Additional Information
Market: ASX
Sector: General Mining - Nickel and Cobalt
EPIC: MLM
Latest Price: A$0.23  (0,00%)
52-week High: A$0.52
52-week Low: A$0.20
Market Cap: A$32.26M
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Metallica Minerals
www.metallicaminerals.com.au

Metallica Minerals are a  multi commodity resource company with major interests in
Nickel-Cobalt
Coal – Energy
Bauxite
Tungsten
Copper-Gold

Since its establishment in 1997 and ASX listing in November 2004, Metallica Minerals (ASX code: ‘MLM’) has maintained a core focus on the sustained development of its flagship NORNICO nickel-cobalt project in northern Queensland, while expanding its business through a complementary series of strategic resource project acquisitions, non-core asset sales, corporate alliances, and cutting-edge technological advances.

Pdf

Metallica Minerals boosts Kokomo resource with high-grade scandium find

10th May 2010, 9:29 am

Metallica Minerals (ASX: MLM) has reported that high-grade scandium (Sc) mineralisation has been discovered  in North Queensland, adding to the existing Kokomo Sc Resource.

The Lucknow Nickel-Cobalt-Scandium laterite (or oxide) deposit is located approximately 2km southwest of the Greenvale township and approximately 6km southeast of the Greenvale Nickel Mine site in North Queensland (190km west of Townsville).

A bonanza intercept of 27m @ 882g/t Sc (incl. 9m @ 1,417g/t Sc) was made at one of the Nickel-Cobalt-Scandium holes at Grants Gully. High grade Nickel (Ni) & Cobalt (Co) zones were also intersected.

156 RC holes (3,520m) have been completed and all assay results from the Lucknow Phase 1 drilling program have been received and confirm the presence of high grade Ni-Co mineralisation at two of the areas drilled.

The nickel–cobalt and scandium mineralisation remains open and additional drilling will be required to determine the extent of the mineralisation, with a focus on high grade zones. This work is planned for the end of May.

The company said additional detailed resource drilling (Phase 2) is planned between 3 high grade zones, each ~550m apart.

Metallica Minerals subsidiary, Greenvale Operations Pty Ltd, owns the two tenements (EPM’s 10680 and 10860) that cover the Lucknow Ni-Co-Sc deposit.

Metallica owns 100% of the Lucknow scandium rights and 80% of the Kokomo scandium rights. Joint venture partner, Straits Resources Ltd (ASX:SRL), holds 20% of the Kokomo scandium rights.

The Kokomo scandium resource occurs within the Kokomo Ni-Co laterite (or oxide) project located approximately 50km NNE of Greenvale.

The Measured, Indicated and Inferred scandium Mineral Resource (at a COG of 70g/t Sc) stands at 9.0 Million Tonnes (Mt) at 109g/t Sc containing approximately 1,480 tonnes of scandium oxide (Sc2O3).

The company said there is excellent potential for a high grade Ni-Co and Sc ore feed for the proposed Ni-Co-Sc processing plant at the Greenvale mine site to maximise metal revenues, operating margins and payback.

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