Metalicity identifies new mineralised zones at Admiral Bay

THE DRILL SERGEANT: Metalicity (ASX: MCT) has identified two zones of zinc and lead mineralisation sitting outside of the existing Mineral Resources Estimate on the company’s 100 per cent-owned Admiral Bay zinc project, located in Western Australia.

The first of these zones, DD89SS17 is located one kilometre northeast of the Admiral Bay MRE and comprises several zones of mineralisation, including a particularly wide zone of:

26 metres at 4.4 per cent zinc, 3.3 per cent lead, and 28 grams per tonne gold (8.7% ZnEq) encompassing an intersection of 14m at 5.1 per cent zinc, 4.26 per cent lead and 31g/t silver (10.5% ZnEq).

A second mining lease at Admiral Bay, M04/244, hosts the DD87SS06 zone, which Metalicity has defined by a section of four drill holes, 11.5km northwest of the main deposit.

Metalicity explained that no resources have been estimated for these areas due to the lack of supporting information and geological understanding.

However, the work the company currently has underway is providing its technical team greater understanding of the mineralisation, leading the company to investigating whether estimation of resources for these zones is possible.

“The company is working through a comprehensive geological interpretation program, re-logging of all drill core and re-processing of all 2D seismic data program, with teams recently on site at Admiral Bay logging both the mineralised and non-mineralised drill core,” Metalicity said in its ASX announcement.

“The seismic team are re-processing and re-interpreting existing seismic data to complement the new geological model.

“The new geological model will be designed to enhance the understanding of the mineralisation, its continuity, and to generate discrete drill targets with the potential to upgrade the MRE in both size and classification.

“This work is being undertaken by industry leading consultants and is due for completion as part of the Scoping Study in March 2016.”