EXPLORATION & DEVELOPMENT

Strong market reaction to Sturec's high-grade gold hit

New resource for Slovakia-located project next month as mine studies move into the frame

Staff Reporter
 Sturec, Slovakia

Sturec, Slovakia

The company reported 70m grading 9.2 grams per tonne gold, including 1m at 584gpt from 41m downhole.

The company doesn't yet know the ‘true width' of the mineralisation.

As well as a new resource estimate, MetalsTech is set to undertake scoping work, while a second drill chamber site is currently being completed ahead of further drilling later this month.

Sturec is described as a low sulphidation epithermal system containing a current resource of 21.2 million tonnes grading 1.5gpt gold.

MetalsTech divested lithium assets in Canada last month so as to focus on Sturec.

While it started the current quarter with less than $1 million in the bank, part consideration for its lithium divestment was a $6 million cash payment.

Shares in MetalsTech were up 37% to 26c in afternoon trade, capitalising the company at $40 million.

The stock was at levels around 12c early last month.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

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