing mineral resource estimate for Admiral Bay of 111.3 million tonnes at 5.7 per cent zinc equivalent for 6.34 million tonnes of contained zinc equivalent.

Metalicity made the applications on the back of recent geological study work carried out by Dr David Leach, a globally recognised expert in Mississippi Valley Type (MVT) zinc-lead deposits, which highlighted the potential for district wide mineralisation.

Metalicity is als reviewing existing work of previous petroleum exploration companies to gain an understanding of the potential trap sites for zinc and lead mineralisation along an extended 130km strike length of the Admiral Bay Fault zone.

Metalicity believes there is potential for multiple Admiral Bay size mineral resources along the Admiral Bay Fault zone and has moved quickly to secure this ground.

“A review of historical regional drill hole data and intensive study work with global MVT experts substantiates Metalicity’s view that the Admiral Bay zinc project is a district wide base metal opportunity,” Metalicity managing director Matt Gauci said in the company’s announcement to the Australian Securities Exchange.

“Once granted these tenements will be 100 per cent-owned by MCT and unencumbered.”

Website: www.metalicity.com.au