• MetalsTech (MTC) identifies visible gold in drill hole UGA-41 at its Sturec gold mine in Slovakia
• The company drilled this hole as part of its phase two diamond drilling program to test the depth of the mineralised zone below the Sturec mineral resource
• MTC identified visible gold in the hole at 130.8 metres within a five-centimetre quartz-pyrite/marcasite filled vein
• Drill core is currently being sampled and will be dispatched for analysis and the company expects to provide an update in the next few weeks

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• MetalsTech (MTC) identifies visible gold in hole UGA-43 at its Sturec Gold Mine in Slovakia
• Hole UGA-43 was drilled under the company’s phase two diamond drilling program which is aiming to increase the confidence of the geological interpretation of Drill Chamber 2
• Visible gold was identified at 51.4 metres, measures 0.5 millimetres in size and is present as blebs within a vein containing fine-grained chalcedonic quartz-pyrite
• An update will be made in the following weeks once the core has been sampled and analysed at the laboratory

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• MetalsTech (MTC) progresses drilling and is finalising its scoping study for its Sturec gold mine in Slovakia
• The company is currently working on diamond core drilling to expand the mineral resource at depth
• Construction is in progress for the fourth drill chamber, with drilling expected to commence in late June
• The scoping study is being finalised and is expected to be complete mid-June

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• MetalsTech (MTC) strikes a “bonanza” gold intersection at its Sturec Gold Mine in Slovakia
• The company undertook diamond drilling at the project with the aim of increasing the confidence of the southern extent of the existing Sturec mineral resource
• Drilling intersected a thick, continuous mineralised zone, returning results including 173.2 metres at 3.27 grams of gold per tonne
• MetalsTech says the assays demonstrate the mineralisation extends further to the south along strike of the existing resource, remaining open down plunge

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• Metals Tech (MTC) identifies visible gold after completing geological logging and sampling at its Sturec gold mine in Slovakia
• The gold was intersected within one hole at two intervals, 29.6 metres and 72.8 metres
• The hole was completed to a depth of 109.2 metres and was designed to infill previous drilling
• The company will report on the assays from the most recent drilling once received and interpreted

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• MetalsTech (MTC) identifies seven new zones of potentially significant gold mineralisation from regional exploration assessment at its Sturec gold mine
• The exploration target contained a cumulative size range of between 37.9 million tonnes (Mt) and 58.2Mt at an average grade of between 1.79 grams per tonne (g/t) of gold equivalent (AuEq) and 2.75 g/t of AuEq, for a total of between 2.18 million ounces (Moz) of AuEq and 5.15Moz of AuEq
• The existing Sturec mineral resource is separate from the exploration target, which is 38.5Mt at 1.23 g/t of gold and 8.8 g/t of silver, containing 1.522Moz gold and 10.93Moz silver
• The company is awaiting a significant number of assay results from the recently completed diamond drilling from within drill chamber #2, which is part of the Phase 2 underground diamond drilling program

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• MetalsTech (MTC) and battery materials investor Lithium Royalty Corp (LRC) have signed an $18 million deal in regard to MTC's lithium assets in Canada
• LRC will pay MetalsTech $6 million to gain a 3 per cent gross revenue royalty over the Cancet, Adina and Sirmac-Clapier lithium projects
• MetalsTech will use the money to advance resource drilling and a scoping study at its Sturec Gold Mine in Slovakia
• The next phase of the deal involves the spin-out of these lithium assets into Winsome Resources, which plans to list on the ASX under the ticker code 'WR1'
• Subject to approval, MTC shareholders will receive a proposed $9 million worth of shares in WR1
• LRC has also agreed to invest $3 million in Winsome Resources' initial public offering (IPO) at an assumed price of 20 cents per share

MetalsTech (MTC) and Lithium Royalty Corp (LRC) have signed a binding agreement in regards to MTC's lithium assets.

The $18 million deal will be split into three payments with the first being a $6 million cash payment to MetalsTech in exchange for a 3 per cent gross revenue royalty over the Cancet, Adina and Sirmac-Clapier lithium projects in Canada.

The 3 per cent royalty only applies to lithium, with MetalsTech retaining gold rights over these assets. The company will use the money to accelerate resource expansion and a scoping study at its Sturec Gold Mine in Slovakia.

The second stage involves the spin-out of these lithium assets through the separate ASX listing of Winsome Resources (WR1).

Subject to approval, MTC shareholders will receive a proposed $9 million worth of shares in WR1 which equates to 45 million WR1 shares distributed to MetalsTech's shareholders.

MTC currently has 153.8 million shares on issue so this is equivalent to one free WR1 20-cent share for every 3.4 MTC shares held.

"The proposed deal with Lithium Royalty Corp strikes the right risk and reward balance for our shareholders as well as providing a significant non-dilutive cash injection to allow MetalsTech to expand on an already incredibly successful resource expansion drilling program at our flagship Sturec Gold Mine," Chairman Russell Moran said.

LRC has also agreed to cornerstone Winsome Resources' initial public offering (IPO). The battery materials investor will invest $3 million in WR1 at an IPO equivalent price which is assumed to be 20 cents per share.

"Our shareholders will also be rewarded with a significant return in the form of free 20-cent shares in Winsome Resources which will be able to move forward with strong cornerstone investor support and an experienced management team," he added.

Winsome Resources has lodged a submission to the ASX to determine the suitability of the assets and WR1's capital structure.

The ASX provided its feedback which requires WR1 appointing additional directors that have significant ASX experience and appointing a lead manager to its IPO.

As it turns out, the company will be led by Chris Evans as Executive Director and MetalsTech's Non-Executive Director, Dr Qingtao Zeng, who'll act as Technical Director.

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• Diamond drilling at MetalsTech's (MTC) Sturec Gold Mine in Slovakia continues to deliver high-grade results

• The company said the underground drilling showed the thick continuous zones of gold mineralisation continues along strike from the current resource
• MTC previously identified multiple zones of visible gold in one of the diamond drill holes, with further assays now received
• Best results include five metres at 20.46 g/t gold and 21.6 g/t silver from 92 metres in UGA-12 and four metres at 10.86 g/t gold and 36.2 g/t silver from 34 metres in UGA-07
• Further assay results are still outstanding for three holes, while a second drill rig is also being sent to the site to carry out additional drilling
• MetalsTech shares are trading for 17.5 cents per share

Diamond drilling at MetalsTech's (MTC) Sturec Gold Mine in Slovakia continues to deliver high-grade results.

The materials stock has reported more results from the underground drilling program, where 14 holes have been completed to date.

MTC said the drilling at Sturec continues to demonstrate the thick continuous zones of gold mineralisation continue along strike from the current resource boundary.

The company previously identified multiple zones of visible gold in one of the diamond drill holes, with further assays now received.

Best results from this latest round of assays include five metres at 20.46 g/t gold and 21.6 g/t silver from 92 metres in UGA-12, as well as four metres at 10.86 g/t gold and 36.2 g/t silver from 34 metres in UGA-07.

Results were also returned from hole UGA-10 and UGA-09, which was positioned above UGA-05, and both increased the known mineralised zone of the previous drill hole.

Moving forward, MetalsTech expects more results from the drilling program after carrying out the additional hole sampling.

The company also stated that a second drill site was being set up at Sturec to carry out additional down-dip and strike extension drilling.

Read the full article on The Market Herald here.

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• MetalsTech (MTC) has proposed a spin-out of its high-grade lithium assets in Quebec, Canada

• The spin-out will create a new company, which will be a wholly owned Australian subsidiary of MetalsTech
• In conjunction with the spin-out, the newly created company will undertake an initial public offering to raise up to $8 million
• If the spin-out is approved shareholders, MTC is planning to appoint lithium industry veteran Chris Evans as its Executive for lithium operations
• On the market this afternoon, MetalsTech is up 5.88 per cent and is trading at 18 cents per share

MetalsTech (MTC) has proposed a spin-out of its high-grade lithium assets in Quebec, Canada. 

The spin-out will create a new company, which will be a wholly owned Australian subsidiary of MetalsTech. 

The Canadian assets include the Cancet Lithium Project and cover 9584 hectares of prospective high-grade lithium. 

Under the agreement, the new company will be incorporated with one share on issue, which will be owned by MTC.

The new company will then enter a share sale agreement, where it will buy all of the shares that MTC holds in the Quebec assets. 

In conjunction with the spin-out, the newly created company will undertake an initial public offer (IPO) of its securities. Under the IPO, the new company is aiming to raise up to $8 million. 

However, the spinout deal will need to be approved by shareholders. 

If approved, MTC is planning to appoint lithium industry veteran Chris Evans as its Executive for lithium operations, initially on a consultancy basis, to help drive the company's lithium strategy. 

Notably, this role is could potentially expand with the new company, under the spinout. 

Chris is an experienced project delivery and operational management expert who, as CEO, was responsible for building and bringing the Pilganaoora lithium mine into operation.

On the market this afternoon, MetalsTech is up 5.88 per cent and is trading at 18 cents per share at 1:05 pm AEDT.

Read the full article on The Market Herald here.