Perth-based company, Metalicity, is asserting their focus on battery metals (lithium, cobalt, graphite) exploration within its extensive and highly prospective landholding in Western Australia.
Exploration within the Pilgangoora North Lithium Project has officially been completed. The project included mapping and sampling the Pilgangoora region. Metalicity has also just accomplished mapping, sampling and drilling at the Yerrida Cobalt Project.
Moving on from this, Metalicity has voiced goals of generating new drill targets in the near future, and to drill existing targets with assays, and evaluation. With support from shareholder and battery metals company, Shanghai Metals, Metalicity has a memorandum of understanding (MoU) in place for offtake, project development and financing.
“Metalicity Limited is pleased to report the company is stepping up its focus on battery metals exploration within its extensive and highly prospective landholding in WA, following its agreement to the terms of the sale and purchase of its base metal (zinc) projects,” the company said in a statement.
In the meantime, the company has commenced a battery metals project generation program in Western Australia from a geological database compiled over the past two years and is currently evaluating a pipeline of additional battery metals exploration opportunities with an update on this program (due to be released to the public shortly).
Metalicity is also set to be leveraged for additional upside at Admiral Bay, having strategically refocused the company to deliver value from prospective and under-explored battery metals projects.
“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,” said Metalicity Managing Director, Matt Gauci.
Lastly, the company has reached an agreement with Kimberley Mining Limited on the terms for the sale and purchase of its base metal (zinc) projects, targeting the receipt of C$32.5M cash/shares to Metalicity over the next 24 months.
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