MetalsTech Limited (ASX:MTC) has reported a series of very high grade gold intersections from the second hole of phase 2 diamond drilling at its Sturec Project in Slovakia, including a record hit of 1m @ 594g/t Au + 100g/t Au from 81m down hole.
Additional grades from hole UGA-18 include 18m @ 34.07 g/t Au + 10.7 g/t Ag from 64m down hole, including 6m @ 101.15 g/t Au + 21.9 g/t Ag.
“Sturec is shaping up to be an extraordinary deposit with bonanza grade potential”
Addressing the results, MetalsTech Chairman Russell Moran said: “Sturec is shaping up to be an extraordinary deposit with bonanza grade potential. As we step out further away from where historic mining has occurred we are hopeful that we will continue to hit these incredible mineralised zones which can expand on and help grow what is already a very exciting and significant gold resource.”
Diamond hole UGA-18, targeting drill chamber 2 within the project’s Andrej Adit, was drilled to a depth of 104.65m with assay results displaying a ‘relatively continuous’ mineralised zone from 44m to 82m using a 0.26 g/t Au cut-off.
UGA-18 was designed as an infill hole, positioned above and at a high-angle to earlier hole UGA-14, and updip from where UGA-17 had previously intercepted the hangingwall and footwall of interpreted mineralisation as reported on 30 September 2021. MetalsTech reports that visible gold was encountered at 81.35m within a quartz vein, rich in fine to very-fine grained sulphides.
The 9km² Sturec Gold Project sits within MetalsTech’s 100%-owned Kremnica Mining Licence in Slovakia, which houses a JORC 2012 compliant mineral resource estimate of 21.2Mt @ 1.50 g/t Au and 11.6 g/t Ag, containing 1,026,000 ounces of gold and 7,940,000 ounces of silver on an open cut scenario, with a further underground potential.
The project is reported to have delivered historical production of over 1,500,000 ounces of gold and 6,700,000 ounces of silver, valued at more than USD $2 billion based on recent precious metal prices.
Images: MetalsTech Limited