MetalsTech secures 10-year extension for Sturec Gold Mine permit

MetalsTech Limited (ASX: $MTC) has successfully obtained a 10-year extension for the underground mining activity permit (No. 2440-3935/2023) for its 100%-owned Sturec Gold Mine in Slovakia. The extension represents a significant de-risking to the permitting pathway at Sturec, allowing the company to advance as a high-value underground-only mining operation. The Permit is valid from 2024 to 2034 and enables MTC to extract gold and silver ores using underground mining techniques.

Executive Commentary on Permit Extension

The granting of the extension to the underground mining activity permit is a significant milestone for MetalsTech. It de-risks the project development at Sturec and strengthens our strategic position. We are pleased with the progress and will continue with our program of bulk-scale metallurgical and mineralogical test work. The strong interest received from European and North American counterparties, along with the site visits planned, reflects the growing global interest in the Western Tethys Gold Belt in Europe, where Sturec is strategically located.

Summary of Sturec Gold Mine Permit Extension

MetalsTech Limited (ASX: $MTC) has achieved a major milestone with the 10-year extension of the underground mining activity permit for its Sturec Gold Mine in Slovakia. The extension significantly de-risks the project development and strengthens the company's strategic position. With the permit valid until 2034, MetalsTech can now proceed with its plans for a high-value underground-only mining operation. The company will also continue its program of bulk-scale metallurgical and mineralogical test work. The strong interest from European and North American counterparties, coupled with the growing global interest in the Western Tethys Gold Belt, bodes well for the future prospects of Sturec. MetalsTech will further advance its negotiations with Trans Metal Fund LP in light of this significant milestone.