Metalicity Ltd. (ASX:MCT) announced that it has completed the first phase of a prefeasibility study (PFS) for its Admiral Bay zinc project. According to the company, the PFS confirms that the project “has the potential to support a capital efficient, long life and low-cost zinc/lead/silver operation.”
Other highlights include:
- Highly capital efficient Direct Shipping Ore (DSO) starter concept incorporated into the development plan.
- Mining studies evaluated potential mining methods and their geotechnical and hydrogeological impacts, with positive initial results from within the high grade zone.
- Resource validation and definition of the high-grade zone recommended for next drilling program.
- Conventional flotation processing with high projected metal recoveries with further metallurgical testwork underway with China Minmetals to confirm international saleable concentrate.
- Admiral Bay PFS Stage 2 to be undertaken with a JV partner, discussions with multiple parties advanced.
Matt Gauci, managing director of Metalicity, commented:
The Pre-Feasibility Stage 1 has delivered outstanding results for Admiral Bay and has de-risked the project in key areas that were identified from the Scoping Study and from discussions with potential JV partners.