THE BOURSE WHISPERER: Metalicity (ASX: MCT) has lodged Exploration License Applications (ELAs) in the Paterson Province of the Pilbara Region of Western Australia.
Metalicity has made the applications for ground adjoining Rio Tinto’s Exploration Licenses within an interpreted copper corridor, which it considers hosts numerous underexplored copper occurrences and geophysical anomalies.
The company explained the project generation builds on a copper prospectivity study it completed over the Pilbara region, including the Paterson Province, aligning with its strategy to focus on nickel and copper exploration.
This strategy meant the Fraser Range and Paterson Province emerged as its preferred geological terrains.
Metalicity has commenced data compilation and project evaluation to ascertain areas of interest within the Desert Queen and Mandora Beach ELAs for possible future exploration.
“The Paterson ranks highly on our list of prospective geological terrains for the discovery of copper mineralisation in the Pilbara and we are encouraged the by activity of the major companies nearby which supports our prospectivity models,” Metalicity managing director Matt Gauci said in the company’s announcement to the Australian Securities Exchange.
“Metalicity retains significant experience exploring the Paterson over the last 20 years and is currently compiling all available geological, geochemical, geophysical datasets to assist guiding future exploration activities.”