Metalicity Picks Up Australian Graphite Projects

Metalicity Ltd. (ASX:MCT) announced that it’s entered into a tenement sale letter agreement to acquire one EL and one ELA considered “highly prospective” for high-grade graphite mineraliztion. Both are located in Western Australia’s Munglinup district.
Other highlights include:

• New projects adjacent to one of the world’s highest grade graphite deposits at Munglinup
• Geographic Information System (GIS) and geological database compilation underway
• Airborne EM (VTEM) data interpretation and modelling underway to refine drill targets
• Appointment of experienced personnel in the Graphite exploration industry

Matt Gauci, managing director of Metalicity, commented:

While the main focus of the company is our well-funded base metals programs with approximately $5m cash in the bank to advance the Admiral Bay Zinc Project, it is clear the graphite sector has a strong demand profile and we have secured highly prospective projects in one of the world’s highest grade graphite districts and appointed experienced personnel to the project.

Click here to read the full Metalicity Ltd. (ASX:MCT) press release.