Exceptional Results from Large Scale Metallurgical Test Work

Cobalt and lithium developer MetalsTech Limited (ASX:MTC) is pleased to announce it has received outstanding results from the initial metallurgical test-work program on representative split drill core from the Phase I drilling campaign at the Company’s 100%-owned Cancet Lithium Project in Quebec, Canada.

Highlights:

  • Heavy Liquid Separation (HLS) tests on composites crushed to 10mm and 5.6mm showed that Dense Media Separation (DMS) at SG 2.8 could recover 89% to 91% of the lithium at a grade of >6.4% Li2O in 19% of the DMS mass or 16.6% of the overall feed mass.
    • These results show a very high recovery at a coarse crush size is achievable.
    • Simple processing could mean significantly lower CAPEX and OPEX against peers as well as shorter commissioning time
    • Coarse grain premium concentrate – preferred by offtake partners
  • A High Grade Composite (2.35% Li2O) produced a concentrate grade of 6.41% Li2O from 10mm crush indicating simple low cost DMS gravity separation at SG 2.8 will recover 97% of the lithium in 35% of the DMS mass 
  • A Mid Grade Composite (1.54% Li2O) produced a concentrate grade of 6.12% Li2O from 10mm crush indicating DMS gravity separation at SG 2.8 will recover 95% of the lithium in 24% of the DMS mass 
  • The Low Grade Composite (1.06% Li2O) produced a concentrate grade of 5.90% Li2O from 10mm crush indicating DMS gravity separation at SG 2.8 will recover 92% of the lithium in 16% of the DMS mass 
  • Cancet hosts a clean pegmatite with low iron oxide in assayed drill samples (0.5% to 0.8% Fe2O3) – producing a high purity coarse grain premium spodumene concentrate:
    • Low to Moderate iron oxide content in concentrate < less than 1.5% Fe2O3, which will be lowered by magnetic separation
  • Initial results suggest product suite will meet and exceed grade requirements for battery market
  • Cancet metallurgical test-work compares favourably against other advanced lithium projects
  • Final representative metallurgical testing results for composite split drill core will be available within the next three weeks and will underpin offtake and strategic partner discussions

Commenting on recent results, Executive Chairman Mr Russell Moran stated:

“Initial results from the metallurgical test-work on composite drill core are outstanding. We look forward to final results being available in the next few weeks and advancing discussions with potential offtake and strategic partners. Having now defined a shallow high grade deposit at Cancet, we look forward to phase two drilling which will grow tonnage and prepare the project for delivery of a maiden resource and scoping study.”

The full announcement can be found by CLICKING HERE


MetalsTech Completes Placement to Accelerate Exploration

MetalsTech Limited (ASX: MTC) (the “Company”) is pleased to announce it has successfully completed a share placement to sophisticated and institutional investors to accelerate exploration and development at the Company’s 100%-owned Bay Lake High Grade Cobalt Project and its 100%-owned Cancet Lithium Project.

Highlights:

Placement

  • $1 million share issue supported strongly by new sophisticated and institutional investors
  • Placement designed to broaden the pool of supportive investors and secure like-minded shareholders that believe in the strategy for the Company’s high grade cobalt and lithium assets in Canada
  • Funds will help accelerate exploration and development activities at Bay Lake, where in-vein sampling has returned assays of >15% Co and surface “dump” pile sampling has returned assays of >2% Co (refer to ASX announcement dated 16 May 2017, titled “MetalsTech Expands High Grade Bay Lake Cobalt Project”)

Bay Lake (Cobalt) – Value Catalysts

  • Results from the recent exploration program expected late July 2017
  • Airborne surveys to commence late July 2017
  • Phase I drilling planned for late August 2017
  • The Company is also evaluating additional cobalt opportunities around Bay Lake and in close proximity to the Town of Cobalt, Ontario (Canada)

Cancet (Lithium) – Value Catalysts

  • Field exploration to commence in late July 2017 with a focus on continuing to extend the mineralised pegmatite strike, and channel sampling and mapping of complementary mineralised structures
  • Phase II drilling to follow completion of the field program with a focus on building tonnage of the high grade deposit which starts at surface
  • Initial results from representative drill core metallurgical and mineralogy testing expected shortly followed by final results in August 2017
  • The completion of representative product profiling will support offtake and strategic partner discussions

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

“The placement has allowed us to attract a new pool of supportive sophisticated and institutional investors, which will complement our tight share register and existing investor network. The funds raised will allow us to accelerate exploration and development at our high grade cobalt and lithium projects. “We have a strong pipeline of value catalysts and look forward to delivering on our strategy.”

The full announcement can be found by CLICKING HERE


Trading Halt

The full announcement can be found by CLICKING HERE


Response to ASX Aware Query

The full announcement can be found by CLICKING HERE


Response to ASX Price Query

The full announcement can be found by CLICKING HERE


Additional High-Grade Lithium Intersected at Cancet, with 3.23% Li2O over 11.46 metres

Cobalt and lithium explorer MetalsTech Limited (ASX: MTC) (the “Company”) is pleased to announce the remaining drill results from the winter program recently completed at the Company’s 100%-owned Cancet Lithium Project (the “Project” or “Property”), located in the James Bay Region of Quebec, Canada.

Highlights include:

  • MTC17-021 – 21.46 m @ 2.24% Li2O and 310 ppm Ta2O5 from 5 m depth, including:
    11.46 m @ 3.23% Li2O (15.00 m to 26.46 m); or
    ▪ 3.01 m @ 4.82% Li2O (16.99 m to 20.00 m); and
    ▪ a sample high of 6.61% Li2O at 18 m depth
  • MTC17-022 – 17.00 m @ 2.06% Li2O and 327 ppm Ta2O5 from 6 m depth, including:
    8.15 m @ 3.44% Li2O and 558 ppm Ta2O5 (6.00 to 14.15 m); or
    ▪ 4.00 m @ 4.72% Li2O (9.02 m to 13.02 m); and
    ▪ a sample high of 5.55% Li2O at 10 m depth
  • MTC17-013 – 15.88 m @ 1.82% Li2O and 171 ppm Ta2O5 from 18.12 m depth, including:
    ▪ 5.00 m @ 2.88% Li2O and 126 ppm Ta2O5 (25.00 m to 30.00 m); and
    ▪ a sample high of 4.61% Li2O at 25 m depth
  • MTC17-020 – 6.25 m @ 3.58% Li2O and 332 ppm Ta2O5
  • MTC17-025 – 11.02 m @ 2.93% Li2O and 317 ppm Ta2O5
  • MTC17-014 – 10.00 m @ 2.67% Li2O and 333 ppm Ta2O5 from 21 m depth, including a sample high of 5.92% Li2O at 27 m depth
  • MTC17-040 – 5.00 m @ 2.56% Li2O and 92 ppm Ta2O5

The mineralised pegmatite body is open in all directions with a total defined strike length of the host pegmatite body of ~1.2 km. In addition to the encouraging lithium grades intersected near surface, significant tantalum mineralisation continued to be intersected. Drill hole MTC17-010 returned 444 ppm Ta2O5 over 34 m including a peak sample assay of 970 ppm Ta2O5. The zonation of the lithium and tantalum within the mineralised body at Cancet is not yet well-understood, with geological modelling ongoing to further define the relationship.

A LIDAR and orthophoto survey has recently been completed over the Property with processing and final deliverables expected in early July. The survey will provide high-accuracy topographic control to assist with geologic and resource modelling, as well as support regional prospecting work and the Phase II drill program planned for next quarter.

Commenting on recent results, Executive Chairman Mr Russell Moran stated:

“These assays support our thesis that Cancet has the potential to host a high-grade lithium deposit very close to surface. We are eagerly awaiting the results from the metallurgy and mineralogy testing on select drill core which we hope will indicate a simple and low-cost conventional processing opportunity, and support ongoing offtake and strategic partner discussions. Cancet is located only a few kilometres from low-cost hydro-power and an existing regional all-weather road, thus, if sufficient resources are defined, we will be well positioned with a highly attractive asset to further develop”

The full announcement can be found by CLICKING HERE


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.

Highlights:

  • 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


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