Michael McNeilly, Chief Executive Officer of Metal Tiger, commented: “We are pleased to report the JV strategy to seek to add further value at T3 and our wider holdings in the Kalahari Copper Belt in Botswana.
It is anticipated that this will be achieved through the planned exploration work as we seek to discover new copper deposits as well as through the delineation of additional JORC Resources from known prospects which offer the potential to provide throughput to the planned T3 Open-Pit Processing Plant.
We believe that further resource definition around the T3 project, as per today’s announced work programme, is an easy and low-risk opportunity to increase the value of Metal Tiger’s portfolio of assets in the Kalahari Copper Belt.”
Botswana Copper/Silver Project – T3 Project & Regional Exploration Programme Plan
Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to provide an update on planned exploration work for the licence areas held in joint venture (“JV”) with MOD Resources Limited (“MOD”) (30% Metal Tiger: 70% MOD) and for the 100% MOD held T3 Copper Project (“T3”), in the Kalahari Copper Belt, Botswana.
The planned work programmes are part of a proposed wider growth strategy to add substantial value by systematically building mineral resources in potential T3 satellite deposits, with the aim of building a pipeline of satellite mines to leverage planned T3 infrastructure and provide increased and supplementary production throughput to the planned T3 Processing Plant. MOD and their advisers continue to advance a range of funding options towards a decision to mine T3, with interested parties.
Planned high priority work targets include:
- T20 Exploration Project (JV held), staged reverse circulation (“RC”) drilling and diamond core (“DD”) drilling at
T23 Dome, 100km west of T3. Follow-up drilling, nine RC and four DD holes, along 4km of T23 Dome, commencing early May 2019;
- T3 Expansion Project (JV held)
- A4 Prospect, on 5km long A4 Dome, located 8km from T3. Staged drilling, six RC and one DD holes, planned to build out from hole MO-A4-003D, which intersected 52m @ 1.5% Cu & 14g/t Ag from 232m, including 15.5m @ 2.9% Cu & 42g/t Ag from 269m (announced on 6 August 2018), with the aim of preliminary JORC Resource definition in second half of 2019.
- Numerous potential drilling targets identified within 25km radius of planned T3 Open-Pit Processing Plant, from geophysical and geochemical survey anomalies; andT3 Copper Project (100% MOD held)
- Resource drilling for T3 Underground Project (below planned open-pit). Initial 16 DD holes, followed by further infill drilling, planned for JORC Resource definition, with work expected to commence early June 2019.
Further information on the planned work by target is detailed HERE
This announcement coincides with an update released today by MOD which can be viewed through the following link: https://www.asx.com.au/asx/share-price-research/company/MOD
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