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Metalicity Ltd.
Summary
| Project: | Admiral Bay | |
|---|---|---|
| Deposit: | Admiral Bay | |
| Location: | Australia | |
| Commodities: | Zinc-Lead-Silver | |
| Date: | 7/27/2016 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 27-7-2016: Metalicity Ltd. announces a Scoping Study report for its Admiral Bay deposit at the Admiral Bay project. Scoping study results incl. 20+ year LOM with an ore throughput of 3-5Mtpa. Metalicity Limited (“Metalicity” or “the Company”) advises that | |
| Resources: | (Resource, Inf.): 170Mt @ 4.1% Zn, 2.7% Pb, 25g/t Ag (7.5% ZnEq.) | |
| CP/QP: | [Resources]: James Ridley (Ridley Mineral Resource Consulting Pty Ltd.) | |
| ABSTRACT: | Metalicity Limited (“Metalicity” or “the Company”) advises that it has received positive results from the recently completed Scoping Study on its 100%-owned Admiral Bay Zinc Project in the Kimberley region of Western Australia. The Scoping Study, completed by expert technical consultant SRK Consulting, has confirmed the view of the Metalicity Board that the Admiral Bay deposit has the potential to support a long life and low cost zinc/lead/silver operation of world class scale. As a measure of viability, Metalicity requires Admiral Bay to have a potential mine life in excess of 20 years at a targeted ore throughput rate of 3-5Mtpa.* The Metalicity Board believes the Scoping Study has demonstrated the Admiral Bay project is potentially viable and could achieve this hurdle rate and will commence of a PreFeasibility Study (PFS) on the Admiral Bay Zinc Project. The initial focus of the PFS work will be refinement of the preferred PFS pathway, including more detailed evaluation of specific development options and mining techniques. In parallel, Metalicity will be undertaking a process to seek a joint venture partner to participate in the PFS process and allow acceleration of the targeted Admiral Bay development timeline. The Admiral Bay Zinc Project is located in the Kimberley region of Western Australia, approximately 140 km south of Broome. The general area in which the Project is located is characterised by low elevation and fairly flat terrain. The total Project area of 3,443 km2 consists of granted mining leases (MLs) and exploration licences (ELs), and exploration licence applications (ELAs), and is 100%-owned by Metalicity. The existing Inferred Mineral Resource Estimate of 170 Mt at 7.5% ZnEq for Admiral Bay is delineated on the granted MLs and ELs. | |
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