TIDMMTR
RNS Number : 0239S
Metal Tiger PLC
02 July 2015
METAL TIGER PLC
2 July 2015
Metal Tiger plc
("Metal Tiger" or the "Company")
Further Assays Build on Significant Tungsten Mineralisation -
Spain
Metal Tiger (LON: MTR), the natural resources investing company
is pleased to provide an update on drilling progress and further
assay results for the Logrosán Gold and Tungsten Joint Venture
project in Extremadura, Spain.
Highlights:
-- First phase drill programme compete at Target 2, Tungsten mineralisation confirmed over a increased strike length
of 450m;
-- Anomalous tin intersections seen in 2 holes at the SW end of Target 2;
-- 17 holes completed on Target 1, drilling will recommence here in September;
-- External Assay results for 42 holes received from ALS Minerals (5 batches), remaining assays for the first part
of the drill programme expected mid-July;
-- 1,568m of the planned 5,000m (31%) drill programme complete for 82 holes;
-- When the spring drilling season is complete, drilling will recommence in September, with a planned break over the
hottest months;
-- Previously unreported stand out tungsten and tin drill hole intersections include:
o Hole LM045
Ø 2m @ 0.47% WO3 from 15.63m to 17.63m and
Ø 2.2m @ 0.25% WO3 from 25.63m to 27.85m
o Hole LM051
Ø 6M @ 0.15% SnO2 from 1.62m to 7.62m, including 2m @ 0.20%
SnO2
o Hole LM052
Ø 2.0m @ >0.09% WO3 from 1.52m to 3.52m
o Hole LM053
Ø 6.0m @ 0.25% WO3 from 1.69m to 7.69m including 2m @ > 0.60%
WO3 and
Ø 10.0m @ 0.12% SnO2 from 1.69m to 11.69m
Cameron Parry CEO of Metal Tiger commented: "Metal Tiger is very
pleased with the progress by our JV team on the Logrosán Project
during the April - June drilling season and we would like to thank
the drilling team who have worked exceptionally hard during this
period.
So far the results from Target 2 have been very promising with
450m of tungsten mineralised strike length thus far delineated, and
now two holes bearing significant tin intersections. We are looking
forward to reporting the assay results from the remaining 10 holes
on Target 2 in the near future.
We are also excited with the potential of Target 1, on the
recently approved Zorita licence which is a yet larger prospective
target, when considering the pre-drilling exploration data. We look
forward to releasing assay data from Target 1 when available.
Although at an early stage, the JV exploration work continues to
indicate the potential for a substantial Tungsten deposit at
Logrosán".
Logrosán - Summary of Progress to Date:
The Rotary Air Blast (RAB) drilling programme has progressed
well over the planned 24 April - 30 June season. Drilling
activities will now pause for the months of July and August,
recommencing start of September. As of 30(th) June, 82 holes with a
total of 1,568 metres drilled (approximately 31% of the total
planned programme) and a total of 743 drill samples have been
collected. This constitutes 65 holes / 1,300 m on 14 profiles at
Target 2 and 17 holes / 268m on 2 profiles on Target 1. Target 1 is
located in the recently granted Zorita licence area.
Holes were inclined up to 45 degrees and averaged 19m (range 10m
to 38m) in depth. The azimuth of the drill profiles is
perpendicular to the perceived mineralised trend. The depth
attained by each individual hole is largely constrained by the
level of the water table, where the level of water inflow risks the
drill tool becoming stuck the hole is terminated.
Drill samples are typically 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
an Inovex XRF (the internal assay); where mineralisation is
encountered samples are batch analysed by ALS Minerals laboratory
("ALS") in Seville, Spain (the accredited external assay).
Upon receipt at ALS, samples are weighed, crushed, split and
pulverised to 85% < 75microns and then analysed using the Trace
Level XRF Analysis (ME-XRF05) package, reporting tin and tungsten
in parts per million (ppm). The Tungsten ppm assay is multiplied by
1.2611 to obtain an equivalent WO3 grade which is expressed as a
percentage. The tin ppm assay is multiplied by 1.2696 to give SnO2
equivalent (expressed as %).
The first five batches of external results consists 164 assays
from 42 holes (selected for external analysis from a total of 489
samples) on Target 2, 10 remaining holes have samples out for
external analysis. Thus far significant intersections of tungsten
mineralisation has been intersected in 9 holes, ranging from 0.08%
to over 0.63% WO3. Including the previously reported intersections
(from holes LM001, LM002, LM003, LM008, LM012 and LM014)
significant tungsten intersections are summarised in Table 1 below,
and the significant tin intersections are outlined in Table 2
below:
Table 1: Significant Tungsten Drill Hole Intersections, Logrosán
Target 2
Hole From To Intersection WO3 Notes
ID (m) (m) Width (%)
* (m)
------- ------ ------ ------------- ------ ---------------------------
LM001 19.57 21.57 2.00 0.15
------- ------ ------ ------------- ------ ---------------------------
LM002 3.15 7.15 4.00 0.18
------- ------ ------ ------------- ------ ---------------------------
LM003 13.60 17.60 4.00 0.08
------- ------ ------ ------------- ------ ---------------------------
including 2m @ 0.49%WO3
LM008 5.52 13.52 8.00 0.32 & 0.1% SnO2
------- ------ ------ ------------- ------ ---------------------------
15.52 17.52 2.00 0.32
------- ------ ------ ------------- ------ ---------------------------
LM012 7.48 13.48 6.00 0.08 including 2m @ 0.11%WO3
------- ------ ------ ------------- ------ ---------------------------
including 2m @ > 0.63% WO3
(above tungsten detection
LM014 11.30 14.00 2.70 >0.32 limit of 5000ppm)
------- ------ ------ ------------- ------ ---------------------------
LM045 15.63 17.63 2.00 0.47
------- ------ ------ ------------- ------ ---------------------------
25.63 27.85 2.22 0.25
------- ------ ------ ------------- ------ ---------------------------
LM052 1.52 3.52 2.00 0.09
------- ------ ------ ------------- ------ ---------------------------
LM053 1.69 7.69 6.00 0.25 Including 2m @0.60% WO3
------- ------ ------ ------------- ------ ---------------------------
Table 2: Significant Tin Drill Hole Intersections, Logrosán
Target 2
Hole From To Intersection SnO2 Notes
ID (m) (m) Width (%)
* (m)
------- ----- ------ ------------- ----- --------------------------
LM051 1.62 7.62 6.00 0.15 including 2m @ 0.20% SnO2
------- ----- ------ ------------- ----- --------------------------
LM053 1.69 11.69 10.00 0.12
------- ----- ------ ------------- ----- --------------------------
* Note that drill intersection widths do not necessarily
represent the true thickness of the mineralisation as insufficient
drilling has been completed to calculate the actual dips of the
veins/structures.
With 5 of 6 batches of Target 2 assays returned the tungsten
mineralised trend currently measures 450m long striking NE -
SW.
Guidance Note: When reviewing the data above, please note that
the tungsten concentration of workable ores typically starts from
0.1% WO3.
Background to Logrosán Drilling Programme:
The planned programme consists up to 5,000m of inclined rotary
air blast (RAB) drilling designed to test surface geochemical and
geophysical anomalies at depth. Drilling is split between two
seasons, 24 April to 30 June and September to December, with a
break over the hottest part of the year. The drill rig which is
owned by the Joint Venture company is a compact, track mounted
Dando Terrier drill fitted with a mast dump for inclined drilling
up to 45 degrees from vertical. The method of drilling and sampling
is deemed appropriate for the stage and goals of the exploration
programme. The drilling programme, the sampling procedures,
protocols and results are agreed and are reviewed in conjunction
with Metal Tiger's qualified geologist.
The drilling commenced in April 2015 on Target 2, an elongated
zone of elevated tungsten in soil anomalies and structure
identified by ground magnetics in the Antonio Caño Exploration
Licence area. A total of 14 drill profiles have been completed
during the first pass drilling at this target which is
characterised by four sub-parallel tungsten soil geochemistry
anomalies (in an area 1.2km by 1km) superimposed over an arsenic
anomaly and structures interpreted from the magnetic
geophysics.
Target 1 is located within the Zorita Exploration Licence area,
it constitutes an isometric arsenic in soil anomaly 2.4km by 1.5 km
elongated in NS direction, cut by a linear Pb-Zn anomaly (NNE
orientation) with pan-concentrate gold flakes elevated on the
eastern flank of the arsenic anomaly. Selected soil samples from
the most intensive part of the As anomaly have been analysed by ALS
Laboratories, demonstrating the arsenic coincides with tungsten
over a 0.5km by 1.5km area. Study of the gold flakes in this area
show two different generations of gold with grain sizes varying up
to 2.5mm in diameter, and a generally angular form (suggesting
proximity to source).
Background to Joint Venture:
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