THE BOURSE WHISPERER: Metalicity (ASX: MCT) announced the lodging of a further seven exploration licence applications (ELAs) in Western Australia, across four project areas the company considers to be prospective for lithium, tantalum and tin mineralisation.
As with its previous applications, these projects have been generated from the company’s in-house exploration targeting model.
The Mundine Well application (E45/4698) is located approximately 75 kilometres south of the Pilgangoora lithium deposits pf Pilbara Minerals (ASX: PLS), in the Pilbara region of WA.
According to Metalicty, the Mundine Well prospect contains known occurrences of rare metals including tantalum and is hosted in a similar geological setting to the Pilgangoora deposits.
The East Strelley application (E45/4695) is located approximately 25km north east of the Strelley tantalum deposit, owned by Global Advanced Metals.
Metalicity’s application covers extensions to the host geological sequences for both the Strelley and Tabba Tabba tantalum deposits, the latter currently being mined by Pilbara Minerals.
The Katterup (E70/4816) and Yornup (E70/4817) applications are located in the Greenbushes region of southern WA and cover the same fault, and a similar geological setting, to the Greenbushes lithium deposit, which hosts the world’s largest resource of hard rock lithium (spodumene), owned and operated by Talison Lithium.
The Nanutarra application (E08/2820) is centred on the locality of Nanutarra, in the Pilbara region and is reported to contain rare metals occurrences including lithium occurrences, noted in the government database.
The Yalgoo applications (E59/2170 and E59/2171) are located to the south and west of the Johnsen Well pegmatites, known to contain lithium bearing minerals.
“The company intends to explore the new project areas for outcropping and undetected pegmatites that may host rare metal mineralisation,” Metalicity sadi in its ASX announcement.
“Desktop surveys have commenced to refine target areas for field surveys, which will include geological mapping and geochemical sampling programs.
“Importantly, the company’s initial exploration programs in these new project areas are sufficiently funded with the company’s existing cash in bank.”