Metalicity advances Lithium potential
THE DRILL SERGEANT: Metalicity (ASX:MCT) has completed first pass field work, including geological mapping and sampling, at the company’s Greenbushes regional lithium project, located in the Greenbushes district of Western Australia.
The company’s Greenbushes regional applications (E70/4809, E70/4816 and E70/4817) are all located within 35 kilometres of the Greenbushes lithium deposit owned by Talison Lithium, where the world’s largest and highest grade deposit of spodumene (hard rock lithium) is being mined.
Metalicity says its application areas cover similar regional geological settings to the Greenbushes deposits.
The company’s recent field work was aimed at mapping geological structures, taking rock chip samples and identifying outcropping pegmatites, and for planning the following stages and methods of exploration.
Although Metalicity considered substantial lateritic cover in the project areas would hamper the identification of any significant outcropping pegmatites, the company did encounter samples of numerous sets of pegmatoidal veins and greisens, which have subsequently been submitted for chemical analysis to ascertain the potential for the area to host lithium mineralisation.
The company is now looking to acquire available radiometric data sets to assess the project area for potassium alteration haloes associated with pegmatites.
It also hopes to acquire hyperspectral data over the project areas to assist in defining areas for further detailed exploration programs.
Metalicty indicated it has the necessary funding in place for these initial exploration programs in these new project areas with existing cash in bank.
The company is also in discussions with a wide range of potential partners from recent meetings with the China Battery Association.
“Outcropping pegmatites are common in the Pilbara, however due to lateritic cover common to the South West around Greenbushes, exploration requires more systematic work and remote sensing surveys to identify areas for drill testing, clearly given the high grade large tonnage nature of these deposits the reward is high,” Metalicity managing director Matt Gauci said in the company’s announcement to the Australian Securities Exchange.