MetalsTech hits more gold, silver at Slovakian Sturec project in late year diamond drill run

Thu 24 Nov 22, 11:05am (AEST)
Two gold nuggets (authenticity unknown) photographed in between three larger rocks against a dark background
Source: iStock

Key Points

  • MetalsTech has reported results from 3 more diamond drillholes at Sturec
  • Company believes today’s results may allow company to expand high-grade gold zone on-site, potentially uplifting JORC
  • Drills continue to intersect quartz veining, common attribute of successful gold mines

Metalstech (ASX:MTC) continues to report strong diamond drill rig gold drilling results from its Slovakia-based Sturec gold and silver project, where an August scoping study determined a resource over 1Moz. 

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: 

  • 37m @ 1.60g/t gold and 8.10g/t silver from 47m depth, including: 

    • 27m @ 2.00g/t gold and 9.90g/t silver from 56m, and

      • 06m @ 6.06g/t gold and 10.5g/t silver from 77m 

  • 36m @ 0.7g/t gold and 4.8g/t silver from 28m depth, including: 

    • 10m @ 1.78g/t gold and 5.90g/t silver from 54m depth, and 

      • 02m @ 4.08g/t gold and 4.6g/t silver from 62m depth 

  • 53m @ 0.74g/t gold and 3.00g/t silver from 14m depth, including: 

    • 03m @ 5.53g/t gold and 7.90g/t silver from 54m depth 

Potential resource upgrade

The first drillhole listed above, UGA-49, intersected higher-than-anticipated gold grades on the “lower margin of the current resource” and may result in an increase in the gold grades of this zone, as listed in the JORC. 

The company continues to intersect silver and gold through its operations at Sturec, demonstrating the exploration team’s acument in picking drill targets, as well as shoring up investor (and company) confidence in the potential commercial value of the project down the line. 

Comparison with previous results 

Today’s diamond drill rig data differs from the first batch of November assays announced earlier this month from the first leg of diamond drilling. 

Results from that release read as follows: 

  • 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 

While piecemeal evidence cannot be applied to the entire project area as a generalisation, there is an increasing amount of evidence MetalsTech continues to hit higher-grade mineralisation at depths exceeding 50m. 

Quartz veining has been consistently identified at Sturec, a type of geological formation which often hosts gold and sulphides. 

A look at Metalstech's one year charts
A look at Metalstech's one year 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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