After agreeing to offload its base metal projects into new TSX-V listing Kimberley Mining, Metalicity has now turned its focus to ramping up exploration for battery metals over its extensive and highly prospective landholding in WA.
The ASX-listed company (ASX: MCT) has recently completed exploration programs at the Pilgangoora North Lithium Project including mapping and sampling and Yerrida Cobalt Project including mapping, sampling and drill testing.
The purpose of the exploration was to generate new drill targets and drill test existing targets with assays and evaluation due shortly.
To date, projects have been the subject of only limited systematic exploration including geological database compilation, mapping, sampling and limited drill testing to less than 5% of targets.
Meanwhile, Metalicity has also begun a battery metals project generation program in WA from the company’s extensive geological database compiled over the past two years.
The company is currently evaluating a pipeline of additional battery metals exploration opportunities. An update on this program is due shortly.
Metalicity has received strong support from shareholder and battery metals company Shanghai Metals with whom the company also has an MOU in place for offtake, project development and financing.
We are strategically refocussing the company to deliver value from our highly prospective and underexplored battery metals projects,” Metalicity Managing Director Matt Gauci said.
“Exploration programs have recently been completed with the purpose of generating new drill targets for a more systematic exploration program.
“The company is concurrently evaluating a pipeline of new additional battery metal opportunities with strong support from battery metals company Shanghai Metals.”
Leading independent geological consultancy CSA Global is planning and implementing the systematic exploration program across Metalicity’s projects as well as leading the project generation program targeting new battery metal projects.
Shares in Metalicity were last trading at 2.7c.
