Armed with a drill rig and field team on site, ASX-listed explorer Metalicity (ASX:MCT) is on the hunt for high-grade cobalt at its Yerrida project, located in Western Australia’s Mid-West region.
The company is not only looking for anomalous deposits of the battery mineral, it is also looking for similarities to the Central African Copperbelt, one of the world’s most prolific copper-zinc structures.
A recent mapping analysis undertaken by the company suggests the geological setting at Yerrida may be analogous to the Central African Copperbelt.
The planned exploration will occur around a previously identified, south dipping cobalt horizon, with exploration of the structure already retuning positive results.
“The commencement of exploration at Yerrida is of significant importance to the Company, as we are not only targeting deeper, highly-prospective structures adjoined to the identified cobalt horizon, we are also testing an exploration model which could deliver substantial exploration upside,” Metalicity managing director Matt Gauci said.
At a time when battery minerals are increasingly in demand, globally, Metalicity is investigating the similar geological setting shared by the Yerrida project and the internationally renowned Central African Copperbelt,” he said.
The company will also be conducting a series of rock chip sampling, using a 250m X 250m pattern over a radius of 1km, and mapping tasks at its other prospects within the Yerrida project.
The aim of the field work is to identify followup drill targets to best understand the setting of the potential ore body.
Shares in Metalicity last closed at 3 cents per share.