TIDMMTR
RNS Number : 6082U
Metal Tiger PLC
08 April 2016
Metal Tiger Plc
8 April 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
provide a update with regard to the receipt of further encouraging
assay results from the drilling programme at the Company's Joint
Venture project with partners MOD Resources (ASX:MOD) in the
Kalahari Copper Belt in Botswana (70% MOD Resources / 30% Metal
Tiger).
Technical highlights in respect of sample assay results for the
Target 3 (T3) Prospect and drilling programme progress are provided
below. In addition we would refer to the announcement released
today by MOD Resources which contains images and diagrams that may
assist readers in an understanding of the project and the drilling
being undertaken. This announcement can be viewed through the
following link:
http://search.asx.com.au/s/search.html?query=mod&collection=asx-meta&profile=web
Paul Johnson Chief Executive Officer of Metal Tiger plc
commented "I am pleased to present the latest exploration data from
our work in Botswana. We are fortunate to have secured a
significant position alongside MOD in what is potentially a
significant opportunity.
As previously advised the nature and tenor of mineralisation is
very interesting and we are rapidly gathering data to better
understand and assess the geology.
Let me assure investors that the technical teams involved with
Botswana are very enthused by the exploration findings to date. MOD
is gearing up operationally and there are multiple drilling rigs
now engaged on the property.
It is exciting times for MOD Resources and Metal Tiger. Drilling
results and operational updates from the team on the ground will
continue to flow, with further results expected in the near
term."
Highlights:
-- Following on from the drilling update provided on 1 April,
MTR is pleased to provide details of the first batch of assay
results received for the Target 3 (T3) prospect. The results
pertain to the first two rotary circulation (RC) drill holes
(MO-G-10R & MO-G-11R) of the currently completed six RC drill
holes at T3.
-- Drill hole MO-G-11R, the second hole drilled at T3,
intersected 14m @ 1.97%Cu from 86m down hole depth, including 7m
@2.9% Cu from 92m down hole depth. MO-G-11R also intersected 5
zones of highly anomalous Pb/Zn sulphide mineralisation over an 84m
interval from 64m down hole depth. With the highest individual 1
metre zinc assays grading 3.43%, 2.07% and 1.07% Zn.
-- Intersection summary by drill hole:
o Hole MO-G-10R
Ø 4m @ 0.78% Cu from 88m down hole
o Hole MO-G-11R
Ø 12m @ 0.76% Cu from 69m down hole
Ø 14m @ 1.97% Cu from 86m down hole (including 7m @2.9 % Cu from
92m)
Ø 5 separate zones of Pb/Zn mineralisation over 84m from 64m
depth.
-- Drill hole collars MO-G-10R, MO-G-11R, MO-G-12R and MO-G-13R,
are arranged on a single drill traverse at 60m spacing. Although
MO-G-10R and MO-G-11R are adjacent, an interpreted WNW trending
fault structure crosses between them, accounting for the difference
in intersection width and grade.
-- As announced on 23 March 2016, significant visible Cu
mineralisation was also intersected in MO-G-12R and MO-G-13R which
are on the same drill section to the north of MO-G-11R. The logs
for these holes bear resemblance to MO-G-11R. The assays for these
holes are expected soon.
-- Two further RC holes, MO-G-14R & MO-G-15R, placed
approximately 100m to the east and west of the current MO-G-10R to
MO-G-13R drill section, have also intersected wide zones of visible
disseminated Cu/Pb/Fe sulphides.
-- Two diamond drill rigs are now on site. Hole MOG-01D is
targeting an inferred electromagnetic conductor below 200m depth.
Diamond drilling will provide higher quality geological and assay
data to aide in developing a better understanding of the structural
and lithological setting of the copper, lead and zinc
mineralisation and determining grade intersection
relationships.
-- T3 is located approximately 70km NE of the project's
Tshimologo (T4) Prospect and is located parallel to the same
structural trend known as the Mahumo Structural Corridor, that
hosts MOD's Mahumo Project (circa 20km NE of T3) and Cupric
Capitals' Banana Zone Deposit (60km NE) and Zone 5 Project (120km
NE).
-- MOD outline details of the current exploration procedures
being employed on the project (JORC 2012 Table 1), a drill plan and
section and tabulated assay data in their news release dated 8
April 2016. The work is being managed on the ground by MOD's
Competent Person, Mr Jacques Janse van Rensburg, BSc (Hons),
General Manager Exploration (Africa).
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 and
Thailand. 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 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 viable 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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