Metalicity’s (ASX: MCT) strategy to focus on the red-hot Paterson Province in ground adjoining mining goliath Rio Tinto is gaining momentum with the company appointing an exploration team to target copper mineralisation.
Corporate Geoscience Group (CGSG) will undertake an advanced mineral systems and targeting model for its recently secured copper exploration projects in the Paterson province of the Pilbara region.
CGSG will assist the company with data compilation, project evaluation, mineral systems and targeting models, to firstly ascertain areas of interest within the Desert Queen and Mandora Beach ELA’s for future exploration.
In addition, the team will also progress the company’s in-house copper prospectivity study across the remaining Pilbara region for future project generation and acquisition opportunities.
We are encouraged to have secured the services of Corporate Geoscience Group to assist taking our work to the next level and importantly generating high priority drill targets at the Desert Queen and Mandora Beach exploration projects,” Metalicity Managing Director Matt Gauci said.
“Having worked with Olli and the team previously on multi-million-dollar exploration projects in the Paterson province in conjunction with mining focused Private Equity and the Centre for Exploration Targeting (CET), we are more than aware of the deep insight, expertise and competitive advantage the team can bring to the exploration programs seeking copper in the Pilbara for Metalicity.
“With the impending sale of our zinc and lithium assets and the anticipated receipt of ~A$35M, we should be well placed to aggressively explore our copper projects in the Paterson 100% owned while also very well positioned to secure further opportunities through project generation and acquisition,” he added.
Today’s appointment comes after Metalicity announced it had secured more than 2,166km2 of exploration license applications in the Paterson province on tenements adjoining Rio Tinto’s land and within a copper corridor that hosts “numerous underexplored copper occurrences”.
Rumours have been swirling for some time that Rio Tinto has made a monster copper discovery on its 10,000 square kilometres in the region after a significant ramp up of activity by the major on its land.
CGSG is a highly experienced industry leading geoscience group with deep understanding of copper, gold and uranium systems particularly in the Paterson province of the Pilbara region.
Shares in Metalicity were trading at 1.7c on Thursday.