THE DRILL SERGEANT: Metalicity (ASX: MCT) announced a sharpening of its focus on battery metals exploration within it’s the company’s prospective landholding in Western Australia.
Metalicity recently agreed to terms for the sale and purchase of the company’s base metal (zinc) projects for a TXS-V listed IPO, Kimberley Mining.
Metalicity has recently completed exploration programs across its Pilbara lithium and Yerrida cobalt projects with the purpose of generating new drill targets and drill testing existing targets, from which assay results and evaluation is due shortly.
At the same time, the company commenced a battery metals project generation program in WA from an extensive geological database it has compiled over the past two years and is currently evaluating a pipeline of additional battery metals exploration opportunities with an update on this program due shortly.
“We are pleased with the terms for the sale agreement of our base metals projects, with the company planned to be well-funded and still leveraged for additional upside at Admiral Bay,” Metalicity managing director Matt Gauci said in the company’s announcement to the Australian Securities Exchange.
“We are strategically refocussing the company to deliver value from our highly prospective and underexplored battery metals projects.
“Exploration programs have recently been completed with the purpose of generating new drill targets for a more systematic exploration program.
“The company is concurrently evaluating a pipeline of new additional battery metal opportunities with strong support from battery metals company Shanghai Metals.”