MetalsTech receives greenlight for underground mining licence extension

MetalsTech (ASX:MTC) has been granted an underground mining licence extension for its wholly owned Sturec Gold Mine in Slovakia, which the company says represents a “significant” de-risking to the permitting pathway. 

The 10-year extension will help Sturec continue to advance as an underground-only mining operation. 

MetalsTech, which has a market capitalisation of $31.17 million, is continuing with its program of bulk-scale metallurgical and mineralogical testwork, while also undertaking its strategic process with advisors Minmetals Securities — as this news service previously reported

Minmetals is continuing to progress the strategic process with strong interest received from European and North American counterparties. Further site visits are being planned. 

MetalsTech says the process continues to benefit from a strong gold price, currently sitting at $3,593.37 per ounce, as reported by The Perth Mint. 

The Sturec mine has historically produced more than 1.5 million ounces of gold and 6.7 million ounces of silver worth more than US$2 billion at recent metal prices, as reported by MetalsTech. 

The mine is located in Slovakia’s Western Tethys Gold Belt, which hosts major mines and deposits owned by Canada’s Dundee Precious Metals and Eldorado Gold, as well as China’s Zijin Mining.

MetalsTech says the region is witnessing strong global interest.  

MetalsTech is a gold and lithium explorer focused on the Sturec Gold Mine in Slovakia and the Savoulle Lithium Project in Quebec, Canada. 

Write to Aaliyah Rogan at Mining.com.au   

Images: MetalsTech
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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.