MetalsTech Limited’s (ASX:MTC) share price has climbed 4.4% to 35.5c in morning trade as strong gold results at its Sturec project continue to flow.
A 173m long diamond drill core completed on-site has a total density of 3.27g/t with mineralisation visible along two sections.
Investor information service Undervalued Equity notes gold grades between 2g/t and 5g/t are considered mid-range.
Simply put, investors could think of Sturec’s latest news as reflecting middle-upper grade gold.
But more important than quality in this case could be quantity, given that mineralisation is consistent for nearly two hundred metres.
Another interesting note: mineralisation starts from 0m at surface, meaning feasible economics of an open pit play at Sturec could be on the cards.
The Sturec gold mine is 100% owned by MetalsTech and located in Slovakia’s Western Tethys belt.
The mine has been responsible for 1.5m ounces of historical gold production and retains an existing mineral estimate of a further 1.5Moz.
It is also estimated to boast 11Moz of silver; with gold concentrate made at a secondary site 30km away and accessible by truck.
MetalsTech’s share price is at 35.5c as of late morning Monday.
Currently, its one year return sits at 95%.
Year-to-date performance is up 22% with the last week alone seeing a return of 7.58%.
Compared to the materials sector on a one year basis, MetalsTech is outperforming; up at 115%.
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