Amended Appendix 3B

The full announcement can be found by CLICKING HERE


Response to ASX Price Query

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Appendix 3B

The full announcement can be found by CLICKING HERE


MetalsTech Commences Diamond Drilling at Cancet Lithium

MetalsTech (MTC or the Company) is pleased to announce it has commenced drilling at its Cancet Lithium Project in Quebec, Canada.

Highlights

•    ~1,500m diamond core drilling campaign has commenced at the 100%-owned Cancet Lithium Project where the Company has delineated ~1.2km of mineralised pegmatite strike starting at surface
•    Drilling campaign designed to extend strike, dip, and plunge continuity of pegmatite, as well as test newly discovered pegmatite outcrops ~1km east of the existing strike
•    Pool of 25 drill sites identified within the main zone after remodelling following recent field mapping and magnetic survey, with actual sites drilled and order of drilling subject to iterative drill results
•    Results from drill program will underpin maiden resource estimation and delivery of a scoping study and support ongoing strategic and end-user discussions
•    Cancet boasts excellent infrastructure including major highway and high voltage power in close proximity

Commenting on the commencement of drilling, Executive Chairman Mr Russell Moran stated:

“We are excited to be drilling again at Cancet and look forward to updating shareholders over the coming
weeks with progress.

“Since our last drill campaign we have completed a range of surface mapping, geochemistry and magnetic investigations which will ensure we maximise our drilling efforts in this, and future, campaigns.

“We have achieved excellent metallurgical and mineralogy testing results on representative drill core – resulting in increased interest from potential strategic partners and end users.”

The full announcement can be found by CLICKING HERE


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


MetalsTech’s Exploration Strategy for Cancet Lithium Project

Lithium developer MetalsTech Limited (ASX: MTC) would like to announce the exploration strategy for its Cancet Lithium Project in Quebec, Canada.

Highlights

MetalsTech has built a strategic portfolio of hard-rock lithium projects in Quebec, Canada and is focused on the exploration and development of its flagship high-grade Cancet Lithium Project:
•    The Company will complete its planned Phase II drilling program and subsequently delineate a maiden JORC resource, with the first 10 holes of this program to commence in September
•    Cancet is located adjacent to key infrastructure and mining services including power, water, gas and road
•    Advanced drill-core metallurgical test work identified the Cancet pegmatite as being a primary spodumene pegmatite (98% spodumene) with low levels of impurities and a coarse-stubbly spodumene crystal structure
•    Testing by tier 1 WA-based laboratory NAGROM has demonstrated that using a simple DMS process, Cancet is able to achieve high lithium deportment ratios from low relative mass feed indicating potential for a low CAPEX and OPEX operation
•    Cancet spodumene concentrate is a coarse-grain product at a grind size of 10mm and is highly sought after by offtake customers – offtake discussions are progressing
•    Phase I drilling campaign completed in March 2017 indicated a shallow high-grade deposit at Cancet – a mineralised strike length of 1.2km has been identified and remains open in both directions
•    Further down dip / plunge extensions and infill drilling will be completed as part of the Phase II program to ensure internal management targets for tonnage are met
•    Ground magnetic surveys have been completed at Cancet highlighting additional pegmatite structures that will be drill tested in future campaigns – significant potential for mineralised strike extension
•    The Company plans to be “deal-ready” by 2018 in respect of a strategic financing for Cancet

Executive Director Mr Gino D’Anna stated:

“Since listing in February 2017 we have made significant progress at Cancet. Drilling has demonstrated
the project has potential to be a shallow high-grade deposit while the metallurgical test work results have been strong.

Our aim for the Phase II drilling campaign is to significantly increase the tonnage at Cancet, allowing us to deliver a maiden JORC resource and subsequent Scoping Study to model the potential economics of a hard rock lithium operation.

Despite the recent softening of the share price largely caused by trading activities of one significant shareholder, our register remains tight with the top 20 shareholders controlling over 70%, and our core shareholder base remains supportive of the Company and its projects.”

The full announcement can be found by CLICKING HERE