Emerging zinc developer Metalicity (ASX: MCT) has kicked off exploration along a 4km strike of zinc targets at Napier Range, a high grade, low capital and near-term producing zinc project in the Kimberley region, Western Australia.
A 5,000m diamond and RC resource and exploration drilling program will begin at Napier Range in the June quarter with a program of works (POW) approved.
High priority targets are being refined from recent field mapping, rock chip sampling, drill hole database review and resource block model review for the upcoming drilling program.
A remote sensing survey re-processing will include IP and gravity data re-processing utilising improved inversion algorithms and comprehensive gridding techniques
Resource targets within the existing Mineral Resource Estimate of 750,000 at 5.8% Zn, 7.2% Pb, 54g/t Ag (13.6% ZnEq) will be targeted to progress the existing Inferred MRE to the Indicated category.
Meanwhile, exploration targets outside of the resource along the 4km strike extent to be tested for new mineral discoveries including 3 of 9 targets defined to date.
Metalicity Managing Director Matthew Gauci said Napier Range represented a high grade low capital and near term producing zinc project for Metalicity.
We are very excited to commence exploration including an aggressive drill program at the Napier Range Zinc Project which already contains a high grade near surface resource as well as 3 of 9 excellent high-grade exploration targets identified to be drill tested along a 4km strike extent,” he said.
“A POW has been approved by the Department of Mines (DMP) and, weather permitting, we aim to be drilling during the June Quarter to increase the inferred resource category to indicated while, importantly, testing some high-grade exploration targets which have not been the subject of systematic exploration, and bodes well for new high-grade zinc discoveries.”
Napier Ranger lies in the world-class Lennard Shelf – a northwest trending belt between the Proterozoic Kimberley Block and the Fitzroy Trough.
The project is classed as a Mississippi Valley Type (MVT) deposit which typically demonstrate simple and conventional process flowsheet design, high metal recovery and excellent clean concentrate quality.
The ASX-listed company acquired Napier Range last month, which adds to its portfolio of zinc projects which includes Admiral Bay where JV, offtake and investment discussions regarding development are progressing well with positive negotiations advancing with Chinese State-Owned Enterprises.
Metalicity is also seeking to dual list on the TSX Venture Exchange after raising A$2.61 million via a brokered private placement to high-profile North American institutional funds and Australian resource funds.
Shares in Metalicity were trading 0.1c, 2.7%, higher at 3.8c in Tuesday morning trade.
