Metal Tiger PLC Operational Update - Spain (5144V)
August 10 2015 - 2:00AM
UK Regulatory
TIDMMTR
RNS Number : 5144V
Metal Tiger PLC
10 August 2015
METAL TIGER PLC
10 August 2015
Metal Tiger plc
("Metal Tiger" or the "Company")
Operational Update - Spain
Metal Tiger (LON: MTR), the natural resources investing company
is pleased to announce an update with regard to Tungsten and Gold
exploration operations at the Company's Joint Venture in
Extremadura, Spain.
Readers are advised to refer to previous announcements made by
the Company in respect of the 2015 exploration work undertaken by
the Joint Venture, the most recent of which was released on 16 July
2015.
Highlights:
- Metal Tiger has now paid EUR250,000 out of the EUR500,000
total 2015 commitment in order to earn into a 50% holding in
Logrosán Minerals Limited which holds the interest in the Logrosán
project;
- Recommencement of drilling operations is anticipated to take
place as scheduled in early September 2015;
- Advance planning for drill recommencement underway including
ordering of drill rods, spare parts and relevant consumables;
- Further investment made in New XRF - Delta Premium Geochem
Analyser, including gold element analysis, to further accelerate
field operations.
Cameron Parry, CEO of Metal Tiger plc commented "Recognising the
substantial progress made in the field with our pre-summer
exploration programme for Tungsten within Extremadura, we are
delighted to confirm the recommencement of operations remains on
schedule. The Joint Venture's work post-summer will include
drilling to identify further tungsten mineralisation, but also gold
mineralisation in certain target areas.
Metal Tiger has now paid half of its expenditure commitment in
respect of our Spanish Joint Venture agreement and is delighted
with the results to date. In order to expedite operations, earlier
this year the Joint Venture acquired its own drill rig and it has
proven to be a highly valuable investment. We have added to our
equipment with a new XRF which will further improve operational
efficiency in the field.
Metal Tiger remains highly active during the traditional summer
recess both advancing its existing projects and in due diligence
work and general investigation of new opportunities. We are keen to
ensure all potential new opportunities are thoroughly assessed and
appropriately commercial transactions agreed. We expect to update
the market in respect of a number of areas of our business in the
very near term."
For further information on the Company, visit:
www.metaltigerplc.com:
Metal Tiger Plc
Cameron Parry (CEO) Tel: +44 (0)207 099
0738
Paul Johnson (Executive Director) Tel: +44 (0)7766 465
617
Spark Advisory Partners Limited Tel: +44 (0) 2033
(Nominated Adviser) 683 555
Sean Wyndham-Quin
Neil Baldwin
SI Capital (Sole Broker) Tel: +44 (0) 1483
Nick Emerson 413 500
Andy Thacker
Notes to Editors:
Metal Tiger Plc is a natural resources focused investing company
quoted on the London Stock Exchange AIM Market ("AIM") with the
trading code MTR and two investment divisions, Direct Equities and
Direct Projects.
The Direct Equities division invests in quoted natural resource
explorers and developers, with a combination of shares and warrants
providing a potential non-debt financing instrument and enhanced
return potential.
The Direct Projects division invests in operational mineral
exploration projects with current investments in Spanish Gold &
Tungsten, Thai Gold, Copper & Antimony, and Tanzanian Gold and
Uranium. The Direct Projects investment division also has working
collaborations to identify new investment opportunities in Russia
(platinum focus) and Turkey (gold focus), in association with
experienced in-country partners.
Metal Tiger's target is to deliver a high return for
shareholders by investing in significantly undervalued and/or high
potential opportunities in the mineral exploration and development
sector timed to coincide where possible, with a cyclical recovery
in the exploration and mining markets.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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