TIDMMTR
RNS Number : 6487Q
Metal Tiger PLC
01 March 2016
Metal Tiger Plc
01 March 2016
Metal Tiger Plc
("Metal Tiger" or the "Company")
LITHIUM-TANTALUM MEMORANDUM OF UNDERSTANDING
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed
investor in strategic natural resource opportunities is pleased to
announce the Company has signed a Memorandum of Understanding
("MoU") with Ariana Resources plc (LON:AAU) for the review,
exploration and development of lithium-tantalum opportunities in
the Malay Peninsula, and specifically within Thailand and
Myanmar.
Highlights:
-- Initial work undertaken by both Metal Tiger's Thai JV
operating partners and Ariana Resources technical teams indicate
substantial lithium-tantalum prospectivity in the Malay
Peninsula.
-- Metal Tiger and Ariana Resources to collaborate on
lithium-tantalum projects specifically in Thailand and Myanmar
under an MoU and informal 50:50 Joint Venture ("JV").
-- A formal lithium JV structure will be adopted once specific
projects are secured, although both companies have the right to
assign their interests in the MoU to other group companies or to
third parties at any time.
-- Metal Tiger's Thai JV operating partners are undertaking a
detailed review of Thailand lithium prospectivity and have
identified numerous targets for further investigation.
-- Licence applications over suitable targets will be submitted
by Metal Tiger's Thai JV operating partners and notified to the
market when granted.
-- Subject to licencing, the market will be notified of planned
work programmes and the outcome of material work undertaken.
Paul Johnson, Chief Executive Officer of Metal Tiger plc
commented: "We are delighted to sign this MoU with Ariana Resources
who have very recently demonstrated an ability to crystallise
commercial value from lithium interests, as demonstrated by their
86% held subsidiary Asgard Metals Pty Ltd selling a package of
tenements in Australia to ASX Listed Dakota Minerals Limited
(ASX:DKO), completion of which was announced on 23rd February
2016.
The Metal Tiger Thai JV team have longstanding experience of
working in Thailand and the team includes geologists with an
understanding of the potential lithium-tantalum prospectivity in
country. The work undertaken to date reviewing this prospectivity
has highlighted numerous targets in respect of both in-situ
mineralisation and tailings that may be processed further.
We look forward to working with the Ariana Resources team to
identify and develop lithium-tantalum deposits in Thailand and
Myanmar."
Lithium Geology of the Malay Peninsular
In Thailand, lithium is associated with tin deposits located in
the southern, peninsular, part of the country along the extensions
of the Mogok-Mandalay-Mergui Belt extending from Myanmar. Tin,
along with tungsten, tantalum and niobium, is found in pegmatite
veins associated with granitic intrusions of Jurassic to Cretaceous
age in the Phuket Mineral Belt and the Phetcharburi Mineral Belt.
Lepidolite appears to be the dominant lithium-bearing mineral in
the Thai pegmatite systems. In Myanmar, lithium is associated with
petalite-, spodumene- and lepidolite-bearing pegmatites associated
with the dominant tin-tungsten belt; the Mogok-Mandalay-Mergui Belt
and Mogok Metamorphic Belt. However, these areas are poorly
explored by modern methods and represent significant exploration
potential.
Lepidolite (a mica) and other lithium-bearing minerals are
concentrated in the latest stage of fractionation from highly
volatile melts associated with the parent granite intrusion as it
cools. Therefore, lithium minerals are usually found in pegmatite
veins towards their margins, somewhat beyond the zones in which tin
and tungsten minerals are found most highly concentrated.
Consequently, concentrations of lithium may be found in the
extensions of pegmatite veins previously mined for tin where
operations ceased due to lower tin grades. Due to differential
zoning, lithium grades might be higher in these sections than in
the sections mined for tin.
Lithium has never been recovered as a by-product of the once
substantial tin producing industry in Thailand because it had not
been economic to do so previously. Therefore, tailings from
historical tin mining operations may be expected to contain
significant amounts of lithium. Furthermore, pegmatite veins not
previously exploited for tin, in these areas, could provide
prospective exploration targets.. In addition to primary pegmatite
deposits, tin is often found and mined in placer deposits but as a
light mineral, lithium-bearing lepidolite would not be expected to
be found alongside tin in this depositional environment.
The technical information contained in this disclosure has been
read and approved by Mr Nick O'Reilly (MSc, DIC, MAusIMM, FGS), who
is a qualified geologist who meets the criteria of a qualified
person under the AIM Rules - Note for Mining and Oil & Gas
Companies. Mr O'Reilly is a consultant working for Mining Analyst
Consulting Ltd which has been retained by Metal Tiger PLC to
provide technical support.
For further information on the Company, visit:
www.metaltigerplc.com:
Paul Johnson Tel: +44 (0)7766
(Chief Executive 465 617
Officer)
Terry Grammer Tel: +44 (0)207
(Non- Executive 099 0738
Chairman)
Sean Wyndham-Quin Spark Advisory Partners Tel: +44 (0) 2033
Neil Baldwin Limited 683 555
Nick Emerson (Nominated Adviser) www.sparkadvisorypartners.com
Andy Thacker SI Capital Tel: +44 (0) 1483
(Sole Broker) 413 500
Notes to Editors:
Metal Tiger plc is listed on the London Stock Exchange AIM
Market ("AIM") with the trading code MTR and invests in high
potential mineral projects with a precious and strategic metals
focus.
The Company's target is to deliver a very 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. The Company's key strategic
objective is to ensure the distribution to shareholders of major
returns achieved from disposals.
Metal Tiger's Metal Projects division is focused on the
development of its key project interests in Botswana, Spain,
Thailand and Tanzania. In Botswana Metal Tiger has a growing
interest in the large and highly prospective Kalahari copper/silver
belt. In Spain Metal Tiger the Company has interests in tungsten
and gold interests in the highly mineralised Extremadura region. In
Thailand Metal Tiger has expanding interests over licences,
applications and critical historical data covering antimony,
copper, gold, silver, lead and zinc opportunities.
The Company has access to a diverse pipeline of new
opportunities focused on the natural resource sector including
physical resource projects, new natural resource centred
technologies and resource sector related fintech opportunities.
Pipeline projects deemed commercially may be undertaken by Metal
Tiger or by an ISDX or AIM partner with whom the Company is
engaged.
Metal Tiger also has an Asset Trading Division that holds
various financial instruments for trading purposes including
equities, warrants and royalty income. The aim of the division is
to generate profits to reinvest into the Company's project based
activities.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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