Gold

MetalsTech drill holes deliver visible gold: exploration targets and assays results on the horizon

Mon 28 Mar 22, 11:41am (AEST)
A representation of gold mineralisation in-situ
Source: iStock

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Key Points

  • MetalsTech identifies visible gold from recent drill holes
  • The company expects assay results to be released shortly
  • An exploration target for the broader Sturec project expected within days

MetalsTech (ASX: MTC) has identified visible gold from drill holes completed at the Sturec Underground Gold Mine in Slovakia. The company’s stock is up 7.7% in early-trade. 

The drill holes were designed to verify the southern extent of Sturec’s mineral resource estimate. The infill drill hole intersected thick mineralised zones of 59m at 2.3 g/t gold.

MetalsTech drill hole
Source: MetalsTech

Generally speaking, gold grades between 1.5 to 5 g/t is considered medium grade, according to Undervalued Equity. 

Upcoming catalysts 

Assay results from the recent drill holes are expected to be "released shortly". This will provide a concrete interpretation for the drill holes as opposed to today's initial observations on visible gold sections.

MetalsTech believes that areas outside Sturec’s existing resource area is highly prospective for gold. The company expects to produce an exploration target for the broader Sturec area “within days”.

Finally, the company reaffirmed that a scoping study is on track for early Q2 2022. This will be the first study to investigate the economics of mining the Sturec Project from predominately underground methods.

MetalsTech price chart
MetalsTech 12-month price chart

 

Written By

Kerry Sun

Finance Writer & Social Media

Kerry holds a Bachelor of Commerce from Monash University. He is an avid swing trader, focused on technical set ups and breakouts. Outside of writing and trading, Kerry is a big UFC fan, loves poker and training Muay Thai. Connect via LinkedIn or email.

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