logo-loader
viewMetallica Minerals Limited

Metallica Minerals unveils maiden Lucknow Scandium rare earth deposit

no_picture_pai.jpg

Queensland-based Metallica Minerals (ASX: MLM) has inked an Indicated and Inferred Scandium Resource at Lucknow Sc deposit of 6.1 million tonnes at 169ppm SC (using a 70g/t cut off grade).  This includes a high grade scandium zone at Lucknow of 4Mt @ 205 g/t Sc.

The initial Lucknow Sc resource was derived from ata from 298 RC holes, totalling 7,036m.

Scandium ore at Lucknow in North Queensland is covered by a joint venture agreement between Straits Resources (ASX: SRL) (20%) and Metallica Minerals (80%).  Under the agreement, all scandium ore is to be mined or stockpiled separately and kept for later processing by the JV.

Scandium is a Rare Earth Element (REE) which has the potential to significantly enhance the "green economy”. It is currently used in fuel cells, high strength low weight aluminium alloys, high intensity lamps and structural ceramics.

The Lucknow Scandium Laterite deposit is within the NORNICO nickel-cobalt-scandium project in North Queensland.

This boosts the NORNICO Sc resource by 105% from 9Mt @ 109g/t Sc to 15.1Mt @ 133 g/t Sc (with a 70 g/t Sc COG).

The combined Kokomo and Lucknow Scandium resource is now in excess off 2,000 tonnes of contained scandium metal (approximately 3,000t scandium oxide).

Andrew Gillies, managing director of Metallica said there is potential to increase the size of the scandium deposits.

Future Work will entail the drilling of 3 to 4 PQ Diamond drill holes for metallurgical, geological and bulk density purposes.  Additional metallurgical testwork will be undertaken.   Initial pit design and scheduling is planned.

The lack of readily available and reliable long term scandium supply in the market has limited its commercial applications to date.

Quick facts: Metallica Minerals Limited

Price: 0.011 AUD

ASX:MLM
Market: ASX
Market Cap: $3.56 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

American Resources Corporation's CEO sees massive infrastructure demand out...

American Resources Corporation's (NASDAQ:AREC) CEO Mark Jensen tells Proactive that the producer of metallurgical coal used for the steel industry sees massive incremental infrastructure demand out of international markets, including India. Jensen says to fuel this demand, the Indiana-based...

33 minutes ago

2 min read