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MetalsTech Ltd.
Summary
| Project: | Cancet | |
|---|---|---|
| Deposit: | Cancet | |
| Location: | Canada | |
| Commodities: | Lithium-Tantalum | |
| Date: | 11/9/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 9-11-2017: MetalsTech Ltd. announces a Resource Estimation report for its Cancet deposit at the Cancet project. Exploration Target range: 15Mt - 25mt @ 1.0% - 2.0% LiO2, 100 - 250ppm Ta2O5. MetalsTech (MTC or the Company) is pleased to announce that an Ex | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Stewart A. Jackson (SAJ Associates) | |
| ABSTRACT: | MetalsTech (MTC or the Company) is pleased to announce that an Exploration Target of between 15Mt and 25Mt at a grade range between 1.0% to 2.0% Li2O and 100ppm to 250ppm Ta2O5 has been independently defined at its flagship 100% owned Cancet Lithium Project, located in Quebec, Canada. The Exploration Target was formulated following an independent review of the Company’s exploration results including diamond core drilling, assays, field mapping, trenching, rock and channel sampling, magnetic survey and LiDAR survey. The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. “Cancet clearly has potential to deliver a world-class lithium deposit with shallow high-grade mineralisation. Drill core metallurgical test work has confirmed a primary spodumene deposit and identified a way forward to produce a high value, low impurity spodumene concentrate which can be readily upgraded to lithium carbonate and hydroxide for use in the lithium ion battery market. Our recent agreement with Wuxi Baichuan Chemical Industrial Co Ltd to take a 10% stake will allow us to accelerate development plans. In addition to further drilling at Cancet, we are looking to commence maiden drilling at Adina, which has the potential to join Cancet in a much larger corporate strategy, anchored by growing ties with potential strategic partners and end-users who want to lock down stable long-term supply. | |
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