MetalsTech Limited: Major Exentsion Potential at Sturec Gold Mine
(firmenpresse) - ** 90m (at) 3.88 g/t Au and 13.9 g/t Ag **
* Bonanza grades up to 89.1 g/t Au *
Highlights
- UGA-04 intersected a thick continuous mineralized zone of 90m (at) 3.88 g/t Au and 13.9 g/t Ag from 0m (0.3g/t Au cut-off, downhole thickness) including:
o 9m (at) 11.66 g/t Au and 62.3 g/t Ag from 14m (2g/t Au cut-off);
o 6m (at) 33.76 g/t Au and 36.2 g/t Ag from 43m (1g/t Au cut-off); and
o 1m (at) 89.1 g/t Au and 69 g/t Ag from 47m
- UGA-04 and UGA-05 cover a significant >150m step out from the existing JORC (2012) Mineral Resource at the Sturec Gold Mine with mineralisation open down dip
- Additional assays from samples higher in UGA-03 have significantly increased the mineralised zone by 14m to 73m (at) 2.14 g/t Au & 8.8 g/t Ag from 211m (0.3g/t Au cut-off, downhole thickness)
- UGA-05 has been completed to a depth of 140.46m and assays are rush pending
- UGA-06 has been completed at to a depth of 116.50m and assays are rush pending
- UGA-07 is currently underway and represents a step out down dip of approximately 15 metres from UGA-06 along the hangingwall of the interpreted mineralised zone and approximately 60m along the footwall margin
Commenting on the results for UGA-04, MetalsTech Chairman, Russell Moran stated:
This is an outstanding result for what is only our fourth drill hole on this project in an area than has never been drilled before. It looks like we are going to get a nice thick extension of the mineralised zone over the current 150m step out. We will be looking to see how far we can extend this zone down dip with these next few holes, then we will look to step out further.
MetalsTech Limited (ASX: MTC) (the Company or MTC) is pleased to provide stakeholders with an update on its diamond drilling program at the Companys 100% owned Sturec Gold Mine, located in Slovakia (Sturec). To date the Company has completed six diamond drill holes as part of the Companys maiden underground drilling program from within the Andrej Adit. The current drilling program has been designed to test for southern extensions to the high-grade plunging zone within the existing Sturec Mineral Resource.
The drill hole collar details are set out in Table 1 below.
Drill EastinNorthiRL Datum Azi Dip (EOH
hole g ng (m) ( °) Depth
name ( ( °TN) (m)
m) m)
UGA-01-435,8-1,230656 S-JTSK/ 017 -53 346.05
52 ,204 Krovak
UGA-0-435,8-1,230656 S-JTSK/ 022 -46 293.46
2 52 ,204 Krovak
UGA-03-435,8-1,230656 S-JTSK/ 007 -45 287.25
52 ,204 Krovak
UGA-04-435,8-1,230656 S-JTSK/ 297 -80 140.90
52 ,204 Krovak
UGA-05-435,8-1,230656 S-JTSK/ 200 -60 140.46
52 ,204 Krovak
UGA-06-435,8-1,230656 S-JTSK/ 350 -60 116.50
52 ,204 Krovak
UGA-07-435,8-1,230656 S-JTSK/ 355 -70
52 ,204 Krovak
Table 1: Drill Collar details
Drilling Assay Results from UGA-04
Drilling of UGA-04 was completed to a depth of 140.90m. Drill hole UGA-04 was planned to extend the interpreted mineralised zone approximately 100m along strike from the southern extent of the Sturec JORC (2012) Mineral Resource; approximately 50m down dip from where it has been historically mined within the Andrej Adit; and approximately 30m down dip from the current Sturec JORC (2012) Mineral Resource extents.
Assay results from UGA-04 are interpreted to show a continuous mineralised zone from 0m to 90m (EOH) using a 0.3g/t Au cut-off. A summary of the significant intersections from UGA-04 are shown in Table 2 below.
Hole Width Au Ag From To Cut-off (%)
(m) g/t g/t (m) (m)
(Do
wn
hole
depth
)
(Down (Down
hole hole
depth depth
) )
UGA-0490.00 (at) 3.88 13.9 0.00 90.00 0.3g/t Au cut-off
and max. 6m
internal
dilution
including
9.00 (at) 11.6662.3 14.00 23.00 2g/t Au cut-off
and 1m internal
dilution
and
6.00 (at) 33.7636.2 43.00 49.00 1g/t Au cut-off
and no internal
dilution
Table 2: Significant intersections in UGA - 04
Further Drilling Assay Results from UGA-03
Further assay results from samples taken higher in UGA-03 have also been received which have indicated that the mineralised zone is in fact 14m longer. Assay results from UGA-03 are now interpreted to show a continuous mineralised zone from 211m to 287.25m (EOH). Over this interval, the drill hole intersected 73m (at) 2.14g/t Au & 8.8g/t Ag from 211m using a 0.3g/t Au cut-off (downhole thickness); including 24m (at) 4.74g/t Au & 13.4g/t Ag from 252m using a 0.5g/t Au cut-off (downhole thickness) or 15m (at) 6.7g/t Au & 15.3g/t Au from 252m using a 2g/t Au cut-off (downhole thickness). A summary of the updated significant intersections from UGA-03 at different cut-off grades are shown in Table 3 below.
Hole Width Au Ag From To (m) Cut-off (%)
(m) g/t g/t (m)
(Down
hole (Down (Down
depth) hole hole
depth) depth)
UGA-0373.00 (at) 2.148.8 211.00 284.00 0.3g/t Au
cut-off
and max. 3m
internal
dilution
including a
1.39m
historic
mining
void
including
31.61 (at) 3.7611.0 248.00 279.61 0.5g/t Au
cut-off
and max. 2m
internal
dilution
including
24.00 (at) 4.7413.4 252.00 276.00 1g/t Au
cut-off
and max. 3m
internal
dilution
including
15.00 (at) 6.7015.3 252.00 267.00 2g/t Au
cut-off
and max. 3m
internal
dilution
including
7.00 (at) 11.624.7 260.00 267.00 5g/t Au
5 cut-off
and max. 1m
dilution
Table 3: Updated significant intersections in UGA - 03
Drilling Update: UGA-05
Drilling of UGA-05 was completed to a depth of 140.46m. UGA-05 intersected the interpreted mineralised zone along strike, approximately 30 metres to the south from UGA-04 along the hangingwall of the interpreted mineralised zone and approximately 55m along the footwall margin; approximately 130m along strike from the southern extent of the Sturec JORC (2012) Mineral Resource along the hangingwall and over 150m along the footwall of the interpreted mineralised zone; and approximately 50m down dip from where it has been historically mined within the Andrej Adit.
UGA-05 intersected quartz filled vein/stockwork/breccia structures, variably rich in fine to very fine grained sulphides (mainly pyrite/marcasite) and hosted within strongly argillic altered andesite host rock from approximately 0m to 102m down hole (*not true thickness). The drill core has been cut and sampled and sent to the laboratory with a rush request utilised in order to get assays as quickly as possible.
Drilling Update: UGA-06
Drilling of UGA-06 has recently been completed to a depth of 116.50m. Drill hole UGA-06 was planned to intersect the mineralised zone between UGA-03 and UGA-04 in order increase the potential resource tonnage between the two intersections where the Schramen Vein was intersected at the footwall.
UGA-06 intersected 68m of quartz filled vein/stockwork/breccia structures, variably rich in fine to very fine grained sulphides (mainly pyrite/marcasite) and hosted within strongly argillic altered andesite host rock from approximately 36.5m to 104.5m down hole (*not true thickness). The Company looks forward to providing an update on UGA-06 in the next few weeks as the core has been sampled and dispatched to the lab for rush assay.
Drilling Update: UGA-07
UGA-07 is already underway. UGA-07 is planned to intersect the interpreted mineralised zone down dip approximately 30 metres from UGA-06 along the hangingwall of the interpreted mineralised zone and approximately 60m along the footwall margin.
ENDS
For further information, contact:
Russell Moran----
Chairman-----
M +61 415 493 993----
russell(at)metalstech.net ---
Nathan Ryan
Investor Relations
M +61 420 582 887
nathan.ryan(at)nwrcommunications.com.au
Gino DAnna
Director
M +61 400 408 878
gino(at)metalstech.net
Sturec Gold Mine
Sturec Mineral Resource Estimate
Resource Estimate above 0.40 g/t Au cut-off and within an
optimised open pit shell
Resource TonnesDensitAu Ag AuEq1 Au (koAg (koAuEq1
Category (kt) y (g/t (g/t(g/t) z z
(t/m ) ) ) )
3)
(koz)
Measured 3,0002.17 1.69 13.5 1.79 161 1291 171
Indicated 11,202.24 1.79 14.9 1.90 643 5373 685
0
Measured 14,202.23 1.77 14.6 1.87 804 6664 856
+ 0
Indicated
Inferred 7,0002.33 0.97 5.6 1.01 222 1280 230
TOTAL 21,202.26 1.50 11.6 1.59 1026 7944 1086
0
Resource Estimate above 2.85 g/t Au cut-off: outside
optimised open pit
shell
Resource TonnesDensitAu Ag AuEq1 Au (koAg (koAuEq1
Category (kt) y (g/t (g/t(g/t) z z (
(t/m ) ) ) ) koz)
3)
Measured - - - - - - - -
Indicated 114 2.28 3.39 25.6 3.57 12 94 13
Measured 114 2.28 3.39 25.6 3.57 12 94 13
+
Indicated
Inferred 274 2.34 3.47 19.9 3.61 31 176 32
TOTAL 388 2.34 3.45 21.6 3.60 43 270 45
AuEq g/t = ((Au g/t grade*Met. Rec.*Au price/g) + (Ag g/t grade*Met. Rec.*Ag price/g)) / (Met. Rec.*Au price/g)
Long term Forecast Gold and Silver Price USD/oz (source: World Bank, JP Morgan): $1,500 and $20 respectively.
Gold And silver recovery from the 2014 Thiosulphate metallurgical test work: 90.5% and 48.9% respectively.
It is the Companys opinion that both gold and silver have a reasonable potential to be recovered and sold from the Sturec ore using Thiosulphate Leaching/Electrowinning as per the recoveries indicated.
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Datum: 16.11.2020 - 01:14 Uhr
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