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Metalicity Limited (ASX: MCT)

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With a bold new exploration strategy and a voracious appetite for acquiring patches of dirt in some of Western Australia’s most prolific mining regions, Metalicity is fast emerging as a junior exploration player with some serious upside.

The WA-focused base metal minnow has been running the ruler over the red-hot Paterson Province copper belt and the prolific Fraser Range, acquiring exploration license applications in both regions.

In the Paterson Province, Metalicity has generated more than 5,000 square kilometres of new Project Area Applications in close proximity to some of the names which dominate the region.

Such as the Nifty mine that has produced more than 40,000 tonnes of contained copper concentrate per annum, the Telfer mine, which hit over 425,000 ounces of gold and 16,000 tonnes of copper last financial year, as well as Rio Tinto’s new darling deposit, Winu.

Metalicity’s Desert Queen project, which consists of 679sqkm lies right amongst these giants, adjoining ground held by Rio Tinto.

Its Mandora project is even larger, containing 1,487sqkm of prime Paterson land to the north-west of Winu and adjoins tenements held by Rio Tinto and Fortescue Metals Group.

The projects are yet to be drilled; however, the company believes its odds of a major find are enhanced by a clever piece of geological interpretation conducted by the renowned geo-consultants Corporate Geoscience Group (CGSG) on behalf of Metalicity.

The Group has used artificial intelligence and machine learning to analyse the findings of the Geological Survey of Western Australia’s 2017 SEEBASE project – a recently published project analysing the Canning Basin and adjacent Paterson Province.

While SEEBASE was primarily developed for the oil and gas industry, the consultants have used advanced technology to manipulate the data and gain a new understanding of the Province for metals prospecting.

The results have been extremely encouraging, allowing Metalicity to identify targets that are most likely to yield results with shallower cover.

Additionally, this scientific edge has influenced further project acquisitions.

In February this year the company acquired three new projects in the Paterson that have all shown promise based on data interpretation from SEEBASE.

In the Fraser Range the company has also shown a preference for data-driven project acquisitions, adding two areas of interest to its books.

The areas have received 635 metres of drilling by Kennecott Explorations during 1980, with the work searching for Olympic Dam-style mineralisation.

While the exploration failed to find an Olympic Dam deposit it did intersect a mafic-intrusive anomaly – a rock type now known to be prospective for Fraser Range style nickel-copper sulphides, found at the Nova-Bollinger Mine and the Silver Knight deposit.

Metalicity has since conducted a deep dive into the historical work, even inspecting the core from Kennecott’s drilling, which was still available at the Kalgoorlie Core Library, concluding the project areas offer a unique opportunity to target large-scale and economic deposits of nickel-copper mineralisation.

“It is very pleasing to see Metalicity build its asset base in Western Australia with some very interesting copper project additions further strengthening our portfolio of base metal assets,” Metalicity CEO and executive director Mat Longworth told The Resources Roadhouse.

“The company has been through a period of transition and is now emerging as a highly attractive prospector with a clear value proposition.”

While Metalicity has amassed a large project base it has also been inching closer to a major cash generating event through the divestment of its zinc assets.

The market junior has spent the past few years inspecting the Admiral Bay zinc project, which is one of the world’s largest undeveloped deposits of zinc.

The company is currently in the process of spinning out the asset to the Canadian TSX Venture Exchange, where it aims to attract North American investors with a risk appetite for large projects.

The IPO is set to progress as soon as the global zinc market improves, providing shareholders with the tantalising prospect of investing in a market junior on the verge of a major cash windfall with a host of prospective projects.

 

Email: info@metalicity.com.au
Web: www.metalicity.com.au

Directors: Andrew Daley, Mathew Longworth, Justin Barton

 

Metalicity Defines New Lithium Targets

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THE DRILL SERGEANT: Metalicity (ASX: MCT) has identified further lithium targets at the company’s 100 per cent-owned Pilgangoora North lithium project located in the Pilbara Region of Western Australia.

Metalicity reported on recent field work, from which it identified two lithium target areas to advance additional field work and potential drilling at the Pilgangoora North lithium project, located approximately nine kilometres north of the world class Pilgangoora group of lithium deposits currently being developed by Pilbara Minerals (ASX: PLS) and Altura Mining (ASX: AJM).

Metalicity completed preliminary mapping, satellite imagery interpretation and rock ship sampling to define a series of pegmatites over a 10km trend.

The recent reconnaissance mapping and rock chip sampling, combined with the earlier rock chip sampling results, has identified priority target areas for further work.

“The exploration program has confirmed the likely source granite for many of the pegmatites with rare-element geochemical signatures present within the Pilgangoora North tenements and has provided additional information which supports the two priority target areas (PN 2 and PN 3) in which to focus further exploration activity for lithium bearing pegmatites,” Metalicity managing director Matt Gauci said in the company’s announcement to the Australian Securities Exchange.

 

Website: www.metalicity.com.au

 

Metalicity Identifies New Greenbushes Lithium Targets

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THE DRILL SERGEANT: Metalicity (ASX: MCT) announced the identification of two extensive lithium target areas and several point anomalies at the company’s 100 per cent-owned Greenbushes North lithium project, along strike from the world class Greenbushes lithium deposit in the South West of Western Australia.

Metalicity recently undertook activities involving geochemical sampling methodology that was designed and employed based on previous successful laterite sampling programs.

The company declared the program had confirmed the technique is appropriate to discover lithium and tantalum bearing pegmatites in laterite-covered areas at the world class Greenbushes lithium deposit.

The geochemical sampling program at Greenbushes North covered an area of around 132 square kilometres and highlighted two priority lithium target areas which may indicate buried LCT type pegmatites.

“The exploration program has identified important criteria for the discovery of buried LCT-type lithium pegmatites similar to those which host the world class Greenbushes deposit,” Metalicity managing director Matt Gauci said in the company’s announcement to the Australian Securities Exchange.

“Firstly, the sampling methodology used identified two significant lithium index anomalies and secondly the clustering of these anomalies located over the same fault zone which controls the Greenbushes deposit.

“The anomalies cover an extensive total area of approximately 30 square kilometres and exploration teams are being mobilised to progress work programs at these new prospects.”

 

Website: www.metallicity.com.au

 

Metalicity Sharpens Battery Metal Focus

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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.”

 

Website: www.metalicity.com.au