Metalicity Limited (ASX: MCT) has obtained “outstanding” high-grade rock chip results from the company’s maiden exploration programme at its newly acquired 100% owned Mt Surprise Project (EPM 28052) in Queensland, Australia.
These assay results from rock chip sampling support the visual observations regarding the prospectivity of the Project and potential target areas.
“To find an outcropping gossan of that size was particularly interesting, but to have these high-grade results returned is an excellent endorsement of the high prospectivity of this recently acquired tenure and to the company’s maiden exploration activities in North Queensland,” Managing Director, Justin Barton, said.
“This now provides Metalicity with multiple mineral anomalies and targets to follow up. To confirm the significant historical Copper results of >20% is very exciting, whilst the tenure still remains highly prospective for Lithium.”
Assay results from the initial batch of rock chip samples indicate the presence of high-grade copper mineralisation from historic excavations and confirmed visual observations of abundant copper sulphide mineralisation.
Rock chip samples were collected in situ from observed veins as well as wall rocks adjacent to veining from costean walls and as representative samples from small trenches through areas of the mining waste spoil which was observed to contain abundant copper sulphide mineralisation
Metalicity assessed the location of the 1988 Battle Mountain exploration report of >25% Cu. After careful consideration and mapping of the exposed mineralised lodes worked by historical workers, it was determined that to achieve a copper grade of >25%, an incredibly high proportion of the sample needed to be predominately malachite and/or azurite +- any other less obvious copper minerals.
Therefore, in an exercise to attempt to replicate the tenure of this sample, industry standard channel sampling was adopted across in situ material ensuring appropriate representivity, but a separate sample to validate and replicate as best possible the historic rock chip result from the 1988 Battle Mountain exploration report of >25% Cu was also taken. The sample, MCT39146, collected from the northern-most excavation, returned an assay grade of 20.75% Cu and 41.7 g/t Ag which is within range of the historic sample
Additionally assay results from three rock chips samples collected from an area of gossanous outcrop of approximately 5.0 metres in width and 100 metres long within a rhyolitic or felsic dyke, have identified a new base metal mineralisation anomaly within the Mt Surprise Project area of EPM 28052. These samples returned assay results elevated in lead up to 2.9% Pb and 45 g/t Ag silver as well as elevated zinc and other indicator minerals. These results were unexpected and now provide Metalicity with another exploration anomaly to test along with copper targets and any potential lithium anomalies.
Next Steps
Metalicity is currently planning a follow up field programme to gather more information to further delineate the extent of the copper and base metals anomalies and targets. This work may include programmes of low detection level soil sampling, rock chip sampling and further geological reconnaissance mapping.
The Company is also still awaiting assay results from some potential lithium samples from a limited sample
taken on the maiden field trip, which are undergoing greater detailed elemental and mineralogical analysis at the Perth Intertek Genanalysis laboratory. These results will help define a future targeted lithium programme at Mt Surprise.
For further information please visit: https://www.metalicity.com.au/
