Multiple Outcropping Pegmatites in Metalicity’s new lithium acquisition

Metalicity’s diversification into lithium continues apace as it adds a second highly prospective project in northern Queensland with multiple outcropping pegmatites to its portfolio.

Historical mapping and sampling at the new Georgetown project – located just 40km west of the town of Mt Surprise and 70km southwest of its Mt Surprise project – identified pegmatites hosted in volcanic metasediments that strike over at least 3km.

This work has also mapped out other unidentified felsic intrusive dykes over a strike length of several kilometres in the north-eastern area of the tenement.

More importantly for Metalicity (ASX:MCT), Georgetown remains sparsely explored, meaning that there are plenty of opportunities for the company to really exercise its exploration muscle.

“We are incredibly pleased to have been able to secure another exciting lithium project, which adds to the recently secured Mt Surprise lithium project and strengthens our land position in the area,” chief executive officer Justin Barton said.

“We know Georgetown is completely under explored, but to have a project with several strike kilometres of pegmatites and other felsic intrusive that have never been assayed for lithium and associated metals is very significant.

“We believe there is a strong chance there are lots more outcropping pegmatites on the ground and we look forward to starting exploration works there as soon as possible.”

The securing of the new project comes as the company moves to finalise targeted rock chip and soil sampling programs to test Mt Surprise.

Georgetown lithium potential

The Georgetown project covers an extensive area and a wide range of prospective lithologies including the White Springs Granodiorite, Einasleigh Metamorphics as well as a number of other intrusives, volcanic and non-volcanic metasediments.

It is located within a region with numerous mineral occurrences of precious and base metals as well as lithium-caesium-tantalum (LCT) occurrences including the Buchannan pegmatite hosted lithium-tantalum deposit held by Strategic Metals Australia.

With lithology similar to that at Mt Surprise, Metalicity believes that Georgetown is fertile for more LCT pegmatites prospective for lithium mineralisation.

Initial exploration will focus on the known outcropping pegmatites and other felsic intrusives though it is expected that just minimal work on the remaining tenure could open up more opportunities to identify more prospective lithium mineralisation.

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.