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