- Following completion of the acquisition of the high-grade Napier Range Zinc Project and the institutional placement, exploration has commenced along a 4km strike of zinc targets.
- High priority targets are being refined from recent field mapping, rock chip sampling, drill hole database review and resource block model review for upcoming drilling program.
- Remote sensing survey re-processing will include IP and gravity data re-processing utilising improved inversion algorithms and comprehensive gridding techniques.
- 5,000m diamond and RC resource and exploration drilling program to commence at the Napier Range Zinc Project, with a program of works (POW) approved, targeting a June Quarter start.
- Resource targets within the existing Mineral Resource Estimate (MRE) of 750Kt at 5.8% Zn, 7.2% Pb, 54g/t Ag (13.6% ZnEq) to be targeted to progress the existing Inferred MRE to the Indicated category.
- Exploration targets outside of the resource along the 4km strike extent to be tested for new mineral discoveries including 3 of 9 targets defined to date.
- Napier Range represents a high grade low capital and near term producing zinc project for Metalicity.
- Napier Range is classed as Mississippi Valley Type (MVT) deposit which typically demonstrate simple and conventional process flowsheet design, high metal recovery and excellent clean concentrate quality.
- Metalicity is uniquely positioned to explore, develop and mine the projects, given its extensive knowledge gained via the exploration and development of the nearby Admiral Bay Zinc Project.
- JV, Offtake and investment discussions regarding the Admiral Bay Zinc Project development progressing well with positive negotiations advancing with Chinese State-Owned Enterprises (SOE’s).
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