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Metalicity Ltd.
Summary
| Project: | Kyarra | |
|---|---|---|
| Deposit: | Kyarra | |
| Location: | Australia | |
| Commodities: | Cobalt-Copper-Nickel-Manganese | |
| Date: | 11/14/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 14-11-2017: Metalicity Ltd. announces an Exploration/Drilling Update report for its Kyarra deposit at the Kyarra project. Drilling results incl. 2m @ 175ppm Co, 155ppm Cu, 1590ppm Zn, 322ppm Ni from 12m. CSA Global Pty Ltd. Metalicity Limited (ASX:MCT) (“ | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Simon Dorling (CSA Global Pty Ltd.) | |
| ABSTRACT: | CSA Global Pty Ltd. Metalicity Limited (ASX:MCT) (“MCT” or “Company”) is pleased to report results received from its maiden exploration drilling program at the Kyarra Cobalt Project (“Kyarra”), located in the Yerrida Basin, Western Australia, where the company has previously identified high grade and widespread surface cobalt results. The drilling program was designed to understand the origin of anomalous surface cobalt geochemistry (see MCT ASX release 21 July 2017, and below) delineated over a target area of 2km x 3.5km. An initial RC percussion drilling program (Figure 4, Table 1) was completed to test whether a linear anomaly trend was associated with underlying structural/stratigraphic controlled mineralisation, or was related to scavenging of metals mobilised in the surface weathering environment by iron and manganese oxides. The drilling has intersected a favourable stratigraphic setting and returned anomalous copper and cobalt analyses, which are consistent with the Company’s exploration targeting model at Kyarra. The Company is working closely with sediment-hosted copper-cobalt experts at CSA Global to plan the next stage of work at Kyarra, as well as future project generation for sediment-hosted copper-cobalt mineralisation. The Company is evaluating a range of additional opportunities, both in Western Australia and overseas, to build the Company’s cobalt exploration portfolio. The Kyarra Cobalt Project is well located in terms of access and infrastructure, located on the Goldfields Highway 40km west of Wiluna, in the Northern Goldfields region of WA. The three tenements give Metalicity a strong position in the basin. which is to the south and is interpreted to adjoin the bryah basin where similar exploration models have discovered the very high grade de-grussa and Monty copper deposits. | |
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