Metalicity adds to Queensland portfolio with highly-prospective Georgetown lithium tenement
Explorer Metalicity has been granted exploration permit application, EPM 28121, comprising an area of 90 sub-blocks totalling around 300km2 in North Queensland.
It’s a great result for the company, after a lengthy application and Native Title advertising process, with the project underexplored and considered to be highly prospective for various minerals including gold, lithium, battery and base metals.
Plus, it’s just 20km east and south from Georgetown and approximately 75km southeast from Metalicity’s (ASX:MCT) Mt Surprise Project. Within the Georgetown District it is estimated that over 650,000 ounces of gold was produced in the late 1800s to early 1900s with the Kidston Gold Mine producing 5.1 million ounces of gold over its life between 1985 and 2001.
Historical mapping at Georgetown has identified multiple outcropping pegmatites and other felsic intrusives hosted in metasediments over a strike length of several kilometres in the northwest areas of the tenure.
“We are really pleased to finally get a grant of the Georgetown tenure and commence field work on this completely under explored but highly prospective area,” MD Justin Barton said.
“To be able to secure this tenure in such an historically mineral rich area, with several strike kilometres of pegmatites and other felsic intrusives that have never been assayed and within several kilometres of Buchannan pegmatite hosted lithium-tantalum deposit held by Strategic Metals Australia is incredibly exciting.”
Notably, drilling at Buchannan reported average grades of 1.32% Li2O, 250ppm Ta2O5, 620ppm SnO2, 0.13% Cs2O and 0.5% Rb2O.
Within the northern area, several outcropping pegmatite dykes were mapped by the Geological Survey of Queensland from exposed outcrops with a total strike length of up to 3km – which will be the initial investigation sites for detailed field mapping and rock chip sampling.
The entire exploration permit will also undergo a full geophysical survey data review to assist in generating exploration targets.
“Our technical team are currently finalising fieldwork activities and will commence initial fieldwork on this new tenure and re-commence activities at our rapidly emerging Mt Surprise project,” Barton said.
Metalicity is also awaiting the processing and interpretation of over 300 ultrafine soil samples at the Mt Surprise Project in the coming weeks which will help expand on current exploration targets and enable the generation of future priorities.
This article was developed in collaboration with Metalicity, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.