MetalsTech Limited: Multiple Zones of Visible Gold Identified in UGA-14 Drill Core
(firmenpresse) - Highlights
- Multiple zones of visible gold identified in UGA-14 drill core at:
- 74.0m downhole
- And at 103.25m, 103.4m, 103.9m, 104.1m m downhole
- UGA-14 represents an along strike step out of ~70m along the footwall of the interpreted mineralised zone from UGA-05, which interesected 32m (at) 4.62 g/t Au and 17.5 g/t Ag from 70m and ~20m along the hangingwall
- Assay results for UGA-07, UGA-09, UGA-10 and UGA-12 are due to be received any day now
- Assay results for UGA-8, UGA-11 and UGA-13 are subject to expanded sampling analysis due to identification of further mineralisation with assay results expected to be received shortly
- Sampling from UGA-14 complete and at the laboratory for assay
- UGA-15 is currently underway and is planned as an infill drill hole situated between UGA-03, which intersected 59m (at) 2.3 g/t Au & 9.4 g/t Ag from 225m and UGA-06, which interesected 70m (at) 3.43 g/t Au and 14.7 g/t Ag from 33m
- A further hole (UGA-16) has been planned following which the Company will shift the drill rig further along strike to a second drill pad to continue resource extensional drilling
- Planning and engineering in final stages to enable the Company to construct additional exploration roadways, including an extension to the main Adrej Adit and an additional exploration roadway to the east to enable multiple drill rig access
MetalsTech Limited (ASX: MTC | FRA:MT1) (MTC or the Company) 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). During detailed geological logging and sampling, multiple zones of visible gold has been identified at 74m and 104m within quartz filled vein / stockwork / breccia, variably rich in fine to very fine grained sulphides (mainly pyrite/marcasite) and hosted within strongly argillic altered andesite host rock from approximately 50m to 133m down hole (*not true thickness) in the drill core from hole UGA-14.
The visible gold at 74.0m is present as less than 0.1mm sized, disseminated blebs within a glassy, creamy white to grey quartz vein between 73.95m to 74.1m and is visually estimated to be at trace levels.
The visible gold at 103.25m, 103.4m, 103.9m, 104.1m is present as less than 0.3mm sized, disseminated blebs within drusy, fine grained, white to grey chalcedonic quartz filled hydrothermal breccia between 103.2-105.1m and is visually estimated to be at trace levels.
UGA-14
Drilling of UGA-14 has recently been completed to a depth of 165.5m. Drill hole UGA-14 was planned to intersect the mineralised zone along plunge/strike to the south of UGA-05. In detail, UGA-14 was planned to extent the interpreted mineralised zone approximately 20 metres along strike to the south from UGA-05 along the hangingwall of the interpreted mineralised zone; and approximately 70 metres along strike to the south from UGA-05 on the footwall of the interpreted mineralised zone. UGA-05 interesected 32m (at) 4.62 g/t Au and 17.5 g/t Ag from 70m (0.3g/t Au cut-off, downhole thickness).
UGA-14 intersected approximately a zone of 83m (*not true thickness) containing various quantities of quartz filled vein / stockwork / breccia, variably rich in fine to very fine grained sulphides (mainly pyrite/marcasite) and hosted within strongly argillic altered andesite host rock from approximately 50 to 133m down hole. The Company looks forward to providing an update on UGA-14 in the next few weeks as the core has already been sampled and dispatched to the lab.
UGA-15
UGA-15 is currently underway and is planned as an infill drill hole situated between UGA-03, which intersected 59m (at) 2.3 g/t Au & 9.4 g/t Ag from 225m; and UGA-06, which interesected 70m (at) 3.43 g/t Au and 14.7 g/t Ag from 33m.
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
Caution Regarding Forward-Looking Information
This document contains forward-looking statements concerning MetalsTech. Forward-looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward-looking statements as a result of a variety of risks, uncertainties and other factors. Forward-looking statements are inherently subject to business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Companys actual results to differ materially from those expressed or implied in any forward-looking information provided by the Company, or on behalf of, the Company. Such factors include, among other things, risks relating to additional funding requirements, metal prices, exploration, development and operating risks, competition, production risks, regulatory restrictions, including environmental regulation and liability and potential title disputes.
Forward looking statements in this document are based on the companys beliefs, opinions and estimates of MetalsTech as of the dates the forward-looking statements are made, and no obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments.
Competent Persons Statement
The information in this announcement that relates to Exploration Results is based on information compiled by Dr Quinton Hills Ph.D., M.Sc., B.Sc. Dr Hills is the technical advisor of MetalsTech Limited and is a member of the Australasian Institute of Mining and Metallurgy (No. 991225). Dr Hills has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr Hills consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.
The information in the report to which this statement is attached that relates to Mineral Resources for the Sturec Gold Deposit is based on information compiled by Mr Chris Grove, who is a Member of The Australasian Institute of Mining and Metallurgy (No. 310106). Mr Grove is a full-time employee of Measured Group Pty Ltd and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Grove consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Background: Sturec Gold Mine
The Sturec Gold Mine is located in central Slovakia between the town of Kremnica and the village of Luky, 17km west of central Slovakia''s largest city, Banská Bystrica, and 150km northeast of the capital, Bratislava.
Sturec is a low sulphidation epithermal system and contains a total Mineral Resource of 21.2Mt (at) 1.50 g/t Au and 11.6 g/t Ag (1.59g/t AuEq) using a 0.4g/t Au cut-off and within an optimised open pit, containing 1,026,000 ounces of gold and 7,944,000 ounces of silver (1,086,000 ounces of gold equivalent) in accordance with JORC (2012). An additional 388,000 tonnes at 3.45 g/t Au and 21.6 g/t Ag (3.60g/t AuEq) outside the optimised open pit contains an additional 43,000 ounces of gold and 270,000 ounces of silver (45,000 ounces of gold equivalent), reported in accordance with JORC (2012).
Mineral Resource Estimate - 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
1 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.
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
" alt="Re-distribution: Core One Labs Files Application to List its Common Shares on NASDAQ">
" alt="Asante Gold Announces CAD$5.0 Million Placement Oversubscribed Additional CAD$2.0 Million Accepted">
Datum: 22.03.2021 - 11:06 Uhr
Sprache: Deutsch
News-ID 1565865
Anzahl Zeichen: 10302
contact information:
Contact person:
Town:
Wien
Phone:
Kategorie:
Business News
Typ of Press Release:
type of sending:
Date of sending:
Anmerkungen:
Diese Pressemitteilung wurde bisher 222 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"MetalsTech Limited: Multiple Zones of Visible Gold Identified in UGA-14 Drill Core
"
steht unter der journalistisch-redaktionellen Verantwortung von
MetalsTech Limited (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
