With the planned spinout of the globally significant Admiral Bay zinc deposit progressing, minerals explorer Metalicity (ASX:MCT) has bullocked its way into battery minerals prospecting, releasing some impressive lithium hits at its Western Australian projects.
The company has identified two lithium target areas and a number of anomalies through geochemical sampling and geological evaluation at its wholly owned Greenbushes Northproject, located in Western Australia’s South West.
The Greenbushes name carries significant weight in battery metals circles, with the Greenbushes deposit – located 35 km south of Metalicity’s Greenbushes North – housing one of the world’s largest and highest-grade lithium deposits.
Greenbushes contains a massive 118Mt of spodumene ore at an average grade of 2.4% lithium with an ore feed containing 3%-4.5% Li20. It currently supplies approximately 30% of the worlds lithium.
For Metalicity, the initial exploration work supports a strong investment case, with Greenbushes North following the Donnybrook-Bridgetown Fault, interpreted to be the major controlling geological structure for the Greenbushes deposit.
The exploration program has identified important criteria for the discovery of buried LCT-type lithium pegmatites similar to those which host the world class Greenbushes deposit,” Metalicity managing director Matt Gauci said.
Commenting on the latest activities at Greenbushes North, Mr Gauci added: “The anomalies cover an extensive total area of ~30km2 and exploration teams are being mobilised to progress work programs at these new prospects.”
Metalicity has signified its intent to undertake a follow-up infill sampling program at the two target areas, as well as limited laterite sampling around two single-point anomalies.
Greenbushes North covers a total area of 70 km2, located over freehold land and partial state forest, for which the company is progressing standard access agreements.