Search

Metalicity defines targets for new Pilbara copper play

ASX listed base metals developer Metalicity Limited says it has outlined significant exploration targets for copper-gold at both of its recently secured large project regions in the Paterson province of the Pilbara region in Western Australia.

According to the company, both the northern Mandora and southern Desert Queen projects cover major geological fault structures it believes are related to major gold and copper discoveries in the emerging Paterson area.

In particular, both projects lie within the wide El Paso corridor that comprises Rio Tinto’s Winu, Antipa Resources’ Minyari and Greatland Gold’s Havieron copper-gold deposits.

At Mandora, Metalicity has delineated two priority targets covering a total area of 550 square kilometres, whilst at Desert Queen the company has also defined two targets totalling 358 square kilometres, from compilation and modelling of existing geophysical and geological data sets.

Metalicity Managing Director Matt Gauci said: “The target areas … are extensive, defined from geophysical and geological modelling utilising structural controls of known copper mineralisation in the Paterson including those activities undertaken by Rio Tinto, and where (that) company’s tenements are well located to the north and south”.

The Paterson geological province sits between the ancient Pilbara Craton to the west and the largely concealed North Australian Craton to the east and went largely unexplored up until the discovery of the massive Telfer deposit in the early 1970s.

The company considers the Paterson area real elephant country due to the metal endowment of the existing mine and copper-gold deposit discoveries in the broader district.

However, most of the region remains unexplored due to widespread shallow cover and masking younger sedimentary rock sequences over about 85% of the province’s defined boundaries.

Metalicity continues to progress a copper prospectivity study across the entire Pilbara region in WA, although large swathes of exploration licences and applications now envelop the Paterson province in what has become a modern-day pegging rush.

It will be very interesting to see whether the company’s first-mover advantage over nearly 2,200 square kilometres at the Mandora and Desert Queen project areas checks out.

If so, they will be in an enviable position of being on the cusp of some exciting new virgin discoveries in this vastly under-explored corner of Australia.

According to company management, neither of its new project areas have been the subject of any modern, systematic exploration techniques and so render them ripe for the picking.

The company is currently in the process of selling off its zinc and lithium interests to start focussing more clearly on its cobalt, nickel and new copper assets, including an interesting ground position in the revered Fraser Range of WA.

Metalicity has now adopted a primary focus on its copper and nickel exploration assets, based on the strong price outlook predicted to supercharge those commodities in the coming years.

2019 is shaping up to be a fascinating year for the company, with a significant cash flow injection from the anticipated sale of its large Admiral Bay zinc project and divestment of its non-core lithium assets, helping to underpin its push into the copper and nickel space.

Add your comment

BNIQ sponsored byDiversus

Metalicity (MCT)

Share Price

Closing price for the last 90 trading days
Source: Morningstar

BNiQ Disclaimer