Metalicity Conducting Lithium Review

THE DRILL SERGEANT: Metalicity (ASX: MCT) is conducting a geological review of its four lithium projects in Western Australia.

Metalicity has appointed CSA Global to conduct the review charged with the aim of generating new targets and prioritising existing targets for future drilling.

Metalicity has put together a sizeable landholding in Australia’s two key lithium producing districts, the Greenbushes district and the Wodgina-Pilgangoora district.

Previous targeting work conducted by Metalicity has focussed on mapping of pegmatites at its Pilgangoora North project and the Stannum prospect within its Wodgina South project.

This area represents approximately 20 per cent of the company’s lithium-prospective land package and it believes there to be potential to generate new targets for drilling within these two hard rock lithium producing regions.

From recent field work at the Pilgangoora North project, Metalicity confirmed that pegmatites interpreted from satellite imagery, are present; some of which host anomalous lithium values.

An initial four-hole 600m reverse circulation percussion (RCP) drill program was undertaken aimed at testing pegmatites in the southern portion of the project area the company had interpreted to be extensions of the Lynas Find deposit pegmatite system.

Although this was a very limited drill program, pegmatites were intersected in every hole.

No significant levels of lithium were encountered in this program, however Metalicity said it had been encouraged by the continuity and thickness of the pegmatites, which it determined to be comparable to the Pilgangoora deposits to the south.

“The initial four-hole drill program at Pilgangoora North targeted the most accessible pegmatites which represent a small fraction of the mapped or interpreted pegmatites that have been identified at the project, some of which are confirmed from rock chip sampling as lithium bearing,” Metalicity managing director Matt Gauci said in the company’s announcement to the Australian Securities Exchange.

“Given the size of the company’s lithium portfolio and interest from end users in the sector, we believe this is a right time to appoint lithium experts from CSA Global to conduct a targeting review of our entire lithium portfolio and determine the best strategy to progress these assets.”