Metalicity Ltd acquires cobalt project in the Yerrida Basin
Date
10/4/2016 1:24:39 AM
(MENAFN- ProactiveInvestors - Australia)
Metalicity Ltd (ASX:MCT) has lodged exploration license applications in an area considered highly prospective for cobalt mineralization in the Yerrida Basin of Western Australia.
The three exploration license applications cover an area of 210 square kilometres and are located in a newly identified cobalt district in the Northern Goldfields.
Metalicity";s Kyarra Cobalt Project adjoins Dragon Energy Ltd";s (ASX:DLE) Tabac Cobalt-Gold project where significant intersections of cobalt have been reported including 80 metres at 0.77% cobalt.
Anomalous historical results have been reported within the Kyarra Cobalt project area, including up to 0.64% cobalt from surface samples and 2 metres at 612 ppm cobalt from drilling.
An initial strike extent of circa 25 kilometres highlights the potential for a significant cobalt mineralised system.
The Kyarra Cobalt project is well located in terms of access and infrastructure for exploration and mining.
The project is situated on the Goldfields Highway, 40 kilometres west of Wiluna.
Desktop and field exploration work is currently underway with the compilation of historical exploration data and re-processing of relevant geophysical data.
Metalicity is also carrying out geochemical sampling and field surveys to identify priority areas for drilling once the tenements are granted, which is expected to be in the first half of 2017. <
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