Posts

Metalicity Kicks off Exploration at Kookynie and Yundamindra

/in , /by

THE DRILL SERGEANT: Metalicity has commenced exploration activities at the company’s Kookynie and Yundamindra projects in the Eastern Goldfields of Western Australia.

Metalicity recently acquired the rights to develop via a Farm-In Agreement over the projects and is fast-tracking exploration activities targeting gold mineralisation extensions at historical mining operations located within the Keith-Kilkenny Tectonic Zone that have not been targeted by modern exploration over the last 25 years.

The Kookynie project is a known gold province north of Kalgoorlie that hosts the Diamantina-Cosmopolitan-Cumberland (DCC) trend, which produced 360,000 ounces at a grade of 15 grams per tonne gold from 1895 to 1922.

The company has completed geological mapping of the Kookynie project and commenced mapping at the Yundamindra project and accelerated preparations for a maiden drilling program at Kookynie, with drill sites identified and contractors approached to prepare the sites and conduct field logistics.

“The company is pleased to confirm that it remains on schedule to commence drilling activity in June 2019, with the next step to appoint drilling contractors,” Metalicity said in its ASX announcement.

“Metalicity is in the final stages of negotiations with experienced WA goldfields drillers and anticipates providing the market with an update shortly.

“The company intends to target mineralisation at depth, as most drilling has not confined the down dip or along strike extents at the prospects.

“Results of the recently completed mapping will further assist the development of exploration targets, with the company continuing to keep investors informed of drilling plans ahead of the campaign.”

 

The Resources Roadhouse spoke with Metalicity managing director Matthew Longworth at the recent RIU Sydney Resources Roundup. WATCH THE INTERVIEW HERE

 

Website: www.metalicity.com.au

 

Metalicity Strikes Earn-in with Nex Metals

/in , /by

THE BOURSE WHISPERER: Metalicity (ASX: MCT) has entered a farm-in agreement with Nex Metals Explorations (ASX: NME) for the Kookynie and Yundamindra projects in the Eastern Goldfields of Western Australia.

Metalicity said exploration to commence during May with drilling planned for June quarter.

Metalicity, as part of the Farm-In, is required to initially spend a minimum $500,000 within 12 months, moving to a total of $5 million spend within and up to five years to earn 51 per cent of the projects inclusive of the initial spend and time duration.

At that point, a Joint Venture is anticipated to be formed between the parties.

“This deal provides us with access to one of the Eastern Goldfields’ last remaining underexplored, significant production centres,” Metalicity CEO Mat Longworth said in the company’s announcement to the Australian Securities Exchange.

“The team at Metalicity have significant experience in this region with over 30 years of combined district experience in successful exploration including the Raleigh and Sunrise Dam mines.

“These projects provide Metalicity with the opportunity to define significant gold resources, building off historic exploration, by employing modern techniques and science.

“Exploration will commence during May, a fast start due to the experience of Metalicity’s team and the cooperative work undertaken with NEX’s on the ground team.

“Through a results-based exploration program across both projects our goal is to develop a significant resource and reserve base, from which to eventually commence a sustainable mining operation focusing on grade and margin.

“This is a very exciting development, Metalicity’s stated three-part strategy of near-term production assets, the very large Admiral Bay zinc asset through our holding in Kimberley Mining and the extensive early stage land holding the Paterson Province and Fraser Range is coming together.”

 

Website: www.metalicity.com.au

 

Metalicity Confirms Fraser Range Copper-Nickel Potential

/in , /by

THE DRILL SERGEANT: Metalicity (ASX: MCT) claimed that petrographic, analytical and geophysical modelling has confirmed the presence of anomalous, layered mafic intrusives at the company’s Fraser Range North projects in Western Australia.

Metaiclity reviewed diamond core from historic exploration holes, N3-1 and N1-1, which were drilled by Kennecott Explorations within the project areas during the 1980s, from which it noted traces of chalcopyrite, and a rock unit (layered mafic intrusives) prospective for Fraser Range-style nickel-copper sulphides.

Metalicity subsequently sought to further inspect the drill cores, with samples for polished thin sections taken from both drill holes to understand the mineralogy of specific fractions within the layered mafic.

Then, the core was cut and quarter-sampled at selected lengths culminating in a total of 39 samples (four from N1-1 on E69/3676 and 35 from N3-1 on E69/3677) that were submitted for testing.

Petrographic investigations and laboratory analysis of the drill core demonstrated the presence of copper bearing sulphide.

Chalcopyrite, and copper anomalism was also present in assay data in the Fraser Range region.

Geophysical modelling of the coincident magnetic and gravity anomalies displayed a strong magnetic core to both the Fraser Range projects.

Based on its updated understanding of the projects, Metalicity considers a ground, moving loop electro-magnetic (EM) survey represents an ideal approach to further develop prospective drilling targets, which can be rapidly executed upon tenement approval.

“It is incredibly pleasing to see that our resampling program has defined anomalous copper along with 3D magnetic inversion techniques highlighting large, highly magnetic susceptible bodies indicating the presence of host units containing possible copper-nickel sulphide mineralisation,” Metalicity general manager – exploration & development Jason Livingstone said in the company’s announcement to the Australian Securities Exchange.

“The two project areas have demonstrated exceptional prospectivity.

“We are excited to see the grant of these tenements so we may implement the ground geophysical surveys to allow for succinct drill hole planning.”

 

Website: www.metalicity.com.au

 

Metalicity Applies for Pilbara Copper ELAs

/in , /by

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.”

 

Website: www.metalicity.com.au