Metal Tiger PLC Spanish Gold & Tungsten Joint Venture Update (7970H)
March 18 2015 - 9:23AM
UK Regulatory
TIDMMTR
RNS Number : 7970H
Metal Tiger PLC
18 March 2015
Metal Tiger plc
("Metal Tiger" or the "Company")
Spanish Gold & Tungsten Joint Venture Update
Metal Tiger (LON: MTR) the London Stock Exchange AIM listed
natural resource investing company, is pleased to report on initial
developments of its Gold and Tungsten-focused Joint Venture ("JV")
in Spain.
Highlights:
-- Initial cash payment made, formally commencing funding in
line with the Joint Venture agreement;
-- Initial Metal Tiger funding used to acquire Drill Rig;
-- Exploration activities expected to commence on the ground in April 2015.
Metal Tiger is pleased to announce that following completion of
the Joint Venture with Logrosan Minerals Ltd (announced 16 March
2015) the Company has now commenced funding in line with the Joint
Venture agreement. First payment of funding formally signals the
start of Joint Venture operations.
As part of the 2015 planned exploration programme the Joint
Venture partners have applied the initial funding by Metal Tiger to
securing an in-house drilling capability through the purchase of a
Hydraulic Rotary Drill Rig. This Drill Rig, obtained new and at
modest capital outlay, provides operational flexibility to the
ground explorations team in Spain for efficient rotary air blast
and core drilling.
Metal Tiger's CEO, Cameron Parry, commented: "Metal Tiger has
expeditiously delivered first funding under its Spanish Joint
Venture to support early ground operations. The approach taken
through these initial steps is in line with the Joint Venture
objective to rapidly increase data on the extent of gold and
tungsten mineralisation within the targeted area. This also enables
Metal Tiger to report on exploration results over the near-term.
Further announcements will follow as developments occur."
For further information on the Company, visit:
www.metaltigerplc.com:
Cameron Parry Tel: +44 (0)207
(CEO) 099 0738
Paul Johnson Tel: +44 (0)7766
(Executive 465 617
Director)
Sean Wyndham-Quin Spark Advisory Partners Tel: +44 (0) 2033
Neil Baldwin Limited 683 555
(Nominated Adviser)
This information is provided by RNS
The company news service from the London Stock Exchange
END
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