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MetalsTech Limited (ASX: MTC) (the Company or MTC) is pleased to announce the updated assay results for UGA-46, which were completed from Drill Chamber III, together with further assay results from from Drill Chamber IV as part of the Phase IV diamond drilling program at the Company’s 100% owned Sturec Gold Mine, located in Slovakia (Sturec). The Company is currently drilling from Drill Chamber IV, with the assay results from UGA-47, UGA-48, UGA-53, UGA-54, UGA-55, UGA-56, UGA-57, UGA-58 and UGA-59being received. The company is awaiting results from UGA-60, UGA-61 and UGA-62 and is currently drilling UGA-63.
Highlights
- The Company expects to receive an independent update to the Mineral Resource Estimate for the Sturec Gold Project shortly which will feed immediately into the Pre-Feasibility Study
- New assay results indicate the overall mineralised zone in UGA-46 has greatly improved from 113.0m @ 1.16g/t Au and 17.4g/t Ag from 0m (0.25g/t Au cut-off, downhole thickness; refer to MTC announcement dated 8 November 2022) to:
- 132m @ 1.51g/t Au and 16.2g/t Ag from 0m (0.25g/t Au cut-off, downhole thickness)
- The 113-126m zone in UGA-46 has now been determined to be included in a wider, higher grade zone of 33m @ 2.29g/t Au & 9.3g/t Ag from 99m (0.4g/t Au cut-off, downhole thickness), including:
- 9m @ 7.29g/t Au & 13.3g/t Ag from 123m (0.5g/t Au cut-off, downhole thickness); incl.
- 1m @ 43.6g/t Au & 61.4g/t Ag from 127m (no Au cut-off, downhole thickness)
- 9m @ 7.29g/t Au & 13.3g/t Ag from 123m (0.5g/t Au cut-off, downhole thickness); incl.
Cautionary Note: These intersections are not a true thickness as the drill holes were drilled at a shallow angle to the mineralised zone due to the location of the underground drill site relative to the target zone. Modelling suggests the true thickness of mineralisation in this area is approximately 110-90m at the top and ~40-30m at the bottom of the drill hole: see Figures 1 and 2).
- UGA-47 intersected thick, continuous mineralized zone of 18.0m @ 1.57g/t Au and 6.1g/t Ag from 38m (0.2g/t Au cut-off, downhole thickness) including:
- 4m @ 6.27g/t Au & 23.6g/t Ag from 38m (0.5g/t Au cut-off, downhole thickness);
- UGA-48 intersected thick, continuous mineralized zone of 32.0m @ 1.49g/t Au and 7.8g/t Ag from 10m (0.25g/t Au cut-off, downhole thickness) including:
- 20m @ 2.06g/t Au & 10.4g/t Ag from 22m (1g/t Au cut-off, downhole thickness); incl.
- 4m @ 3.76g/t Au & 29.2g/t Ag from 31m (2g/t Au cut-off, downhole thickness)
- 20m @ 2.06g/t Au & 10.4g/t Ag from 22m (1g/t Au cut-off, downhole thickness); incl.
- The first two surface drill holes (SSD-01 and SSD-02) to test the depth extent of some of the highest grade areas of the Sturec Mineral Resource are complete and the third surface drill hole (SSD-03) is underway
Commenting on the results, Executive Director of MetalsTech, Mr Gino D’Anna stated:
“Drilling at Sturec continues to deliver significant gold intersections. We are days away from receiving an independent update to the Mineral Resource Estimate and look forward to transitioning to a significant gold development story and progressing pre-feasibilty study works.”
The drilling from Drill Chamber III was designed mainly to increase the confidence of the southern extent of the existing Sturec Mineral Resource, as well as potentially extend the mineralisation within the existing Sturec Mineral Resource at depth. The drilling from Drill Chamber IV was designed mainly to potentially extend the mineralisation within the existing Sturec Mineral Resource to the south, especially down dip/plunge.
Table 1: Drill holes from Drill Chamber III and IV
UGA-46
UGA-46 was stopped at a depth of 179.3m and was planned as an infill drill hole into the existing Sturec Mineral Resource that would also test the lower boundary of the existing Sturec Mineral Resource (refer to MTC announcement dated 21 June 2021). This was the final hole drilled from Drill Chamber III. The details for drill holes from Drill Chamber III are set out in Table 1. See Figure 1 and 2 for the relative position of UGA-46 compared to the existing Sturec Mineral Resource respectively (refer to MTC announcement dated 21 June 2021).
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Pinnacle Silver and Gold
Investor Insight
Pinnacle Silver and Gold presents a compelling investment opportunity in the precious metals sector as it continues to advance its flagship high-grade El Potrero project in Mexico and its Red Lake, Ontario assets. The company’s proven business model focuses on rapidly reactivating past-producing mines to generate early cash flow, while simultaneously exploring for district-scale potential, offering a strong value proposition in a bullish gold-silver environment.
Overview
Pinnacle Silver and Gold (TSXV:PINN,OTC:PSGCF,Frankfurt:P9J) is a promising player positioned for growth in the precious metals exploration sector, with its strategic focus on high-potential projects, commitment to responsible mining practices, and experienced leadership team.
Focused on silver and gold projects in the Americas, Pinnacle is strategically placed to capitalize on the growing demand for these valuable resources. Its core projects include the high-grade El Potrero gold-silver project in Mexico, and the Argosy gold mine and North Birch gold project in Ontario’s Red Lake District – each offering near-term development potential and strong exploration upside.
Pinnacle’s current flagship project, El Potrero, is located within the Sierra Madre Gold Silver Trend.
The company's investment appeal stems from several key factors:
- A robust pipeline of projects at various stages of exploration and development
- Strategic focus on high-potential areas in North and South America
- Effective capital management practices
- Aggressive expansion strategy through strategic acquisitions
The company’s business strategy involves the acquisition of past-producing mines that can be put back into production quickly to generate cash flow. By focusing on high-grade, underground mines, Pinnacle can leverage low capex, a smaller operational footprint, easier and faster permitting process and protection against metal price volatility. At the same time, the company conducts brownfield exploration for resource expansion, increasing its potential for district-scale discovery.
Pinnacle's emphasis on creating shareholder value is evident in its approach to project selection and development. The company's portfolio is carefully curated to balance near-term production potential with long-term growth prospects, offering investors exposure to both immediate returns and future upside.
Company Highlights
- Pinnacle Silver and Gold is a Canada-based exploration and development company dedicated to building long-term shareholder value with its silver- and gold-focused assets in North and South America.
- The company’s flagship El Potrero gold-silver project, located in Mexico’s Sierra Madre Belt, has returned exceptional underground sample grades up to 85.1 grams per ton (g/t) gold and 520 g/t silver, with exploration potential across a 1.6 km strike length.
- The 100-percent-owned Argosy gold mine and North Birch project are located in the Red Lake District in Northwestern Ontario, a region famous for gold production and high-grade underground mines.
- The company’s strategy is to generate near-term production from past-producing assets while growing its resource base through modern, brownfields exploration.
- Pinnacle is led by a highly experienced management team with a successful track record in advancing exploration-stage assets through to production.
Key Projects
El Potrero Gold-Silver Project
El Potrero is a high-grade, past-producing gold-silver project located in the prolific Sierra Madre Belt in Mexico, within 35 km of four operating mines, including Fresnillo’s 4,000 tpd Ciénega Mine. The project comprises two concession blocks totaling 1,074 hectares, which include the historic mines and a 100 tpd on-site processing plant.
Recent Developments (as of July 2025):
- Over 600 rock samples have been collected from underground and surface sources for geochemical analysis.
- Channel sampling at the Pinos Cuates mine returned assays of up to 85.1 g/t gold and 520 g/t silver over 0.5 m, and composite intervals of 50.3 g/t gold and 269 g/t silver over 1.7 m.
- Geological interpretation highlights a significant quartz-feldspar porphyry dyke as a structural control on gold-silver mineralization.
- The Dos de Mayo vein system has been mapped over 1.6 km with trench and underground samples showing high-grade mineralization, including 13.2 g/t gold and 2,280 g/t silver from surface grab samples.
- Work is underway to design an underground and surface drill program to define continuity and guide future mine development.
- A site inspection of the 100 tpd plant confirmed that the base infrastructure is sound. Refurbishment of key equipment (crusher, mill, Merrill Crowe circuit) is being planned.
- Permitting efforts are progressing efficiently, aided by the site's historical disturbance. Baseline studies and formal permitting proposals are underway.
Pinnacle can earn an initial 50 percent interest upon production and increase its ownership of El Potrero to 100 percent subject to a 2 percent NSR, primarily through cash flow-funded payments, offering a low-dilution path to full ownership.
Argosy Gold Mine
Located within the Birch-Uchi Greenstone Belt in Ontario’s Red Lake District, and approximately 10 km from First Mining’s Springpole deposit, the Argosy gold mine produced 101,875 ounces at 12.7 g/t gold from 1931 to 1952. Pinnacle owns 100 percent of the project, subject to a 2.5 percent NSR.
Exploration Highlights:
- Past drilling intersected high-grade mineralization, including:
- 14.67 g/t gold over 1.7 m (No. 3 Vein)
- 12.02 g/t gold over 1.29 m (No. 8 Vein)
- 11.75 g/t gold over 1.55 m (No. 2 Vein)
- The project offers strong depth potential, with 2002–2004 drilling intersecting multiple new veins and gold mineralization extending to 400 m vertical depth.
North Birch Gold Project
Located 4 km from the Argosy Mine, North Birch is a 3,850-hectare grassroots project with major upside. The property lies in an underexplored section of the Birch-Uchi Belt and covers a folded and sheared iron formation, interpreted as analogous to Newmont’s Musselwhite Mine.
Exploration Work:
- LiDAR surveys and IP geophysics have revealed 8+ km of structural breaks with multiple drill targets.
- 2022 drilling intersected anomalous gold and copper mineralization within structurally deformed and altered iron formations, confirming the favorable structural setting
Management Team
Robert Archer - President, CEO and Director
Robert Archer has more than 40 years’ experience in the mining industry, working throughout the Americas. After spending more than 15 years with major mining companies, Archer held several senior management positions in the junior mining sector and co-founded Great Panther Mining, a mid-tier precious metals producer, where he served as president and CEO from 2004 to 2017 and director until 2020. He joined Pinnacle as a director in March 2018 followed by his appointment as CEO in January 2019 and president in October 2021. Archer is a professional geologist and holds an Honours BSc from Laurentian University in Sudbury, Ontario.
David Cross - CFO
David Cross is a CPA and CGA with over 21 years’ experience in the junior sector with a focus on finance and corporate governance. He is currently a partner of Cross Davis and Company LLP Chartered Professional Accountant, which specializes in accounting and management services for private and publicly listed companies within the mining industry, and has recently been appointed CFO of Ashburton Ventures.
Colin Jones - Independent Director
Colin Jones is principal consultant for Orimco Resource Investment Advisors in Perth, Australia. He has almost 40 years’ experience as a mining, exploration and consulting geologist in a number of different geological environments on all continents. He has managed large exploration and due diligence projects, and has undertaken numerous bankable technical audits, technical valuations, independent expert reports and due diligence studies worldwide, most of which were on behalf of major international resource financing institutions and banks. Jones holds a Bachelor of Science (Earth Sciences) degree from Massey University, NZ.
David Salari - Independent Director
David Salari has worldwide experience in the design, construction and operation of extractive metallurgical plants. He is an engineer with more than 35 years of experience in the mining and mineral processing field. He is currently the president and CEO of DENM Engineering.
Ron Schmitz - Independent Director
Ron Schmitz is the principal and president of ASI Accounting Services, providing administrative, accounting and office services to public and private companies since July 1995. Schmitz has served as a director and/or chief financial officer of various public companies since 1997, and currently holds these positions with various public and private companies.
