Additional High Grade Lithium Intersected at Cancet Project

Hard-rock lithium explorer and developer MetalsTech Limited (ASX: MTC) (the “Company”) is pleased to announce laboratory assay results from the recent drilling campaign 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:

  • MTC17-044 – 00m @ 1.83% Li2O from 8.00m depth, including:

o  1m @ 6.18% Li2O (12.00m to 13.00m); and

o  2m @ 1.46% Li2O (8.00m to 10.00m)

  • MTC17-049 – 96m @ 1.43% Li2O from 1.54m depth, including:

o  7.96m @ 2.55% Li2O (1.54 to 8.50m)

  • MTC17-050 – 35m @ 1.79% Li2O from 18.29m depth, including:

o  2.18m @ 2.29% Li2O (19.4 m to 21.58m)

  • MTC17-053 – 59m @ 1.23% Li2O (11.34m to 14.93m)
  • Cancet continues to demonstrate near surface high grade mineralisation
  • Resource definition drilling planned at Cancet in mid-2018 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 drilling program
  • Maiden diamond drilling campaign to commence at the Adina Lithium Project in February 2018 designed to test 2km outcropping pegmatite, where surface outcrop has assayed up to 3.12% Li2O

Commenting on recent results, Executive Director Mr Gino D’Anna stated:

These assays support our understanding that Cancet has the potential to host a near surface and high- grade lithium deposit close to key infrastructure. Metallurgy testing performed on drill core indicate that Cancet material may be treated with a simple and low-cost conventional processing method. Over the past three months we have been successful in attracting investment from two strategic end-users which will enable the company to accelerate development at its portfolio of lithium projects.

The full announcement can be found by 01935376