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).