MetalsTech (ASX:MTC) strikes “bonanza” gold intersection at Sturec

• MetalsTech (MTC) strikes a “bonanza” gold intersection at its Sturec Gold Mine in Slovakia
• The company undertook diamond drilling at the project with the aim of increasing the confidence of the southern extent of the existing Sturec mineral resource
• Drilling intersected a thick, continuous mineralised zone, returning results including 173.2 metres at 3.27 grams of gold per tonne
• MetalsTech says the assays demonstrate the mineralisation extends further to the south along strike of the existing resource, remaining open down plunge
• MetalsTech shares are up 16 per cent, trading at 29 cents

MetalsTech (MTC) shares have soared after reporting a “bonanza” gold intersection at its Sturec Gold Mine in Slovakia.

The company completed 12 holes from Drill Chamber II as part of its phase two diamond drilling program. Eight diamond drill holes were also completed at Drill Chamber III, with a ninth underway.

Drilling intersected a thick, continuous mineralised zone of 173.2 metres at 3.27 grams of gold per tonne (g/t) and 11.8 g/t from 8 metres.

This included 103 metres at 5.06 g/t gold and 13.4 g/t silver from 57 metres.

The program was designed to extend the mineralisation to the south, along strike of the southern margin of the existing Sturec Mineral Resources. Additionally, it hoped to increase the confidence of the southern extent of the existing Sturec mineral resource.

“The ore body at Sturec continues to deliver impressive zones of gold mineralisation,” MetalsTech Director, Gino D’Anna said.

“Our drilling has grown the confidence of the existing Sturec Mineral resource and demonstrated that the mineralisation extends further to the south along strike of the existing resource and remains open down dip/plunge.”

MetalsTech shares climbed 16 per cent, trading at 29 cents at 3:52 pm AEST.