MetalsTech (ASX:MTC) - Founding Director, Gino D'Anna
Founding Director, Gino D'Anna
Source: MetalsTech
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • MetalsTech (MTC) has found multiple occurrences of visible gold in extensional diamond drilling at the Sturec Gold Mine in Slovakia
  • Assays are still awaited, but detailed logging of the core revealed three intervals containing visible gold between 40 and 100 metres downhole
  • The new hole was aimed at confirming the continuity of an extension to the known mineral resource envelope
  • A previous core in the same zone returned the exceptionally high-grade result of 90 metres at 3.88 grams per tonne (g/t) gold and 13.9g/t silver
  • The drilling is aimed at upgrading the Sturec resource, which already stands at over a million ounces of gold and almost eight million ounces of silver
  • MetalsTech is up 5.41 per cent to 19.5 cents

MetalsTech (MTC) has found multiple occurrences of visible gold in extensional diamond drilling at the Sturec Gold Mine in Slovakia.

Multiple occurrences

The underground drill hole is aimed at extending the known mineralised envelope outside the existing million-ounce resource.

Detailed geological logging and sampling of the drill core showed multiple occurrences of visible gold across three intervals between around 40 and 100 metres downhole.

The hole was targeted between two previous holes to confirm the continuity of mineralisation in an interpreted extension.

One of the previous holes returned an exceptionally high-grade interval of 90 metres at 3.88 grams per tonne (g/t) gold and 13.9g/t silver.

While the core is still awaiting assay, visual inspection shows a 68-metre zone of quartz-filled vein, stockwork and breccia.

While the observed geology can’t be assessed visually for gold mineralisation, it is consistent with potentially gold-hosting minerals.

The visible gold is variably detected in 0.5 to 1.0-millimetre disseminated blebs in various types of quartz.

While the company is quick to assert the presence of visible gold is not necessarily indicative of mineralisation throughout the samples, it does at least augur well for further gold potential.

Next steps

The core samples have been sent to the lab for ‘rush analysis’ to see if the visible gold is representative of further mineralisation.

In the meantime, a seventh underground hole is underway targeting the same interpreted mineralised zone, stepping out around 30 metres down-dip along the hangingwall.

The company is aiming to upgrade the already rich Sturec resource, which currently stands at over one million ounces of gold and almost eight million ounces of silver.

MetalsTech is up 5.41 per cent to 19.5 cents at 12:26pm AEDT.

MTC by the numbers
More From The Market Online

What can we expect from the North American mining sector in 2024?

You may be surprised to learn the USA's nonfuel mining industry contributed US$3.64 trillion towards the…

Shaping Australia’s tech-infused mining industry

According to the Minerals Council of Australia, the nation's mining sector has invested $30 billion in…