MetalsTech limited (ASX: MTC) announced that the diamond drilling program at its 100% owned Sturec gold project in Slovakia has identified visible gold in UGA-10 drill core.
The company said that the laboratory analysis of samples from UGA-10 will be “rush processed”. MTC announced that the drilling at UGA-11 is currently underway and assay results for UGA-07, UGA-08, and UGA-09 are expected to be received shortly.
Drilling at Sturec project
The company had recently commenced a drilling campaign at the Sturec gold project to extend the current mineralisation down dip towards the south west and along plunge in order to define substantial high-grade underground minable resources.
Visible gold from UGA-10 drill core
MTC reported that during detailed geological logging and sampling, visible gold was identified in UGA-10 drill core at 135.00m to 135.10 downhole within a broader zone of quartz filled vein / stockwork / breccia and hosted within strongly argillic altered andesite host rock from approximately 108 to 161m down hole.
UGA-10 is positioned along plunge/strike to the south of UGA-05, which had intersected 32m @ 4.62 g/t Au and 17.5 g/t Ag from 70m.
Lab analysis to be rushed
The company reported that the laboratory analysis of samples from UGA-10 will be “rush processed” and would be reported as soon as they are available.
Drilling underway at UGA-11
MTC said that the drilling at UGA-11 is currently underway and is planned as a down dip step out of approximately 30 metres from UGA-04 along the hangingwall of the interpreted mineralised zone and approximately 80m along the footwall margin.
Drill hole UGAA-04 had intersected 90m @ 3.88 g/t Au and 13.9 g/t Ag in November 2020.
The company said that the assay results for UGA-07, UGA-08, and UGA-09 are expected to be received shortly.
MTC said that there is good potential for the delineation of further gold mineralisation within the Sturec Gold Project area through future exploration. The company said that the prospects such as Wolf, Vratislav, Vollie Henne, and South Ridge are interpreted to be extension areas to the Mineral Resource area at Sturec.
MTC said that significant gold-silver bearing quartz vein mineralisation has been identified and variably explored/mined at each of these prospects.
The company said that the most exciting and potentially valuable exploration potential appears to be down plunge. MTC said that when the Mineral Resource model was investigated, it was apparent that the ore body has a high-grade core that appeared to be plunging towards the south.
Metals Tech said that the current exploration drilling was designed to confirm whether or not this high grade mineralisation continues down plunge to the south.