YERIDA COBALT EXPLORATION COMMENCES

Highlights:

  • RC drill rig has mobilised to the Yerrida Cobalt Project to test deeper structures at the K1 copper-cobalt target, identified from field mapping, sampling and the company’s initial 1,800m RC drill program, which intersected a significant cobalt horizon to a depth of 150m
  • The shallow, south-dipping cobalt horizon contains anomalous mineralisation associated with highgrade sulphides associated with deeper structures from the underlying “red bed” sandstones
  • Field exploration teams have also commenced work, including rock chip sampling and geological mapping to generate further drill targets at K2, K3 and K4 within the Yerrida Basin
  • Metalicity has developed an exploration model that has characteristics compatible to the Central African Copperbelt – a prolific copper-cobalt and nickel-cobalt geological setting
  • The additional targets have been generated via a recent review of the entire Yerrida Basin by the preeminent Dr Dennis Gee and analysis of previous work by copper-cobalt expert Dr Simon Dorling
Metalicity Limited (ASX:MCT) (“MCT” or “Company”) is pleased to report an RC drill rig and field exploration team have commenced work at the 100% Metalicity-owned Yerrida cobalt project, located in WA.

The exploration activity will investigate the Yerrida project’s geological setting, which is considered analogous to the Central African Copperbelt, a prolific mining province hosting structural/stratigraphic-controlled copper-cobalt and nickel -cobalt sulphide mineralisation.

The planned drill program is targeting deeper structures from the the shallow, south-dipping, zone of 8m to 12m cobalt horizon. Exploration at the horizon recently intersected anomalous cobalt mineralisation which provides support for the geological setting’s potential to host further high-grade copper-cobalt mineralisation associated with the underlying “red bed” sandstones of the Yerrida Basin.

Additionally, field exploration teams have commenced a work program, including geological mapping and rock chip sampling, using a 250m X 250m pattern over a radius of 1km, to generate further drill targets at K2 and K3 which have been recently generated within the Yerrida Basin.

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