Metalicity acquires Fortescue’s WA lithium tenements

Latest News

• Tropicana position strengthens amid IGO exit plans
• Newcrest culls Cadia costs into negative territory
• Follow the leaders: This week’s executive movements
• Fortescue adds record shipments to list of milestones

Metalicity has entered an agreement to acquire Fortescue’s (FMG) lithium exploration portfolio in Western Australia’s Pilbara region, including the Lynas Find North lithium project.

The project includes three tenements covering 51km² in the north of the Pilgangoora Greenstone Belt.

The Lynas Find North lithium project is also 8km along strike from Pilbara Minerals’ Pilgangoora lithium deposit and Lynas Find lithium project. Pilbara Minerals recently signed an offtake agreement to supply 1.9MT of direct shipping ore (DSO) to China’s Shandong Ruifu Lithium.

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

Exploration is underway to define the drill targets, with drilling expected to begin in the March quarter of 2017.