Metalicity believes its recently acquired Napier Range project in the Lennard Shelf, Kimberley Region, is a significant early cash flow opportunity.
Speaking today at the RIU Explorers Conference in Fremantle, Metalicity project manager Leonardo Romero said acquisition of high grade Napier Range Zinc Project and Emanuel Range Zinc Project adds to the company’s zinc portfolio.
I am really excited about Napier Range,” he said. “It is a lot easier to bring into production.”
“Napier Range is a high-grade, near-surface and a potentially low-capital project and easy to execute without much input needed from external parties.”
Mr Romero said Napier Range – which Metalicity acquired last month – was potentially Metalicity’s starter mine with cashflow to assist in financing development of its massive Admiral Bay zinc project.
Napier Range is a Mississippi Valley Type, or MVT, ore deposit which meant excellent recoveries.
The project has an Inferred Mineral Resource Estimate of 750kt at 13.6% ZnEq (5.8% Zn, 7.2% Pb and 54g/t Ag).
Metalicity has recently kicked off exploration along a 4km strike of zinc targets at Napier Range. 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.
Admiral Bay has an inferred mineral resource estimate of 170Mt at 7.5% ZnEq with In-situ contained metal of 7.0Mt zinc, 4.6Mt lead and 137Moz silver.
Metalicity is progressing JV, offtake and investment discussions regarding development with positive negotiations advancing with Chinese State-Owned Enterprises.