THE DRILL SERGEANT: Metalicity (ASX: MCT) reported recent activities at the company’s Yerrida cobalt project, located in the Yerrida Basin of Western Australia.
Metalicity said it has generated new targets at the project and that further field work and an approximate four-hole diamond and/or RC drilling program is set to commence at the project.
The company claims to have developed an exploration model for Yerrida with characteristics compatible to the geological setting of the prolific central African copper-cobalt belt.
Previous exploration undertaken by Metalicity demonstrated a geological setting considered amenable to hosting structural/stratigraphic-controlled copper-cobalt mineralisation and nickel-cobalt mineralisation.
Previous exploration by Metalicity at Yerrida identified a high priority target area over approximately seven square kilometres, which includes widespread surface geochemical anomalies including up to 6,400ppm cobalt and 1,500ppm cobalt, while drilling intersected primary stratigraphic controls on mineralisation or a halo to regional base metal transport over a 8 to 12m thick zone containing anomalous cobalt at the K1 target.
“Recent drilling intersected stratabound intervals of geochemically anomalous copper and cobalt mineralisation which are interpreted to indicate primary stratigraphic controls on mineralisation or a halo to regional base metal transport,” Metalicity managing director Matt Gauci said in the company’s announcement to the Australian Securities Exchange.
“A deeper hole is planned to test the potential for high-grade mineralisation associated with deeper structures from the underlying ‘red bed’ sandstones at K1, while a further three regional targets have been generated associated with an interpreted northwest-striking fault at K2-K4 for field work and drilling to test for leakage and cobalt mineralisation.”