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Metalicity Ltd.
Summary
| Project: | Admiral Bay | |
|---|---|---|
| Deposit: | Admiral Bay | |
| Location: | Australia | |
| Commodities: | Zinc-Lead-Silver | |
| Date: | 7/29/2016 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 29-7-2016: Metalicity Ltd. announces a Scoping Study report for its Admiral Bay deposit at the Admiral Bay project. Amended scoping study results incl. 20+ year LOM with an ore throughput of 3-5Mtpa. Metalicity Limited (“Metalicity” or “the Company”) advi | |
| 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 an update to the ASX Announcement of 28 July 2016 “Positive Admiral Bay Scoping Study” is provided. Following discussions with the ASX, reference to the Aspirational Statement has been removed. 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. The Metalicity Board will now commence a Pre-Feasibility 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. Metalicity Managing Director, Matt Gauci, commented, “We are excited that the Scoping Study has confirmed Admiral Bay as capable of delivering a large, long life and potentially low cost zinc and lead operation of world class scale. The strategic nature of Admiral Bay needs to be understood in the context of the long-term fundamentals for zinc and lead markets. The recent and imminent closures of world-class, large scale zinc mines are expected to create a significant supply shortage in the global zinc market. There are very few large, long-life and potentially low cost zinc projects located in stable, first world mining jurisdictions that can be brought into production to address this supply shortage. | |
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