Appendix 3B

The full announcement can be found by CLICKING HERE 


Outstanding Metallurgical Testwork Results at Cancet

Excellent Results from Metallurgical Testing at Cancet

Cobalt and lithium developer MetalsTech Limited (ASX:MTC) is pleased to announce it has received outstanding results following its recently completed initial mineralogy profiling program on the Company’s 100%-owned Cancet Lithium Project in Quebec, Canada.

Highlights:

  • Initial metallurgical test work on 5kg outcrop sample confirms high grade spodumene in the pegmatite ore body at Cancet
  • Concentrate grade of 6.24% Li2O produced from 10mm crush indicating simple low cost DMS gravity separation will recover 77% of the lithium in 13% of the mass: o Dense Media Separation (DMS) removed 80% of the mass feed at 2.7SG indicating very high recovery at a coarse crush size
    • Simple processing could mean significantly lower CAPEX and OPEX against peers as well as shorter commissioning time
    • Coarse grain premium concentrate
  • Initial mineralogy / metallurgical profiling suggests product suite will meet and exceed grade requirements for battery market
  • Metallurgical test work compares favourably against advanced projects in Western Australia including Tawana Resources – Bald Hill project
  • Representative metallurgical testing on composite split drill core commencing shortly – will underpin early offtake and strategic partner discussions

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

“Preliminary metallurgical profiling from outcrop samples confirms Cancet is a primary spodumene rich lithium pegmatite. Initial test results demonstrate delivery of a battery grade spodumene concentrate through simple DMS processing, which suggests potential for a very low CAPEX and OPEX operation compared to peers. Although testing was based on surface outcrops which is a precursor to the representative drill core metallurgy testing currently underway, the results are nonetheless outstanding. Cancet is a shallow high grade deposit adjacent to low cost power and established highway infrastructure, and if the metallurgy continues to outperform and we continue to extend strike, it will be a strategic deposit.

We are accelerating metallurgical testing on drill core to increase confidence and representation, which will underpin early offtake and strategic partner discussions. Importantly, recent test work was carried out on outcrop samples that are now considered to be a significant underestimate of the projects MetalsTech Limited ACN 612 100 464 – Unit 1, 44 Denis Street, Subiaco WA 6008 T +61 408 408 878 | +61 415 493 993 www.metalstech.net

representative grade following Phase I drilling and although these results are excellent, we are confident they are ultimately conservative.”

The full announcement can be found by CLICKING HERE


MetalsTech Expands High Grade Bay Lake Cobalt Project

Cobalt and Lithium developer MetalsTech Limited (ASX: MTC) is pleased to announce it has entered into a binding acquisition agreement to acquire a significant package of mineral claims that are contiguous with the Company’s 100% owned Bay Lake High Grade Cobalt Project located in Ontario, Canada.

Highlights:
• Proposed acquisition of 11 contiguous mineral claims increases the Company’s landholding at Bay Lake four-fold to 2,744 hectares within a highly prospective Ag-Co rich geological domain

• Proposed acquisition is in keeping with the Company’s strategy to focus on strategic commodities for the battery market, including cobalt and lithium

• Bay Lake is located 10km SSW of the Historic Silver Mining Camp of Cobalt Township and has 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 proposed acquisition includes mineral claims that are similarly host to historic exploration shafts and pits, including the Price Prospect where historic sampling of surface “dump” material assayed 2.14% Co, 0.11% Cu, 0.48 g/t Au and 1,740 g/t Ag

• Legal and technical due diligence complete with settlement due in the next few days

• Exploration will commence at Bay Lake next month including ground mapping, mechanised trenching, sampling and drill target identification

Commenting on the new acquisition, Executive Chairman Mr Russell Moran stated:

“We have solidified a strategic holding near the exciting Township of Cobalt which we believe is the jurisdiction with the most potential for new high grade cobalt discoveries outside of the DRC. We are progressing through the community and stakeholder engagement process and we expect to be in a position to commence maiden exploration at Bay Lake next month.”

The full announcement can be found by CLICKING HERE


Assays Confirm High Grade Intersections at Cancet

18m @ 3.71% Li2O and 301 ppm Ta2O5 from 8m Depth at Cancet

Cobalt and lithium developer MetalsTech Limited (ASX:MTC) is pleased to announce exceptional drill intersection assays at the Company’s 100%-owned Cancet Lithium Project in Quebec, Canada.

Highlights:

  • Exceptional near surface drill assay results from the first batch of drill core assayed which comprised of two prioritised drill holes:
    • MTC17-015 assayed 18.00m @ 3.71% Li2O and 301 ppm Ta2O5 from 8m depthincluding:
      • 5.00m @ 4.10% Li2O and 114 ppm Ta2O5 from 12m; and
      • 8.00m @ 3.59% Li2O and 489 ppm Ta2O5 from 18m
    • MTC17-002 assayed 5.08m @ 2.67% Li2O and 323 ppm Ta2O5 from 9m depth;including:
      • 2.08m @ 4.78% Li2O and 614 ppm Ta2O5 from 12m
    • Assays from second batch of drill holes expected over the coming weeks
    • Ore profiling and initial metallurgical test work now completed by NAGROM and Primero – report with complete analytical results expected shortly
    • Drilling continues to extend strike of the mineralised pegmatite

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

These results confirm our thesis that Cancet has the potential to host an exceptionally high grade lithium deposit very close to surface. It is located only a few kilometres from low cost hydro-power and an existing provincial highway, so if we continue to extend strike and grow tonnes, we will be well positioned to deliver a world class low cost mine.

The fulll announcement can be found by CLICKING HERE


Spodumene Rich Pegmatite Intersections Confirmed From Surface at MetalsTech’s Cancet Lithium Project

Cobalt and lithium developer MetalsTech Limited (ASX:MTC) is pleased to announce exceptional results from its first phase diamond drilling exploration program at the Company’s 100%-owned Cancet Lithium Project in Quebec, Canada.

Highlights:
•    Heavily spodumene mineralised pegmatite confirmed in multiple drill holes at Cancet starting at surface suggesting the presence of a high-grade lithium mineralised pegmatite structure with low operating-cost open cut mining potential
•    25 diamond drill holes reported with 220 diamond drill core samples sent to Activation Laboratories in Ontario for multi-element analysis including lithium and tantalum – results expected in the coming weeks
•    Exceptional near surface drilling results have been encountered, including:
o    57.0m (from 15.0m to 72.0m) mineralised pegmatite intersection within hole MTC17-010 with a spodumene mineralisation estimate of 20%
o    27.5m (from 0.0m to 27.5m) mineralised pegmatite intersection within hole MTC17-015 with a spodumene mineralisation estimate of 45%
o    26.4m (from 0.0m to 26.4m) mineralised pegmatite intersection within hole MTC17-021 with a spodumene mineralisation estimate of 20%
o    25.3m (from 28.5m to 53.8m) mineralised pegmatite intersection within hole MTC17-025 with a spodumene mineralisation estimate of 25%
o    24.0m (from 18.0m to 42.0m) mineralised pegmatite intersection within hole MTC17-013 with a spodumene mineralisation estimate of 25%
o    20.0m (from 0.0m to 20.0m) mineralised pegmatite intersection within hole MTC17-022 with a spodumene mineralisation estimate of 15%
o    17.4m (from 0.0m to 17.4m) mineralised pegmatite intersection within hole MTC17-011 with a spodumene mineralisation estimate of 15%
•    All lithium mineralisation contained in spodumene and main pegmatite zone remains open along strike in both directions
•    Additional spodumene-bearing pegmatite outcrops have been uncovered during trail and drill site  preparation, suggesting significant  exploration upside
•    Ore profiling and initial metallurgical test work underway with NAGROM and Primero – results expected in the coming weeks

The full announcement can be found by CLICKING HERE


March 2017 Quarterly Cashflow Report

The full announcement can be found by CLICKING HERE


March 2017 Quarterly Activities Report

MetalsTech Limited (ASX: MTC) is pleased to report its activities for the quarter ended 31 March 2017.

Highlights

•    Commenced trading on the Australian Securities Exchange (ASX) following successful completion of IPO which raised approximately $4.3 million
•    Drilling permit approvals obtained for both the Cancet and Adina lithium projects
•    Resource definition drilling underway at the 100% owned Cancet Lithium Project, where up to 5.58% Li2O has been assayed in drill target zones at surface (refer to ASX announcement dated 2 March 2017 and titled “Up to 5.58% Li2O in Drill Target Zone at MTC Cancet Project”)
•    Completion of the acquisition of high grade Bay Lake Cobalt Project in Ontario, where assays include up to 15.36% Co in historical mine workings (refer to ASX announcement dated 16 March 2017 and titled “MetalsTech to Acquire Two High Grade Cobalt Projects”)
•    Drilling results for the first 26 diamond core holes at Cancet expected in the next week where significant spodumene mineralised drill intersections have been encountered starting from surface
•    MetalsTech on-track to deliver maiden resource and scoping study at Cancet Lithium Project

A full copy of the announcement can be found by CLICKING HERE


MetalsTech Settles Acquisition of Bay Lake High Grade Cobalt Project

Cobalt and lithium developer MetalsTech Limited (ASX:MTC) is pleased to announce it has settled the 100% acquisition of the Bay Lake High Grade Cobalt Project located in Ontario, Canada.

Commenting on completion of the acquisition, Executive Director, Mr Gino D’Anna stated:

“With the acquisition of Bay Lake now settled, we are accelerating Phase I exploration. Cobalt and lithium play a crucial role in the rapidly growing lithium ion battery sector and MetalsTech has secured a strategic portfolio of high grade projects in Canada.

Phase I exploration at Bay Lake will include regional scale mapping and sampling along the highly prospective Nipissing Diabase as well as within the project’s historical mining shafts and adits which have 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”). Phase I will also include an airborne Electromagnetic and Induced Polarisation survey as a precursor to drill target identification and subsequent maiden drilling.

The Company intends to expand its cobalt exposure through the acquisition of additional ground in and around the Town of Cobalt where Bay Lake is located, and expects to update stakeholders in the coming weeks.

A full copy of the announcement can be found by CLICKING HERE


Completion of DD at High Grade Bay Lake Cobalt Project

Cobalt and lithium developer MetalsTech Limited (ASX:MTC) is pleased to announce it has completed legal and technical due diligence pursuant to the proposed 100% acquisition of the high grade Bay Lake Cobalt Project, located in Ontario, Canada.

The Company has commenced settlement of the acquisition.

Highlights:

  • Completion of legal and technical due diligence in relation to the high grade Bay Lake Cobalt Project with commencement of settlement of the 100% acquisition
  • Attractive acquisition structure with minimal dilution provides the company with exposure to highly prospective ground in one of the most exciting high grade cobalt jurisdictions globally
  • Acquisition complements the company’s existing high grade lithium projects and exposure to strategic commodities for the battery market
  • Bay Lake covers 672 Ha 10 km SSW of the Historic Silver Mining Camp of Cobalt Township and has assayed up to 15.36% Co in cobalt-rich veins
  • The company is in the process of expanding its landholding in and around the Bay Lake project area
  • Drilling progressing well with 10 holes complete from the 4,000m drill campaign at the Cancet Lithium Project, where up to 5.58% Li2O has been assayed in channel samples
  • Significant spodumene mineralised pegmatite intersections delineated in first batch of drill holes starting at surface with assay confirmation from laboratory pending

Commenting on the completion of the legal and technical due diligence, Executive Chairman Mr Russell Moran stated:

“We are excited to be proceeding with the Bay Lake acquisition as it is an important part of our strategy to build exposure to key commodities for the growing battery market. The Township of Cobalt is in our view, the jurisdiction with the most potential for new high grade cobalt discoveries outside of the DRC. We have spent considerable time assessing our entry into the cobalt market and have on the whole found it very difficult to identify real high grade opportunities. For most cobalt projects, cobalt is only a secondary credit at best, constrained by grade. The Township of Cobalt, which boasts abundant silver-cobalt geology, has a long history of mining and a significant regional data set that includes consistently high grade cobalt assays which supports a thesis for high grade discoveries. We believe the area presents a real opportunity for primary cobalt development. We are excited to be one of the few early movers in this region and we will look to grow our exposure to this area over time.”

A copy of the complete ASX Announcement can be found by CLICKING HERE