Metals Australia to acquire key battery metals and gold projects

Payne Gully has a suite of highly prospective battery and precious metals projects in key mineralised regions of Australia, including:

• The Warrambie Project – a granted exploration licence (EL) E47/4327 in the Pilbara region of Western Australia, located along strike 15 km west of the Sherlock Bay nickel sulfide project (Sabre Resources Ltd). Warrambie is considered highly prospective for mafic intrusive nickel-copper-cobalt sulfide mineralisation, analogous to Sherlock Bay and the Andover massive nickel sulfide discovery 20km to the west (Azure Minerals).
• The Murchison Domain Project, including granted E51/2058 and four large EL applications located along strike from major gold deposits such as the >5 million oz Big Bell deposit and the >3 million oz Mt Gibson mine in the Murchison Province of Western Australia. The Murchison Domain tenements are considered highly prospective for major gold deposits as well as Ni-Cu-Co-PGE and/or lithium mineralisation.
• The Tennant Creek Project in the Northern Territory, which includes granted E32725, directly along strike within the corridor east of the Warrego copper-gold mine and three EL applications both north and south of Tennant Creek near key iron oxide copper-gold (IOCG) deposits. The Tennant Creek Project is considered highly prospective for IOCG discoveries of the Tennant Creek style.

The acquisition of Payne Gully will enhance the company’s portfolio of battery metals and gold projects with multiple targets in Tier 1 jurisdictions – Western Australia and Northern Territory.

Metals Australia Chairman, Mike Scivolo, said:

“The company has taken advantage of an outstanding opportunity to acquire a suite of highly prospective battery metals and gold projects with multiple drill targets near major deposits in Tier One jurisdictions.

“These new projects give Metals Australia the opportunity to build on its exploration success over the past few months. This includes at our Manindi Project in WA, where multiple high-grade lithium pegmatite intersections have been produced and where we have also identified high-grade zinc resource extensions and made a new vanadium with nickel, copper, and cobalt discovery.

“The Payne Gully acquisition is in line with the company’s focus on projects in highly-prospective mineralised terranes ,such as in the Yilgarn and Pilbara regions of Western Australia and the Tennant Creek region of the Northern Territory.”

Read the article online at: https://www.globalminingreview.com/mining/20062022/metals-australia-to-acquire-key-battery-metals-and-gold-projects/