Metal Tiger plc (LON:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to provide an update regarding the Company’s Joint Venture (“JV”) project with partner MOD Resources Limited (ASX:MOD) (“MOD”) in the Kalahari Copper Belt in Botswana (70% MOD Resources/30% Metal Tiger).
- Botswana Department of Environmental Affairs has approved Environmental Management Plan (EMP) for drilling part of T20 Dome Complex.
- EMP covers drilling within a circa 700km2 area in the northern part of the T20 Dome Complex, approximately 80km west of the T3 Dome Complex.
- Diamond core drilling planned to commence in Q4 2018 subject to a four-week public review period starting 21 September 2018.
First planned drill targets are:
- T4 Dome, T4 Prospect where previous reverse circulation drilling intersected 2m @ 6% Cu & 111g/t Ag from 101m depth (announced 1 April 2016) and soil sampling and airborne electromagnetic (EM) geophysics data has defined a conductive structure coincident with a 5-6km long copper anomaly (announced 16 April 2018); and
- T23 Dome, 15km west of T4 Prospect, the interpreted continuation of the EM conductive structure extending from T4 through the interpreted T23 Dome.
- Current 940km2 airborne EM survey over the T20 Dome (announced 4 September 2018) linking three previously flown EM blocks, is also extending over the T17 and T7 target areas, north and south of T20 respectively.
- 6 drilling rigs are now operating at the A4 Dome with assay results awaited from several significant intersections.
Michael McNeilly Chief Executive Officer of Metal Tiger commented:
“We are very pleased to announce the receipt of the Environmental Management Plan (EMP) approval for the planned drill programme within the A20 Dome Complex. Subject to a statutory four-week public review period, this approval will allow for diamond drilling to commence over the T4 Prospect, a strong copper anomaly, where previous RC drilling in early 2016 intersected shallow high-grade copper and silver mineralisation, only superseded by the discovery of T3.
We are excited at the prospect that T4 and the wider T20 Dome Complex will yield further high-grade intersections and are eager to apply the team’s technical knowledge to the discovery of further copper deposits in this part of the emerging copper belt”.
This announcement coincides with an update released today by MOD which can be viewed through the following link:
The technical information contained in this disclosure has been read and approved by Mr Nick O’Reilly (MSc, DIC, MAusIMM, FGS), who is a qualified geologist who acts as the Competent Person under the AIM Rules – Note for Mining and Oil & Gas Companies. Mr O’Reilly has visited the T3 site and reviewed MOD’s drilling and sampling protocols and procedures. Mr O’Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Metal Tiger PLC to provide technical support.
In addition to its 30% interest in the JV, Metal Tiger holds 13,974,220 MOD shares, equivalent to 6.1 % of MOD’s issued share capital and 154,167 MOD options each exercisable price of 6 cents (Australian) on or before 15 April 2019.
For further information on the Company, visit: www.metaltigerplc.com
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