Metal Tiger PLC Drilling Commenced in Spain on Gold & Tungsten JV (4682L)
April 28 2015 - 2:01AM
UK Regulatory
TIDMMTR
RNS Number : 4682L
Metal Tiger PLC
28 April 2015
METAL TIGER PLC
28 April 2015
Metal Tiger plc
("Metal Tiger" or the "Company")
Drilling Commenced in Spain on Gold & Tungsten JV
Metal Tiger (LON: MTR), the natural resources investing company
is pleased to announce the commencement of drilling at its Logrosan
Gold and Tungsten JV project in Extremadura, Spain.
Highlights:
-- Dando Terrier Rotary Air Blast (RAB) Inclined Drilling Rig arrived and now operational;
-- LM001 the first hole of planned 5,000 metre programme completed;
-- Drilling will initially target the tungsten anomalies, moving
to the gold anomalies further in the programme;
-- The commencement of the drilling programme, the sampling
procedures and protocols have been agreed in conjunction with the
Metal Tiger's qualified geologist - Chairman Terry Grammer;
-- Further regular news updates to follow as ground exploration proceeds.
Cameron Parry CEO of Metal Tiger stated: "Metal Tiger is
delighted to confirm the commencement of drilling operations at our
gold and tungsten JV in Spain. Our JV partners and their team have
demonstrated an efficient and professional approach to the
exploration process and the incorporation of this drilling
programme into their field work.
For this project, recognising the extent of historical work, the
best exploration approach is to incorporate drilling at this stage
and we are looking forward to the results from this programme.
Metal Tiger continues to proactively progress its Direct
Projects division of which Spain is a key element. The Company is
also active with ground operations in Thailand and looks forward to
updating the market with respect to the work being undertaken there
to identify precious and strategic metal mineralisation."
Spain JV Drilling Program Detailed Information:
The project took delivery of a new Dando Terrier tracked rotary
air blast (RAB) drilling rig on Thursday 23(rd) April 2015.
Following drill commissioning and site preparation the maiden drill
hole (LM001) was completed on Saturday 25(th) April. The planned
programme consists up to 5,000m of inclined drilling designed to
test surface geochemical and geophysical anomalies at depth.
Drilling will be split between two seasons, April to end June and
September to December, with a break over the hottest part of the
year. The Dando Terrier is a compact, track mounted drill rig
fitted with a mast dump for inclined drilling up to 45 degrees from
vertical.
The drilling has commenced on Target 2, the tungsten anomaly
located close to Logrosan town. LM001 is located on the first of
three planned profiles perpendicular to an elongated zone of
elevated tungsten in soil anomalies and structure identified by
ground magnetics. Holes are expected to average 30m in depth
dependant on specific target and drilling conditions. A total of 12
drill profiles are planned, the first six to test for tungsten
mineralisation, the latter six will target gold mineralisation.
Upon completion of the planned profiles infill drilling will depend
on results.
Samples are collected over two metre intervals and are riffle
split to produce sample for analysis, a duplicate and a sieved
course fraction. Samples are analysed initially using a Inovex XRF;
where mineralisation is encountered samples will be batch analysed
by ALS Laboratories in Seville, Spain.
The method of drilling and sampling is deemed appropriate for
the stage and goals of the exploration programme. The commencement
of the drilling programme, the sampling procedures and protocols
have been agreed and reviewed onsite in conjunction with Metal
Tiger's qualified geologist.
Target 2 is characterised by four sub-parallel tungsten
anomalies (in an area 1.2km by 1km) superimposed over an arsenic
anomaly and structures interpreted from the magnetic geophysics.
Channel sampling in a trench cross-cutting one of these anomalies
has confirmed hard-rock tungsten mineralisation ranging 581-1805
ppm.
Previous Work conducted by Metal Tiger's JV partners
Over the past 18 months, Metal Tiger's joint venture partners in
Logrosan Minerals Ltd have carried out more than 40,000 soil
samples, hundreds of pan-concentrate samples, covered thousands of
linear kilometres with ground magnetic survey and assessed
electro-magnetic tomography.
The presence of Tungsten mineralisation has been confirmed by
soil sampling, outcrop sampling, trenching and historical drill
holes. Gold mineralisation has been confirmed by pan-concentrate
and findings to date delineate three significant anomalies, being
one square kilometre each.
Logrosan Minerals Limited
Logrosan Minerals Limited is a special purpose joint venture
vehicle owned by by Metal Tiger Plc and Mineral Exploration Network
(Finland) Ltd. Logrosan Minerals Limited is the operating company
for the Logrosán Exploration Project.
Mr Nick O'Reilly (MSc, DIC, MAusIMM, FGS), is a qualified
geologist who meets the criteria of a qualified person under the
AIM Rules - Note for Mining and Oil & Gas Companies, has
visited the Project Area, and reviewed the technical information
contained within this announcement. Mr O'Reilly is a consultant
working for Mining Analyst Consulting Ltd which has been retained
by Metal Tiger PLC to review the work undertaken on the Logrosán
Exploration Project.
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)
Nick Emerson SI Capital Limited Tel: +44 (0) 1483
Andy Thacker (Sole Broker) 413 500
This information is provided by RNS
The company news service from the London Stock Exchange
END
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