MetalsTech (MTC) says it's progressing well with its maiden drilling program at the wholly-owned Sturec Gold Mine in Slovakia
The first hole is currently at a depth of over 100 metres and is planned to continue to 350 metres
Approximately 110 metres into the hole, the company is expecting to hit the exploration target zone, where it haspreviously interpretedhigh-grade gold mineralisation extends down plunge from drill hole STOR 3.11
Meanwhile, the COVID-19 pandemic has been felt throughout the Slovakia economy, despite the country's low case numbers compared to its European neighbours
Slovakia's Gross Domestic Product is expected to fall by nine per cent and the unemployment rate is expected to rise to 10 per cent in 2020
These circumstances, combined with the high gold price, provides MetalsTech with confidence the country will welcome a sustainable gold mining operation
MetalsTech is up 12.8 per cent on the market today and is trading for 26.5 cents per share