Metalicity Limited (ASX:MCT) has reported some early promising results from its maiden exploration drilling programme at the Kyarra Cobalt Project located in the Yerrida Basin, Western Australia.
The company says drilling has intersected a favourable stratigraphic setting and returned anomalous copper and cobalt analyses, which are consistent with the company’s exploration targeting model at Kyarra.
The Kyarra drilling programme is designed to understand the origin of anomalous surface cobalt geochemistry delineated over a target area of 2km x 3.5km.
Metalicity Managing Director, Matt Gauci, said the company is working closely with sediment-hosted copper-cobalt experts at CSA Global to plan the next stage of work at Kyarra, as well as future project generation for sediment-hosted copper-cobalt mineralisation. The company is now evaluating a range of additional opportunities, both in Western Australia and overseas, to build the company’s cobalt exploration portfolio.
Structural interpretation of the Yerrida Basin and the high grade and widespread levels of cobalt in our surface sampling results supported our view that Kyarra is prospective for copper-cobalt and nickel-cobalt deposits,” Mr Gauci said.
“Applying the prolific Central African Copperbelt exploration model, drilling continues to provide a body of evidence this model is stacking up.
Drilling intersected anomalous cobalt in every hole and importantly identified an 8-12m thick zone of mineralisation that may sit above the source of cobalt mineralisation, which the company will target in the next phase of exploration.”
The Kyarra Cobalt Project is well located in terms of access and infrastructure, located on the Goldfields Highway 40km west of Wiluna, in the Northern Goldfields region of WA.
The three tenements give Metalicity a strong position in the basin. which is to the south and is interpreted to adjoin the bryah basin where similar exploration models have discovered the very high grade de-grussa and Monty copper deposits.