Quarterly Activities Report - 31 December 2017

December 2017 Quarterly Activities Report

MetalsTech Limited (MTC or the Company) is pleased to report its exploration for the quarter ended 31 December 2017. During the quarter, the Company completed a diamond drilling campaign at the 100%-owned Cancet Lithium Project in Quebec, Canada. Planning for the maiden drilling campaign at the 100%-owned Adina Lithium Project was also finalised during the quarter with a 2,000-metre drilling campaign to commence within the next three weeks. The Company also completed a detailed geological review covering each of the lithium assets in Quebec, Canada, with a view to advancing their exploration and development over the coming quarter. A particular focus will be given to the Terre des Montagnes, Kapiwak and Wells-Lacourciere Lithium Projects.
The spin out of the 100%-owned Bay Lake High-Grade Cobalt Project in Ontario, Canada, through iCobalt Limited is advancing following the appointment of Mr David Riekie as the Managing Director and Alto Capital as the Lead Manager to the IPO. iCobalt will be exploring and developing the Bay Lake Cobalt Project as well as (subject to completion of the proposed transaction) the Rusty Lake Cobalt-Nickel-Silver Mine in Ontario, Canada. iCobalt plans to list on the ASX during Q2 of 2018.

HIGHLIGHTS

Cancet Lithium Project
• Exploration Target at the Cancet Lithium Project estimated in the range of 15Mt to 25Mt @ 1.0% to 2.0% Li2O and 100ppm to 250 ppm Ta2O5 (refer to ASX announcement dated 9 November 2017
• Results from Phase II drilling at Cancet included (refer to ASX announcement dated 19 December 2017):

  • MTC17-044 – 5.00m @ 1.83% Li2O from 8.00m depth, including:
    ▪ 1m @ 6.18% Li2O (12.00m to 13.00m); and
    ▪ 2m @ 1.46% Li2O (8.00m to 10.00m)
  • MTC17-049 – 14.96m @ 1.43% Li2O from 1.54m depth, including:
    ▪ 7.96m @ 2.55% Li2O (1.54 to 8.50m)
  • MTC17-050 – 4.35m @ 1.79% Li2O from 18.29m depth, including:
    ▪ 2.18m @ 2.29% Li2O (19.4 m to 21.58m)

• Resource definition drilling to continue at Cancet in mid-2018, after a comprehensive field mapping program. Further drilling designed to extend the strike of the mineralised pegmatite zone as well as further define the mineralisation at depth and drill test additional targets identified through the magnetic survey
• Field mapping, sampling, stripping and trenching of secondary targets, including targets at the newly acquired Cancet East project will also be completed concurrent to the resource definition

Click here to view the full quarterly activities report


MTC Consolidates Wells-Lacourciere Lithium Project Ownership

MetalsTech Completes Consolidation of the Wells-Lacourciere Lithium Project

MetalsTech Limited (MTC or the Company) is pleased to announce that the Company has completed the consolidation of the 100%-owned Wells-Lacourciere Lithium Project, located in Quebec, Canada.

Highlights

  • Consolidation of the Wells-Lacourciere Lithium Project, located approximately 60km west of Val-d’Or in Quebec, Canada
  • Wells-Lacourciere includes 155 mining claims covering an area of 9,150 hectares and is located close to existing mine-related infrastructure including the recently restarted Quebec Lithium Mine
  • Geological work completed by MTC in 2016 identified several pegmatite outcrops with significant spodumene mineralisation, and returned assays as high as 7.34% Li2O (calculated) (in spodumene samples) and 2.67% Li2O (in bulk samples) (Refer to Prospectus dated 7 December 2016)
  • Exploration at Wells-Lacourciere in 2018 will first focus on the current pegmatite outcrop which has been mapped over a strike in excess of 600m as well as geological sampling at new pegmatite discoveries

Commenting on the consolidation at Wells-Lacourciere, Executive Director, Mr Gino D’Anna stated:
“We are pleased to have completed our consolidation of the Wells-Lacourciere project. The recently acquired claims are strategically positioned at the site of a historically explored mineralised zone where grades of up to 7.34% Li2O in surface samples and 2.67% Li2O in bulk samples were reported. Once completion of the recently announced strategic funding deals with Wuxi Baichuan and Dynavolt have occurred, we will look to commence significant exploration programs at Wells-Lacourciere in addition to our planned programs at the Cancet and Adina lithium projects.”

The full ASX announcement can be viewed by CLICKING HERE


Completion of MERN Transfers and Strategic Chinese Investment Update

MetalsTech Limited (MTC or the Company) is pleased to announce that the Quebec Government and the Minister of Energy and Natural Resources Quebec (MERNQ) have formally completed and registered the transfer of the mining claims into MTC subsidiaries. The finalisation of this process allows for the completion of the $4.8m funding deals with chemical producer Wuxi Baichuan Chemical Industry Co Ltd (BCC) and battery manufacturer Dynavolt Renewable Energy Technology Co Ltd (Dynavolt).

Highlights

Mining Claims Transfers

• Quebec Government and the MERNQ have formally completed and registered the transfers of the mining claims into MTC subsidiaries pursuant to various acquisition agreements and direct claim staking

• The completion of this key milestone paves the way for strategic investments from BCC and Dynavolt

Dynavolt Strategic Investment

• Dynavolt is one of the largest battery manufacturers globally and a market leader in EV car and motorcycle batteries with a market capitalisation of more than 10 billion CNY

• Dynavolt to subscribe for 10,000,000 MTC shares at a price of $0.30 per share to raise
$3,000,000 with 6 months’ escrow, subject to regulatory approval, for which the Company will be
seeking shareholder approval

• MTC to facilitate Dynavolt share accumulation strategy by introducing third party shareholders (and advisors) for the acquisition of up to a further 5,000,000 MTC shares through on-market purchases

• If Dynavolt increases its share ownership to >12.5% Dynavolt will earn:

o a right to participate in placements for 12 months to maintain ownership position
o a right to match any project-level investment by a third party within 12 months up to 10% project-level interest

• If Dynavolt increases its share ownership to >15% Dynavolt will earn a Board seat

The full announcement can be found by CLICKING HERE


Cleansing Statement

The full announcement can be found by CLICKING HERE


Appendix 3B

The full ASX announcement can be viewed by 01942627 (1)


MetalsTech Cleansing Statement

The full ASX announcement can be view by CLICKING HERE


Appendix 3B

The full ASX announcement can be viewed by CLICKING HERE


MERN Transfers and Strategic Chinese Investment Update

MetalsTech Limited (MTC or the Company) provides the following update in respect of the MERN Transfers and the recently announced $4.8m funding deals with leading chemical producer Wuxi Baichuan Chemical Industry Co Ltd (BCC) and leading battery manufacturer Dynavolt Renewable Energy Technology Co Ltd (Dynavolt).

Highlights

• Quebec Government has advised that the MetalsTech MERN Transfers, mining claims that are in the process of being transferred into MTC subsidiaries pursuant to various acquisition agreements and direct claim staking, have been processed, however due to the Christmas holiday period, the transfers will now be formally registered on or before 19 January 2018

• MTC has agreed extensions for both BCC and Dynavolt to enable the MERN Transfers to complete prior to each of BCC and Dynavolt completing their strategic investment in MTC

• Terms of BCC’s proposed $1.8m investment (refer ASX Release dated 15 December 2017) provide for completion within 20 business days from completion of the MERN Transfers, therefore completion is expected on or before 19 February 2018

• Terms of Dynavolt proposed $3m investment (refer ASX Release dated 6 December 2017) varied to allow completion to occur on or before 31 January 2018

• MTC fully funded to complete maiden drill program at the Adina Lithium Project, with preparations currently underway and first drilling scheduled to commence in February

The full ASX announcement can be found by CLICKING HERE