- MetalsTech (MTC) has returned early results from its maiden drill program at the Sturec Gold Mine in Slovakia
- The program’s first hole reached a depth of 195 metres and is expected to soon intersect the targeted mineralisation at approximately 210 metres down
- So far, the drill program has intersected a series of geological features consistent with a historical drill result recorded 80 metres away from the current hole
- The previous assay contained an internal intercept at 6.9 grams per tonne of gold and 23.6 grams per tonne of silver across 89 metres
- MetalsTech shares are steady today, priced at 23 cents
MetalsTech (MTC) has returned early results from its maiden drill program at the Sturec Gold Mine in Slovakia.
The program’s first hole has reached a depth of 195 metres and is expected to soon intersect the target mineralisation at approximately 210 metres down.
As a result, drilling so far has revealed the geological structures surrounding the targeted zone, intersecting weak quartz veins at 119 metres downhole and a three-metre prospective zone at around 180 metres depth. The latter zone contained more intense quartz mineralisation, rich in pyrite.
The program is hoping to meet up with previously intersected mineralisation from a historical assay result drilled 80 metres away from the current hole.
The previous program hit 4.6 grams per tonne of gold and 16.5 grams per tonne of silver across 137.3 metres. Within this assay was a higher-grade intercept at 6.9 grams per tonne of gold and 23.6 grams per tonne of silver across 89 metres.
The weak quartz veins intersected in the new hole began around the same depth as in the prospective historic drill hole. Consequently, the company hopes this indicates further similarities further down and is eagerly awaiting upcoming assays at the program drills deeper.
MetalsTech Chairman Russel Moran commented on the program’s progress thus far.
“The first part of this drill hole has provided valuable information about how we position future drill holes to continue to target the plunging high-grade zone,” Russel explained.
“Drilling into the lower portion of the existing resource in the last half of this hole will also provide the potential for an improvement in the number of ounces in the existing resource envelope if we are able to successfully intersect high-grade mineralisation at depth,” he continued.
MetalsTech shares are steady today, priced at 23 cents at 10:36 am AEST.