- MetalsTech (MTC) begins phase two diamond drilling at its Sturec Gold Mine in Slovakia
- Work will be undertaken from Drill Chamber 2 to increase the confidence of the geological interpretation
- Furthermore, Bara Consulting has been appointed to complete a scoping study
- The aim of this study is to demonstrate the future development of the mine based on a bulk-tonnage underground gold mining operation
- MetalsTech is up 6.82 per cent on the market with shares trading at 23.5 cents
MetalsTech (MTC) have begun its phase two diamond drilling program at its Sturec Gold Mine in Slovakia.
Sturec lies 17 kilometres west of Branska Bystrica in Central Slovakia and has a JORC 2012 resource of 21.2 million tonnes at 1.5 grams of gold per tonne (g/t) and 11.6g/t silver.
Work will be undertaken from Drill Chamber 2 which lies 70 metres south from Drill Chamber 1 where phase one drilling was completed.
This phase two drilling will follow the south-trending, high-grade mineralisation further to the south.
MetalsTech will also aim to increase the confidence of the geological interpretation of Drill Chamber 2.
Furthermore, MetalsTech has appointed Bara Consulting to complete a scoping study at Sturec.
The aim of this study is to demonstrate the future development of the mine based on a bulk-tonnage underground gold mining operation.
The scoping study is expected to be complete during Q4.
Chairman, Russell Moran, is ready to begin drilling at Sturec.
“Phase one drilling yielded outstanding results and led to a significant JORC resource upgrade to more than 1.5 million ounces of gold. This second underground drilling campaign will test the deposit’s growth potential both along strike and at depth,” Mr Moran said.
“In addition to drilling, we have also initiated a regional exploration program outside of the core deposit area to follow up on a suite of high grade gold targets.”
MetalsTech was up 6.82 per cent on the market with shares trading at 23.5 cents at 3:55 pm AEST.