Communicators

HIGHLIGHTS

-          Dr Quinton Hills appointed as Technical Advisor to plan and execute a maiden drilling program and management of the geological strategy at the Sturec Gold Project

-          Metallurgical test work program to commence using thiosulphate-based gold recovery technology in conjunction with CSIRO with Technical Director and specialist process metallurgist, Mr Noel O’Brien managing the program

-          Measured Group engaged to review the existing JORC (2004) Measured, Indicated and Inferred Resource Estimate and update the Mineral Resource Estimate in accordance with JORC (2012) guidelines

-          Mr Vassilios Carellas (geologist and former Sturec Chief Operating Officer) retained for an interim period to assist with ramp up of activities at Sturec

-          Mr Juraj Tozser appointed to manage permitting and licencing at Sturec

-          Sturec mine has historically produced over 1.5Moz of gold and 6.7Moz of silver

-          The Sturec project hosts an existing open cut JORC (2004) Measured and Indicated Resource of 1.01 million oz at 2.05g/t Au Eq (15.4Mt @ 2.05g/t Au Eq at a cut-off grade of 0.4g/t Au Eq) plus a JORC (2004) Inferred Resource of an additional 310,000 oz at 0.99g/t Au Eq (9.7Mt @ 0.99g/t Au Eq at a cut-off grade of 0.4g/t Au Eq). #The estimate of the Mineral Resource does not comply with JORC (2012) standard.

-          A JORC (2004) Proven and Probable Ore Reserve was estimated by SRK Consulting which estimated 873,000 oz at 1.90g/t Au Eq (calculated as 13.965Mt @ 1.90g/t Au Eq assuming gold price at 1,300 USD/oz) #The estimate of the Mineral Reserve does not comply with JORC (2012) standard.

-          MTC has 116.9 million fully paid ordinary shares on issue

MetalsTech Limited (ASX: MTC) (the Company or MTC) is pleased to announce that it has made a number of key appointments with respect to its technical, permitting, licencing and environmental capabilities to accelerate development at the Sturec Gold Project located in Slovakia (Sturec).

Appointment of Dr Quinton Hills – Technical Advisor

The Company has appointed Dr Quinton Hills as Technical Advisor to oversee and manage the geological function of the Company, including in-country assistance during exploration and development. Dr Hills undertook the technical due diligence on behalf of the Company, including a site visit and formal meetings with local government officials. He has inspected historical drill core, reviewed the metallurgical and mineralogical test work that was previously completed, reviewed the extensive geological database and inspected the underground adits that form part of the Kremnica Mine within the Sturec Project area.

Dr Hills is a qualified geologist and minerals industry executive with 15 years’ experience in project generation, exploration and project development across a broad range of base, precious and tech metals in Australia, Botswana, Sweden and Finland. He possesses significant technical and project management expertise having previously been the Exploration Manager and Interim CEO of Avalon Minerals Limited, the Exploration Manager of Meridian Minerals Limited and the Senior Geologist of Discovery Metals Limited. He has a PhD in Structural Geology with extensive experience in multiply deformed and highly metamorphosed terranes and is an expert in exploration concept/target generation.

Dr Hills was responsible for the discovery of ~100M tonnes of copper mineral resources at Boseto in north-western Botswana, during his tenure as Senior Geologist for Discovery Metals Limited.

Thiosulphate Testing with CSIRO

The Company will commence metallurgical test work using thiosulphate-based gold recovery technology in conjunction with the Commonwealth Scientific and Industrial Research Organisation (CSIRO). Ore and/or historical drill core will be taken from the Sturec project under the supervision of Technical Director and specialist process metallurgist, Mr Noel O’Brien.

Mr O’Brien is a metallurgist and was formerly Managing Director in South Africa for SNC-Lavalin Inc, a leading global engineering and construction group, and was responsible for delivering base metal smelter and refinery projects across Africa. He has a deep understanding of the gold market and possesses processing expertise in smelting, gravity separation, flotation, leaching and solvent extraction. He holds a Metallurgical Engineering degree (University of Melbourne) and an MBA (Witwatersrand) and is a Fellow of the AusIMM.

The use of traditional cyanide-based gold recovery is not permitted in Slovakia where Sturec is located and thiosulphate is an attractive alternative because it is non-flammable, water soluble and negates the need for cyanide or other toxic livixiants during the gold recovery process.

In 2014, the CSIRO successfully collaborated with Barrick Gold Corporation (Barrick) for the implementation of thiosulphate processing technology at the Goldstrike Mine in Nevada which now produces approximately 350,000 ounces of gold each year for Barrick and Newmont Goldcorp Corporation.

Source: http://www.metalstech.net/wp-content/uploads/2020/01/Barrick-Gold-Corporation-Technical-Report-on-the-Goldstrike-Mine-March-22-2019.pdf

Update of Mineral Resource Estimate

The Company has engaged Measured Group to undertake a review of the existing JORC (2004) Measured, Indicated and Inferred Resource Estimate that was completed by Snowden Mining Industry Consultants in April 2012.

A copy of the Mineral Resource Estimate completed by Snowden Mining Consultants can be found here: http://www.metalstech.net/wp-content/uploads/2019/11/120531_FINAL_2019_Ortac_Kremnica_ResEst.pdf

As part of this engagement, Measured Group will review all relevant geological, geotechnical and metallurgical data in order to update the Mineral Resource Estimate in line with the JORC (2012) guidelines.

A copy of the 2013 Pre-Feasibility Study by SRK Consulting can be found here: http://www.metalstech.net/wp-content/uploads/2019/11/UK4876_Kremnica_PFS-Study_Final-Report.pdf

Appointment of In-country Management

Mr Vassilios Carellas (former Chief Operating Officer for the Sturec Gold Project under Arc Minerals ltd) and Mr Juraj Toszer to assist it with in-country technical, licencing, permitting and environmental requirements relevant to advancing the Sturec Gold Project.

ENDS

For further information, contact:

Russell Moran

Chairman

M +61 415 493 993

russell@metalstech.net 

Nathan Ryan

Investor Relations

M +61 420 582 887

nathan.ryan@nwrcommunications.com.au

Gino D’Anna

Director

M +61 400 408 878

gino@metalstech.net