MetalsTech Limited: Progressing Operations at Sturec Gold Mine
MTC (MTC) Share Update December 2024 Tuesday 17th
MetalsTech Advances Sturec Gold Mine Operations
MetalsTech Limited (ASX: MTC) has announced significant progress in its operations at the Sturec Gold Mine in Slovakia, including the submission of a blasting permit and the commencement of mining activities.
Instant Summary:
- Blasting permit application submitted for Sturec Gold Mine.
- Mining activities officially started on December 1, 2024.
- Completed maintenance on mining museum infrastructure.
- Identified potential Antimony mineralisation at the site.
Operational Developments
MetalsTech Limited has taken substantial steps forward at its flagship Sturec Gold Project. The company recently submitted a blasting permit application to the Mining Office, a crucial step for resuming small-scale mining operations at the Andrej Adit.
Mining activities officially began on December 1, 2024, marking a pivotal moment in the company's efforts to de-risk the project and maintain the validity of its mining license. This development follows a successful annual mine inspection, which confirmed high compliance standards.
Community Engagement and Infrastructure
In addition to operational advancements, MetalsTech has completed essential maintenance work on the mining museum, including repairs to the engine room roof and painting of the bridge. These efforts underscore the company's commitment to preserving the historical significance of the site while aligning with community interests.
Antimony Mineralisation Potential
The company has also identified potential Antimony mineralisation within the footwall of the Schramen vein at the main Sturec Deposit. Historical exploration reports suggest the presence of antimonite veins, which were historically overlooked due to their low value. However, MetalsTech is now evaluating these findings to better understand the distribution of Antimony at the site.
The company plans to continue assessing historical drill cores and assay results to gain further insights into the Antimony mineralisation, potentially unlocking additional value at the Sturec Gold Mine.
The submission of the blasting permit and the commencement of mining activities are significant milestones for MetalsTech, potentially enhancing investor confidence and positively impacting the company's stock. The identification of Antimony mineralisation could also present new opportunities for resource development and diversification.
Investor Reaction:
Analysts are likely to view these developments as positive steps toward de-risking the Sturec project. The community engagement and infrastructure improvements may also bolster investor sentiment by demonstrating MetalsTech's commitment to sustainable and responsible mining practices.
Conclusion:
MetalsTech's latest advancements at the Sturec Gold Mine represent promising progress for the company and its stakeholders. Investors should monitor ongoing developments, particularly the outcomes of the blasting permit application and further exploration of Antimony mineralisation.