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- MetalsTech (MTC) identifies seven new zones of potentially significant gold mineralisation from regional exploration assessment at its Sturec gold mine
- The exploration target contained a cumulative size range of between 37.9 million tonnes (Mt) and 58.2Mt at an average grade of between 1.79 grams per tonne (g/t) of gold equivalent (AuEq) and 2.75 g/t of AuEq, for a total of between 2.18 million ounces (Moz) of AuEq and 5.15Moz of AuEq
- The existing Sturec mineral resource is separate from the exploration target, which is 38.5Mt at 1.23 g/t of gold and 8.8 g/t of silver, containing 1.522Moz gold and 10.93Moz silver
- The company is awaiting a significant number of assay results from the recently completed diamond drilling from within drill chamber #2, which is part of the Phase 2 underground diamond drilling program
- MTC shares are up 11.5 per cent, trading at 29 cents
MetalsTech (MTC) has identified seven new zones of potentially significant gold mineralisation from its regional exploration assessment and review of historical exploration at its Sturec gold mine in Slovakia.
Each of the prospects have been historically drilled and/or explorated, demonstrating significant exploration upside.
The exploration target contained a cumulative size range of between 37.9 million tonnes (Mt) and 58.2Mt at an average grade of between 1.79 grams per tonne (g/t) of gold equivalent (AuEq) and 2.75 g/t of AuEq, for a total of between 2.18 million ounces (Moz) of AuEq and 5.15Moz of AuEq.
The prospects identified include Volle Henne which recorded between between 7.2 million tonnes and 9.6 million tonnes of AuEq.
The existing Sturec mineral resource is separate from the exploration target, which is 38.5Mt at 1.23 g/t of gold and 8.8 g/t of silver, containing 1.522Moz gold and 10.93Moz of silver.
The exploration target is based on the current geological understanding of the geometry of the mineralised zones at these prospects.
MetalsTech Director Gino D’Anna said the company “always had the belief that Sturec possesses incredible prospectivity outside of the existing mineral resource area”.
The company is awaiting a significant number of assay results from the recently completed diamond drilling from within drill chamber #2, which is part of the Phase 2 underground diamond drilling program.
In addition, MetalsTech has designed a diamond drilling program from surface which is designed to test each of the exploration target areas, with permits for the planned surface diamond drill program to be lodged in the immediate future.
MetalsTech’s scoping study also remains on track for completion in early Q2 of 2022 and is in the advanced stages.
MTC shares were up 11.5 per cent, trading at 29 cents as of 12:59pm AEDT.
