Metalicity Limited has acquired a prospective lithium exploration portfolio in the Pilbara region of Western Australia from Fortescue Metals Group.

The acquisition includes the Lynas Find North Lithium Project. This project comprises three granted tenements covering an area of around 51km² in the Pilgangoora Greenstone Belt.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The project is located around 8km from the Pilbara Minerals Pilgangoora lithium deposit.

Within the project, lithium bearing pegmatites have been identified, although systematic exploration was not undertaken.

Initial investigations found high-grade intercepts, including 21m at 2.64% towards 500m to the south.

Metalicity Limited managing director Matt Gauci said: “The agreement provides the company with exciting new additional lithium targets in the world-class Wodgina/Pilgangoora district.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
"The agreement provides the company with exciting new additional lithium targets in the world-class Wodgina/Pilgangoora district."

“Our exploration activities in the region are quickly gathering momentum with drilling completed at Stannum, drilling planned at Turner River and exploration teams immediately mobilised to commence an on-the-ground evaluation of Lyas Find North.”

Currently, exploration is underway at the Pilbara Minerals high-grade Lynas Find spodumene deposit located 500m south from the acquired tenement. This review and exploration will help to identify drill targets.

Metalicity expects to start drilling in the first quarter of 2017.

The transaction with Fortescue Metals was settled through a combination of cash and Metalicity securities.

Under the agreement, Metalicity will pay A$250,000 ($181,470) with five million fully paid ordinary shares after the settlement.

An Australian mining exploration company, Metalicity focuses on base metal sector. Currently, it is developing the Admiral Bay Zinc project in the country's north-west.