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Metalicity Ltd.
Summary
| Project: | Stannum | |
|---|---|---|
| Deposit: | Stannum | |
| Location: | Australia | |
| Commodities: | Lithium-Caesium-Niobium-Rubidium-Tin-Potassium | |
| Date: | 1/19/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 19-1-2017: Metalicity Ltd. announces an Exploration/Drilling Update report for its Stannum deposit at the Stannum project. Drilling results incl. 22m @ 0.18% Li2O from 58m . Metalicity Limited (ASX:MCT) (“MCT” or “Company”) is pleased to announce that the | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Marcus Sweetaple (Not stated) | |
| ABSTRACT: | Metalicity Limited (ASX:MCT) (“MCT” or “Company”) is pleased to announce that the maiden drilling program at the Stannum Project, within the Company’s Pilgangoora South tenure, has intersected very thick LCT type pegmatites up to 124m from surface with peak lithium assay intercepts up to 0.47% Li2O. The results are currently being reviewed ahead of a targeted, follow-up drilling program to test the extent of the anomalous lithium assays and identify higher grade areas. Very thick intersections of lithium bearing pegmatites were identified during drilling and lithium mineralisation can now be confirmed in hole MCRC0011. While Metalicity aims to improve on the initial lithium grades returned from this first pass, wide spaced drilling, the program has provided critical information to target and further define the potential extent of the discovery including higher grade zones of mineralisation. X-Ray Diffraction analysis is being undertaken to determine the host minerals of the lithium which remains unconfirmed; while drilling is now being planned to determine the extent and grades of mineralisation targeting the numerous pegmatites identified to the north of Tria. The Stannum Project is one of three key target areas held by Metalicity within the Wodgina/Pilgangoora District where drilling is planned for the current half. The Company’s extensive landholding includes the key target areas of Lynas Find North, Turner River North and Stannum, all with drill planning underway. | |
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