TIDMMTR
Metal Tiger PLC
17 February 2016
Metal Tiger Plc
17 February 2016
Metal Tiger Plc
("Metal Tiger" or the "Company")
Botswana - Target Drilling Commences
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed
investor in strategic natural resource opportunities is pleased to
announce target drilling has commenced in the Kalahari Copper Belt
Project, Botswana, held with Joint Venture ("JV") partners MOD
Resources (ASX:MOD).
Readers wishing to understand the background to Metal Tiger's
interests in Botswana are advised to review our announcement on 16
December 2015 confirming the acquisition of licence interests. This
announcement can be viewed through the following link:
http://www.metaltigerplc.com/index.php/investors/latest-news/418-botswana-kalahari-copper-belt-licences-acquired-20151216t0700
Highlights:
-- MOD and Metal Tiger Plc have commenced Phase 1 drilling at
the first target "T4" (Aphrodite Prospect) to be tested on the
recently acquired DMI licences;
-- The T4 drilling will follow up previous DMI widely spaced
intersections including 4m @ 2.6% Cu & 40g/t Ag from 81m depth
in drill hole APRC 2790 and 7.0m @1.5% Cu & 23g/t Ag from 69.5m
depth in drill hole APDD3301 (Refer to DML ASX Announcement
6.2.13.);
-- Drilling is then planned to test other targets including "T2"
(Mahumo East), "T3" (Mahumo South), "T6" (Molelo-Ourea), "T9" (New
Target) and "T10" (Fold Nose);
-- Confirmation surface sampling in the Mahumo region is also
progressing well. Assay results are awaited from infill sampling of
two large (>5km) Cu anomalies at T3 and T6.
Paul Johnson, Chief Executive Officer of Metal Tiger said "we
are very pleased to confirm the formal commencement of drilling at
the Company's JV with MOD Resources. Recognising the importance of
our Botswana interests, the Company's Chairman Terry Grammer was on
site yesterday to review the drilling programme.
The scale and potential of the Kalahari Copper Belt are
significant and we are particularly enthused by the numerous high
priority targets that MOD have identified, certain of which are
included in this initial drill programme.
We will be working with MOD Resources to receive and interpret
the data received from this programme, along with that from the
surface sampling being undertaken concurrently. Results will be
released to market at the earliest opportunity."
Drilling Programme Information:
Metal Tiger is pleased to advise that RC drilling has commenced
on the first of a number of targets planned to be tested during the
March quarter. Depending on results from this initial drilling
phase, certain targets are expected to be selected for deeper
diamond drilling. Diamond drilling is also planned to test for
resource extensions to 600m depth (Stage Two) below MOD's high
grade Mahumo deposit.
Concurrent with the Phase 1 drilling, a substantial surface
sampling campaign is also underway to infill and potentially extend
known Cu anomalies interpreted to occur in a number of structural
settings with strong similarities to known deposits elsewhere in
the Kalahari Copper Belt. These targets include T3, T6, T7 and T9
where there is minimal or no drilling to date.
The objective of the infill sampling is to assist in defining
specific drill targets below sand cover. Locations of 10 targets
and anomalies are shown in Figure 1 within the MOD Resources ASX
announcement, a link to which is provided below.
Metal Tiger and MOD Resources are awaiting first assay results
from the surface sampling completed at T3 and T6 and will provide
an update to shareholders once results are received and
interpreted.
MOD Resources - ASX Announcement:
MOD Resources have also released an announcement detailing the
above and providing a location map and photograph of the drill
site. This ASX update announcement can be reviewed via the formal
ASX news release section at:
http://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=mod&timeframe=Y&year=2016
The ASX announcement can also be reviewed in due course on MOD
Resources website at:
http://www.modresources.com.au/#!asx-announcements/coaj
For further information on the Company, visit:
www.metaltigerplc.com:
Paul Johnson Tel: +44 (0)7766
(Chief Executive 465 617
Officer)
Terry Grammer Tel: +44 (0)207
(Non- Executive 099 0738
Chairman)
Sean Wyndham-Quin Spark Advisory Partners Tel: +44 (0) 2033
Neil Baldwin Limited 683 555
Nick Emerson (Nominated Adviser) www.sparkadvisorypartners.com
Andy Thacker SI Capital Tel: +44 (0) 1483
(Sole Broker) 413 500
Notes to Editors:
Metal Tiger plc is a natural resources focused investing company
quoted on the London Stock Exchange AIM Market ("AIM") with the
trading code MTR and two investment divisions, Direct Projects and
Direct Equities.
The Direct Projects division invests in mineral exploration
projects operated by trusted partners on the ground. Projects are
selected for their strategic significance in terms of commodity,
location and commerciality factors. Key strategic investments to
date include Spanish Gold & Tungsten, Thai Gold, Copper &
Antimony, and Botswanan Copper & Silver.
The Direct Equities division invests in quoted natural resource
explorers and developers, with a combination of shares and warrants
and seeks generate trading profits for reinvestment into the Direct
Projects division.
Metal Tiger's target is to deliver a very high return for
shareholders by investing in significantly undervalued and/or high
potential opportunities in the mineral exploration and development
sector timed to coincide where possible, with a cyclical recovery
in the exploration and mining markets.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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