THE DRILL SERGEANT: Metalicity (ASX: MCT) has commenced exploration activities on its recently-acquired Napier Range zinc project in Western Australia.
Metalicity said the activities, along a four-kilometre strike of zinc targets, follows the completion of an institutional placement.
The company is refining high-priority targets from recent field mapping, rock chip sampling, drill hole database review and resource block model review for an upcoming drilling program.
This will include a diamond and RC resource and exploration drilling program to commence in concert with an approved program of works (POW), targeting a June Quarter start.
Resource targets within the existing Mineral Resource Estimate (MRE) of 750,000 tonnes at 5.8 per cent zinc, 7.2 per cent lead, 54 grams per tonne silver (13.6% ZnEq) will be targeted with the intent to progress the existing Inferred MRE to the Indicated category.
Exploration targets outside of the resource along the 4km strike extent will be tested for new mineral discoveries including three of nine targets the company has defined to date.
“We are very excited to commence exploration including an aggressive drill program at the Napier Range zinc project which already contains a high-grade near surface resource as well as three of nine excellent high-grade exploration targets identified to be drill tested along a four-kilometre strike extent,” Metalicity managing director Matthew Gauci said in the company’s announcement to the Australian Securities Exchange.
“A POW has been approved by the Department of Mines and, weather permitting, we aim to be drilling during the June Quarter to increase the inferred resource category to indicated while, importantly, testing some high-grade exploration targets which have not been the subject of systematic exploration, and bodes well for new high-grade zinc discoveries.”