MTC Commences Exploration at High Grade Bay Lake Cobalt Project

Cobalt and Lithium developer MetalsTech Limited (ASX: MTC) is pleased to announce it has mobilised geological field crew to it’s 100% owned Bay Lake High Grade Cobalt Project located in Ontario, Canada.


  • Geological field crew mobilised to Bay Lake to undertake mapping and sampling of exploration shafts within the project area as well as historical exploration trenches and pits
  • Maiden exploration field program will define the potential high grade cobalt mineralisation within the project and form the foundation for drill target identification
  • Bay Lake is located 10km SSW of the Historic Cobalt Mining Camp of Cobalt Township and has historically assayed up to 15.36% Co in cobalt-rich veins (refer to ASX announcement dated 16 March 2017 and titled “MetalsTech to Acquire Two High Grade Cobalt Projects”)
  • The Company has significantly expanded the Bay Lake project through tenement acquisitions, including strategic mineral claims that are similarly host to exploration shafts and pits, including the Price Prospect where historic sampling of surface “dump” material historically assayed 2.14% Co, 0.11% Cu, 0.48 g/t Au and 1,740 g/t Ag (refer to ASX announcement dated 16 May 2017 and titled “MetalsTech Expands High Grade Bay Lake Cobalt Project”)
  • Field exploration will be complemented with an Airborne Magnetic (Quadrimag / EM) and VLFEM survey as part of the Phase II exploration campaign as a pre-cursor to drilling to better define the structural geology of the project
  • Laboratory assays for the Cancet Lithium Project are currently being finalised through ActLabs with strong results expected

Commenting on the commencement of exploration at Bay Lake, Executive Director Mr Gino D’Anna stated:

“The Cobalt Mining Camp region is geologically rich and was once the pre-eminent source of high grade silver and cobalt production in Canada. Bay Lake boasts a large number of historical surface and underground mine workings with assays from mine shaft sampling exceeding 15% cobalt and sampling of surface dumps exceeding 2% cobalt. This initial phase of exploration will sample surface stock piles that lie adjacent to historical exploration shafts, pits and trenches as well as assisting our geological team to define drill targets within the high grade silver and cobalt mineralisation.”

The full announcement can be found by CLICKING HERE