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MetalsTech Ltd.
Summary
| Project: | Cancet | |
|---|---|---|
| Deposit: | Cancet | |
| Location: | Canada | |
| Commodities: | Lithium-Tantalum | |
| Date: | 12/19/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 19-12-2017: MetalsTech Ltd. announces an Exploration/Drilling Update report for its Cancet deposit at the Cancet project. Drilling results incl. 14.96m @ 1.43% Li2O from 1.54m. Hard-rock lithium explorer and developer MetalsTech Limited (ASX: MTC) (the “C | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Darren L. Smith (L'Ordre des geologues du Quebec ) | |
| ABSTRACT: | Hard-rock lithium explorer and developer MetalsTech Limited (ASX: MTC) (the “Company”) is pleased to announce laboratory assay results from the recent drilling campaign completed at the Company’s 100%- owned Cancet Lithium Project (the “Project” or “Property”), located in the James Bay Region of Quebec, Canada. “These assays support our understanding that Cancet has the potential to host a near surface and highgrade lithium deposit close to key infrastructure. Metallurgy testing performed on drill core indicate that Cancet material may be treated with a simple and low-cost conventional processing method. Over the past three months we have been successful in attracting investment from two strategic end-users which will enable the company to accelerate development at its portfolio of lithium projects.” The pegmatite body at Cancet remains to be delineated with a total defined strike length of approximately 1.2 km. In addition to the high lithium grades intersected near surface, significant tantalum mineralisation continues to be intersected. Drill hole MTC17-043 returned 689 ppm Ta2O5 over 9.66 m including a peak sample assay of 2,223 ppm Ta2O5. The zonation of the lithium and tantalum within the mineralised body at Cancet is being investigated further, with geological modelling ongoing to further define the relationship. A comprehensive field mapping and sampling campaign is planned to take place during 2018 focused on mapping other identified targets at Cancet, including the recently acquired Cancet East ground. The Company plans to continue resource definition drilling in 2018 together with a maiden drilling campaign at the Adina Lithium Project in February 2018. | |
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