Materials

MetalsTech hits high-grade gold in latest assay results from August drill run; Q4 drilling ongoing

Tue 08 Nov 22, 11:27am (AEST)
Close-up detail of gold mineralisation in pyrate type rocks at an unknown location
Source: iStock

Key Points

  • MetalsTech has today reported an assay sample for its gold-silver Sturec project clocking in a hit of gold over bonanza grade
  • The high grade interval at 125m depth is expected to boost the project’s mineral resource
  • More assays to come from August drill run

MetalsTech (ASX:MTC) is today reporting assay results from its August drill run at the company’s 100% owned, 1Moz-boasting Sturec silver-gold project in Slovakia. 

Investor information provider Undervalued Equity classifies high grade gold as that in concentrations over five grams per tonne of ore (5g/t); while silver is classified as high grade at 50g/t. 

Compare that to today’s results: 

  • 05m @ 9.49g/t gold from 126m depth (15g/t silver), including: 

    • 01m @ 43.6g/t gold from 126m 

  • 04m @ 9.21g/t gold from 58m depth (30.8g/t silver) 

  • 03m @ 5.21g/t gold from 85m depth 

Worth noting is that these results largely came as high-grade pockets within larger and more broadly accumulated mineralised core samples. 

More August assays coming

Currently, the assay results for the last hole completed in August (named the Drill Chamber III drilling campaign) are being prepared; the company will turn over data for UGA-56 in the near future. 

The three drillholes for which results are reported today all intersected quartz veining underground, one of the most common in-situ hosts for gold to occur. 

A contemporary drilling program is now underway at Sturec with operations kicked off this week. 

MetalsTech's three month charts
MetalsTech's three month charts
Disclaimer: Market Index helps small-cap ASX listed companies connect with Australian investors through clear and concise articles on key developments. MetalsTech was a client at the time of publishing. All coverage contains factual information only and should not be interpreted as an opinion or financial advice.

 

Written By

Jonathon Davidson

Finance Writer

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication.

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