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Metalicity Pegs New Tenements

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THE BOURSE WHISPERER: Metalicity (ASX: MCT) announced the acquisition of a further four prospecting and exploration tenements in the Kookynie Area in the Goldfields region of Western Australia.

On top of that, Metalicity received notification its applications on the Fraser Range North and two of the three Warburton tenements have now been granted.

“I am absolutely delighted we were able to peg and apply for this incredibly strategic and prospective tenure within the Kookynie Area,” Metalicity managing director and CEO Jason Livingstone said in the company’s announcement to the Australian Securities Exchange.

“We are making great strides towards consolidation of the Kookynie and Yundamindra gold projects through farm-ins and joint ventures, coupled with opportunistic pegging of ground to ensure that value is created for Metalicity shareholders.

“With part of the Warburton and the Fraser Range North projects being converted to live tenure, I look forward to working with the Traditional Owners to ensure access agreements are fair and equitable for all.

“Metalicity is growing a pipeline of projects headed by our Kookynie and Yundamindra farm-in agreements with incredibly prospective greenfields acquisitions.”

While Metalicity’s focus remains on the Kookynie and Yundamindra gold projects, the company highlighted that it is striving to create value through the development of a pipeline of projects within the gold and base metal space.

The Kookynie area especially has been subject to fractured ownership over a very long period and Metalicity considers, through well-structured farm-in/joint venture arrangements and being highly cognisant of competitor activities in the region, it is making great head way into re-consolidating the Kookynie area to ensure exploration is not hampered by arbitrary tenement boundaries.

Coupled with the grant of two exceptionally prospective nickel-copper and copper projects in proven, well-endowed provinces of the Fraser Range and Musgraves, this further illustrates Metalicity’s drive to develop a well credentialed pipeline of Projects to generate value for the company.

 

Web: www.metalicity.com.au

 

Metalicity Acquisition to Consolidate Kookynie Gold Project

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THE BOURSE WHISPERER: Metalicity (ASX: MCT) announced the acquisition of strategic tenure within the Kookynie area of Western Australia.

Metalicity declared the acquisition as a major step forward in regards to the company’s farm in agreement with Nex Metals Exploration’s Eastern Goldfields gold projects.

The new farm in activity by Metalicity, in the Kookynie and Yundamindra areas, is included and contributory towards its commitment of $5 million to earn 51 per cent of the above mentioned farm in agreement.

“The history of the Kookynie and Yundamindra areas is one of very fractured ownership,” Metalicity managing director Jason Livingstone said in the company’s announcement to the Australian Securities Exchange.

“That has been a significant block on effective exploration and development over the past few decades.

“This step taken by Metalicity ensures that we can explore and develop this project effectively to maximise its value.”

The acquisition involves tenement P40/1331 and has been acquired from a local prospector, Simon Gary Byrne.

P40/1331 is a live prospecting tenement purchased from the vendor for $10,000 upon transfer of the tenement to KYM Mining Pty Ltd, with a further $10,000, six months from the date of transfer, and a royalty of 1% NSR on the first 50,000 ounces of production that may potentially be sourced from within this area.

Web: www.metalicity.com.au