Government permits have paved the way for Metalicity to chase its lithium winner at Mt Surprise in Queenslan. Pic via Getty Images.
Metalicity gets the green light for lithium exploration at Mt Surprise
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Metalicity is clearly keen to get to grips with its new Mt Surprise lithium project with fieldwork poised to start after the licence was granted by the Queensland state government.
With the award of EPM 26052 in the state’s north, the company is now finalising targeted rock chip and soil sampling programs to test the sparsely explored project which features a historical rock chip sample with 3.55% Li2O, 125ppm tantalum, 0.25% caesium and 1.26% rubidium.
Metalicity’s (ASX:MCT) work will target new pegmatites and lithium mineralisation across the extensive land holding as well as test many unspecified dykes interpreted by the Geological Survey of Queensland for the presence of pegmatites.
“We are excited to be able to commence field work on grant of this project so quickly after being able to secure this exciting tenure,” chief executive officer Justin Barton said.
“Previous assays and field work undertaken on the tenure, although only in its infancy, shows very encouraging signs for the prospectivity of this ground with results of up to 3.5% lithium.
“Our team is eager to commence follow-up fieldwork, with further mapping and targeted rock chip and soil sampling being finalised.”
The approval for the lithium project and plans for its exploration are well-timed given forecasts that new lithium prices highs are just around the corner.
Mt Surprise exploration
Mt Surprise is located about 165km from Cairns and 57km northeast of the town of Mt Surprise.
It is considered to be prospective for lithium deposits hosted in pegmatites with lithium minerals such as spodumene and lepidolite as well as in volcanic rhyolites.
Planned field programs will begin with a thorough field review of the Mt Surprise area including detailed geological mapping and collection of rock chip samples targeting new pegmatites and potential lithium mineralisation across the extensive land holding.
The company will also undertake mineralogical analysis of selected rock chip samples from known outcrops to confirm lepidolite mineralogy and any other potential lithium-caesium-tantalum (LCT) bearing minerals that may be present, such as spodumene.
Information collected from the field programs will help direct more targeted exploration campaigns, which includes assessing the area for appropriate soil geochemistry techniques.
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.
