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Metal Tiger Plc

Metal Tiger plc latest batch of drill core assays returning significant intersections.

Metal Tiger plc (LON:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, gave DirectorsTalk an update regarding the Company’s Joint Venture project with partner MOD Resources Limited (ASX:MOD) in the Kalahari Copper Belt in Botswana (70% MOD Resources/30% Metal Tiger). Metal Tiger also holds 95,543,934 MOD shares, equivalent to 5.044% of MOD’s issued share capital and 1,541,667 MOD warrants at an exercise price of 6 cents (Australian).

Michael McNeilly Chief Executive Officer of Metal Tiger commented:  “The latest batch of drill core assays from our T3 Copper/Silver project continue to build on the potential of the deposit.With all six holes returning significant intersections and higher-grade zones, from outside the confines and along strike of the current pit shell, the potential for future mining, be that open-pit or open-pit and underground, continues to grow. The reinterpretation of airborne geophysics in conjunction with the latest understanding of the geology derived from drilling results has generated a three-dimensional model of the T3 mineralisation host sequence for drill testing.With a potential 11km of resulting 3D model strike length to be tested, we are excited by the potential of finding further, as-yet hidden, copper mineralisation.

We look forward to providing further exciting updates as the various work streams continue towards the scheduled Prefeasibility Study findings in December.”


Highlights:

 
 
    -- Drill core assays along strike from planned T3 open pit confirm

high-grade vein intersections and build confidence in the conceptual

underground mining potential.

 
    -- Mineralised veins now appear to be continuous over an enlarged 1,400m

strike length.

 
    -- Headline intersections from the 6 holes received include:

Hole MO-G-80D

4.5m @ 4.0% Cu & 65 g/t Ag from 254m near western limit

of drilling.Hole MO-G-81D

11.0m @ 1.5% Cu & 19 g/t Ag from 186m near eastern

limit of drilling.

 
    -- Re-interpretation of Airborne Electromagnetic (AEM) geophysics data

with three-dimensional (3D) modelling suggests the 200-300m thick T3

mineralisation host sequence may continue along strike for up to 11km.

Drilling to test the model has commenced.


 

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.