MetalsTech Completes Field Program at Cancet Lithium Project

Lithium and cobalt developer MetalsTech Limited (ASX: MTC) is pleased to announce it has completed a field exploration campaign at the Company’s flagship 100% owned Cancet Lithium Project located in the James Bay Region of Quebec, Canada.

Highlights

  • Regional prospecting has uncovered a large pegmatite outcrop approximately 1 km east and along strike of the currently mapped and drilled mineralised pegmatite body
  • Approximately 60 km of ground magnetic surveying completed – strong correlation of known pegmatite with magnetic signatures
  • Potential to triple strike extension and achieve tonnage expansion through linking of multiple pegmatite structures
  • Completion of soil geochemistry orientation survey with results pending – will be a valuable tool for locating additional regional pegmatite bodies that are covered by shallow overburden
  • Phase II diamond drill program of an initial 10 to 12 holes commencing in September that will target down-dip and strike extensions, as well as the new pegmatite discovery to the east
  • The Company plans to be “dealready” by 2018 with respect of a strategic financing for Cancet

Commenting on the program at Cancet, Executive Director Mr Gino D’Anna stated:

“The recent field program was another step in refining our exploration strategy at Cancet where we have discovered a high grade and shallow lithium deposit adjacent to major power and transport infrastructure. The new discovery of outcropping pegmatite along strike provides us with further confidence that the deposit has the potential to deliver a world class lithium mine. Recent metallurgical testing results have been well received by potential offtake partners and strategic financiers and we are advancing discussions in this regard. The next stage is to re-mobilise to site and complete further drilling with the aim of increasing the tonnage of the deposit.”

The full announcement can be found by CLICKING HERE