Additional High-Grade Lithium Intersected at Cancet, with 3.23% Li2O over 11.46 metres

Cobalt and lithium explorer MetalsTech Limited (ASX: MTC) (the “Company”) is pleased to announce the remaining drill results from the winter program recently completed at the Company’s 100%-owned Cancet Lithium Project (the “Project” or “Property”), located in the James Bay Region of Quebec, Canada.

Highlights include:

  • MTC17-021 – 21.46 m @ 2.24% Li2O and 310 ppm Ta2O5 from 5 m depth, including:
    11.46 m @ 3.23% Li2O (15.00 m to 26.46 m); or
    ▪ 3.01 m @ 4.82% Li2O (16.99 m to 20.00 m); and
    ▪ a sample high of 6.61% Li2O at 18 m depth
  • MTC17-022 – 17.00 m @ 2.06% Li2O and 327 ppm Ta2O5 from 6 m depth, including:
    8.15 m @ 3.44% Li2O and 558 ppm Ta2O5 (6.00 to 14.15 m); or
    ▪ 4.00 m @ 4.72% Li2O (9.02 m to 13.02 m); and
    ▪ a sample high of 5.55% Li2O at 10 m depth
  • MTC17-013 – 15.88 m @ 1.82% Li2O and 171 ppm Ta2O5 from 18.12 m depth, including:
    ▪ 5.00 m @ 2.88% Li2O and 126 ppm Ta2O5 (25.00 m to 30.00 m); and
    ▪ a sample high of 4.61% Li2O at 25 m depth
  • MTC17-020 – 6.25 m @ 3.58% Li2O and 332 ppm Ta2O5
  • MTC17-025 – 11.02 m @ 2.93% Li2O and 317 ppm Ta2O5
  • MTC17-014 – 10.00 m @ 2.67% Li2O and 333 ppm Ta2O5 from 21 m depth, including a sample high of 5.92% Li2O at 27 m depth
  • MTC17-040 – 5.00 m @ 2.56% Li2O and 92 ppm Ta2O5

The mineralised pegmatite body is open in all directions with a total defined strike length of the host pegmatite body of ~1.2 km. In addition to the encouraging lithium grades intersected near surface, significant tantalum mineralisation continued to be intersected. Drill hole MTC17-010 returned 444 ppm Ta2O5 over 34 m including a peak sample assay of 970 ppm Ta2O5. The zonation of the lithium and tantalum within the mineralised body at Cancet is not yet well-understood, with geological modelling ongoing to further define the relationship.

A LIDAR and orthophoto survey has recently been completed over the Property with processing and final deliverables expected in early July. The survey will provide high-accuracy topographic control to assist with geologic and resource modelling, as well as support regional prospecting work and the Phase II drill program planned for next quarter.

Commenting on recent results, Executive Chairman Mr Russell Moran stated:

“These assays support our thesis that Cancet has the potential to host a high-grade lithium deposit very close to surface. We are eagerly awaiting the results from the metallurgy and mineralogy testing on select drill core which we hope will indicate a simple and low-cost conventional processing opportunity, and support ongoing offtake and strategic partner discussions. Cancet is located only a few kilometres from low-cost hydro-power and an existing regional all-weather road, thus, if sufficient resources are defined, we will be well positioned with a highly attractive asset to further develop”

The full announcement can be found by CLICKING HERE