TIDMMTR
RNS Number : 7463Q
Metal Tiger PLC
02 March 2016
Metal Tiger Plc
02 March 2016
Metal Tiger Plc
("Metal Tiger" or the "Company")
BOTSWANA COPPER-SILVER PROJECT UPDATE
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed
investor in strategic natural resource opportunities is pleased to
announce an update in respect of the Company's Joint Venture ("JV")
with MOD Resources (ASX:MOD) ("MOD") in the Kalahari Copper
Belt.
Highlights:
-- Significant widths of visible, disseminated Cu mineralisation
intersected in first five reverse circulation ("RC") drill holes
completed at Tshimologo Prospect (Target 'T4'), 25km north of
Ghanzi Town.
-- Tshimologo occurs along the same regional structure that
hosts MOD's high grade Mahumo Cu/Ag deposit and Cupric Canyon
Capital's >2Mt Cu Zone 5 deposit.
-- The widest mineralised interval extends approximately 42m
down hole, from 65m to 107m depth in hole MO-A-04R, within an
interpreted shear zone.
-- Tshimologo is structurally complex and further drilling is
required to estimate true widths of the recent intersections. Cu
grades will be reported when assays are received.
-- Cu occurs in two distinct zones: Mahumo type sediment hosted
contact mineralisation and shear related mineralisation associated
with quartz veining.
-- The only outcrop is a 30m to 40m wide area of quartz veining
and early prospector pits within the shear zone. Samples of quartz
veins have been sent for precious metal assay.
-- Drilling is expected to resume at Tshimologo once initial
assays are received. In the meantime drilling will test two
separate targets at T2, 6km east of the Mahumo deposit.
-- Recent soil sampling has also confirmed a Cu anomaly at T3 in
the centre of the Mahumo Structural Corridor, 70km NE of
Tshimologo. Soil sampling is ongoing in several areas.
Paul Johnson, Chief Executive Officer of Metal Tiger plc
commented: "We are extremely pleased to see the progress being made
in the drilling programme both in terms of the efficiency of
operations by our JV partners and also the extent of visible
mineralisation already identified.
Given the progress achieved and the extent of mineralisation
identified we are looking forward to receipt and interpretation of
the assay results and the completion of the remainder of this stage
of the drilling programme.
Further updates will be provided to market in due course."
Further Information
Metal Tiger is pleased to announce the first five RC drill holes
(MO-A-01R to MO-A-05R) completed by MOD and Metal Tiger Plc (MTR)
at Tshimologo intersected significant down hole widths (between 5m
and 42m) of disseminated copper mineralisation. Drilling
intersected both oxide copper (malachite and chrysocolla) and
deeper sulphide copper (chalcocite and bornite) mineralization. The
drilling, logging and sampling is being managed and supervised on
the ground by MOD's General Manager Exploration (Africa) Mr Janse
van Rensburg (a JORC competent person), with the work carried out
in line with exploration best practice.
Drill Hole Collar Collar Azi Dip EOH
ID UTM East UTM North M
------------ ---------- ----------- ---- ---- ----
MO-A-01R 569707 7618720 345 -60 73
------------ ---------- ----------- ---- ---- ----
MO-A-02R 569731 7618692 345 -60 100
------------ ---------- ----------- ---- ---- ----
MO-A-03R 570128 7618742 345 -60 100
------------ ---------- ----------- ---- ---- ----
MO-A-04R 570099 7618675 160 -60 150
------------ ---------- ----------- ---- ---- ----
MO-A-05R 570133 7618582 340 -60 139
------------ ---------- ----------- ---- ---- ----
MO-A-06R 569802 7618570 160 -60 120
------------ ---------- ----------- ---- ---- ----
Table 1: Tshimologo RC drill hole collar coordinates and survey
parameters
Tshimologo is the first target to be drilled by MOD and MTR on
the recently acquired DMI licences (MOD:70%; MTR:30%) which cover
approximately 200km of the prospective structural contact between
the Namibian border and the Mahumo copper/silver deposit.
Tshimologo, which means 'Beginning"in Setswana and was previously
named 'Aphrodite' by DMI. DMI conducted limited, widely spaced
drilling at Tshimologo in 2012.
The recent holes were drilled on two traverses spaced
approximately 400m apart (Figure 1). Three holes were designed to
test the prospective hangingwall/footwall sediment contact and
three were designed to follow up previous intersections on an
interpreted shear zone 200m south of the contact.
The occurrence of visible copper mineralization in five of the
six recent drill holes suggests the potential may extend well
outside the area tested to date and that additional mineralized
zones may occur within this structurally complex area. Assays are
awaited before drilling resumes to test this potential. Further
details of drill holes MO-A-01R to MO-A-06R will be released when
assay results are reported.
Previous intersections at Tshimologo (announced by Discovery
Metals Ltd on 6 February 2013) include:
APRC 2790: 19.0m @ 1.0% Cu & 13g/t Ag, including 4m @ 2.6%
Cu & 40g/t Ag
APDD3301: 17.5m @ 0.9% Cu & 13g/t Ag, including 7m @ 1.5% Cu
& 23g/t Ag
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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