Metalicity’s new CEO to drive Paterson exploration
ASX listed Metalicity has appointed Non-Executive Director Mathew Longworth as its new Chief Executive Officer to drive the company’s new focus on the exploration for copper and nickel in the sought after Paterson province of the Pilbara region in Western Australia
This follows founding Managing Director Matt Gauci’s decision to step down from his position with effect from 10 January 2019. He will remain as a consultant to assist with the transition.
Metalicity has turned its attention to the large Paterson copper exploration play after divesting its Pilbara lithium project tenements to Chilean heavyweight SQM for about $1.35m and a 1% net smelter royalty last month.
It also signed a binding agreement with ASX listed Great Western Exploration for the 100% sale of its Yerrida cobalt project, located near Wiluna in the northern Goldfields region of WA.
The company will receive $50,000 in cash and $120,000 worth of Great Western shares at 0.6c per ordinary share as a consideration.
Metalicity also spun off its giant Admiral Bay and Lennard Shelf zinc projects into Toronto Stock Exchange-listed Kimberley Mining earlier in 2018.
Chairman Andrew Daley said: “With the sale of Admiral Bay, and the acquisition and options on new copper and nickel exploration projects, it is a logical point to look at succession planning and build on our exploration and technical management team.”
He has served at Heron Resources in the successive roles of Exploration Manager, Chief Operating Officer and Managing Director, and was the General Manager of a national mining consulting firm.
Metalicity said in December that it has outlined significant exploration targets for copper-gold at its two project regions in the Paterson province.
Both the northern Mandora and southern Desert Queen projects cover major geological fault structures that the company 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.
In November last year, Metalicity also secured options over nearly 650 square kilometres of prospective looking nickel-copper-gold exploration tenements over two projects in the sought after Fraser Range region in southern WA. Those new projects are surrounded by operating mines and significant mineral occurrences.
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