Metalicity Limited announced that it has identified extensive surface and near surface cobalt anomalies over a 25km strike at the Kyarra Cobalt Project, located in the Yerrida Basin in Western Australia.
The Perth-based miner said these anomalies were identified from a desktop review of the Department of Mines and Petroleum (DMP) ‘MINEDEX’ database which contains extensive data on previous exploration activities undertaken within the project.
“Within the E51/1756 tenement of the Kyarra Cobalt project, anomalous historical results include up to 0.64% Co in surface samples and 2m at 612 ppm Co from drilling, across an initial strike extent of approximately 25km,” Metalicity told the ASX.
“The extent of the anomalism highlights the potential for a significant cobalt mineralising system. Exploration efforts have been accelerated focusing on this high priority area.”
The company’s Managing Director Matt Gauci said these findings, coupled with the project’s favourable location and access to infrastructure for exploration and mining, made the Kyarra Cobalt project a valuable asset.
“The extensive cobalt anomalism identified from initial work on the Kyarra Cobalt project over an initial 25km strike extent represents a compelling target area for follow up field work and drill testing, which is planned for the March Quarter upon grant of the tenements,” he added.
“The existing high sovereign risk supply of cobalt and lithium-ion batteries driven demand, means Metalicity is highly leveraged to exploration success at Kyarra. The project is also complementary with our portfolio of lithium and graphite projects also located in WA.”