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Metalicity Ltd.
Summary
| Project: | Admiral Bay | |
|---|---|---|
| Deposit: | Admiral Bay | |
| Location: | Australia | |
| Commodities: | Zinc-Lead-Silver | |
| Date: | 7/4/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Scoping Study | |
| Report details: | 4-7-2016: Metalicity Ltd. announces a Resource Estimation report for its Admiral Bay deposit at the Admiral Bay project. Updated mineral resource (with a 30% higher ZnEq. grade) and new exploration target range. Metalicity Limited (ASX:MCT, “Metalicity” o | |
| Resources: | (Resource, Inf.): 170Mt @ 7.5% ZnEq. at project | |
| CP/QP: | [Resources]: James Ridley (Ridley Mineral Resource Consulting Pty Ltd.) | |
| ABSTRACT: | Metalicity Limited (ASX:MCT, “Metalicity” or “the Company”) advises that the Admiral Bay Zinc Project located in the northwest of Western Australia has been further enhanced with the release of a revised Inferred Mineral Resource Estimate (MRE) to complement current Scoping Study work (Figures 1 and 2). The revised Inferred MRE totals 170Mt at 7.5% zinc equivalent ZnEq (4.1% Zn, 2.7% Pb and 25g/t Ag). This represents an approximate 30% higher ZnEq grade and 100% increase in contained ZnEq metal relative to the previous Inferred MRE (as announced by Metalicity on 24/02/2016). The Inferred MRE has been completed for an area extending between mining leases M04/244 and M04/249 (Figures 3 and 4). It is contained along an 18km mineralised corridor within a 3,300km2 project area in the Canning Basin of Western Australia. The key driver of the considerable increase in estimates for both resource tonnage and in‐situ resource grade relative to the previous Inferred MRE is in recognition of the continuity and predictability of the almost flat‐lying host sedimentary formations and the similarity of mineralisation within the defined zones over the strike extent of the Admiral Bay Fault Zone (ABFZ). The 15km strike extent of the Inferred Resource exhibits sedimentary formations that host the mineralisation that vary by less than 50m in elevation along the trend of the ABFZ. This package of almost flat lying host rocks along the axis of the ABFZ forms an antiform dipping gently to the north and south (Figure 6). | |
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