MetalsTech (ASX:MTC) progresses drilling and finalises scoping study for Sturec – The Market Herald
- MetalsTech (MTC) progresses drilling and is finalising its scoping study for its Sturec gold mine in Slovakia
- The company is currently working on diamond core drilling to expand the mineral resource at depth
- Construction is in progress for the fourth drill chamber, with drilling expected to commence in late June
- The scoping study is being finalised and is expected to be complete mid-June
- Shares in the company are trading at 36 cents at 11:35 am AEST
MetalsTech (MTC) has progressed drilling and is finalising its scoping study for its Sturec gold mine in Slovakia.
The company is currently working on diamond core drilling to expand the mineral resource at depth.
Construction is in progress for the fourth drill chamber, with drilling expected to commence in late June.
The scoping study is currently being finalised, with completion expected mid-June.
It is estimating a total life of mine production of one million ounces of gold equivalent, over a 15-year mine life across measured, indicated, and inferred JORC categories. This is modelled on a 1.5 million tonne per annum processing capacity.
The mine design and infrastructure has been developed to minimise the environmental impact on nearby towns.
Based on recent metallurgical test work, recoveries were estimated at 91 per cent for gold and 88 per cent for silver.
Director Gino D’Anna said there has been strong interest from institutional investors.
“Our resource extension drilling is going very well and the pending delivery of high value and low impact scoping study on a gold and silver concentrate operation will kick start the next development phase for our company,” he said.
“Our efforts have recently garnered the interest of global miners in Western Tethys where Sturec is located, including out of China.”
Shares in the company last traded at 36 cents each at 11:35 am AEST.