TIDMMTR
Metal Tiger Plc
("Metal Tiger" or the "Company")
Botswana T2 West RC Drilling Intersects Wide Copper
Intervals
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed
investor in strategic natural resource opportunities is pleased to
provide an update with regard to regional exploration results at
the Company's Joint Venture ("JV") project with partners MOD
Resources (ASX:MOD) in the Kalahari Copper Belt in Botswana (70%
MOD Resources / 30% Metal Tiger).
Details of Technical highlights in respect of the further
reverse circulation drilling findings at the regional target T2 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
exploration work 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 commented
"
"Following quickly on from the announcement of the new copper
discovery at T2 West, last week, we are pleased to report that
follow-up drilling has succeeding in tracing the visible copper
mineralisation down dip. The preliminary findings show that the
down-dip intersections contain wider intervals of visible copper
mineralisation, with a 29m interval from only 49m depth in
MO-G-54R, the third hole drilled at T2 West.
Given that the T2 West copper in soil anomaly consists a 1.5km
wide zone, the team are now stepping out on a new drill section
250m to the east, where we are hopeful of intersecting the same
mineralised formation. As the drill samples are currently awaiting
laboratory assay we are not yet able to report actual copper grades
and widths, but look forward to communicating these with our
investors once they become available."
Highlights:
Reverse Circulation Drilling at T2 West
-- Following on from the discovery of copper mineralisation at T2 West,
as reported 15 August 2016, a further 3 holes drilled on the
same
drill section have intersected wide intervals with
potentially
significant copper mineralisation. T2 West is the first new JV
target
to be drilled since the discovery of T3 in March 2016.
-- The first drill section, across the southern part of the T2 West soil
anomaly, consists of five RC holes all of which have intersected
zones
of vein and disseminated copper mineralisation which is
interpreted as
being associated with folding of host sediments directly above
the
Kalahari Footwall sediment contact (FW).
-- Following on from the discovery holes MO-G-52R & MO-G-53R which
intersected 15m and 10m intervals (respectively) of shallow
visible
copper oxide and copper sulphides, including the copper
minerals
chysocolla, malachite, chalcocite and bornite, three further
holes
MO-G-54R, MO-G-57R & MO-G-58R have targeted the same
mineralisation
down dip, with the following highlights:
-- MO-G-54R intersected a 29m interval with multiple zones of
visible copper sulphide mineralisation from 49m downhole.
-- MO-G-57R intersected a 21m interval with multiple zones of
visible copper sulphide mineralisation from 85m downhole.
-- MO-G-58R intersected a 26m interval with multiple zones of
disseminated copper sulphide mineralisation from 146m
downhole.
-- With the positive visual copper intersections in these five holes,
drilling is now continuing 250m along strike to the east.
-- The T2 West drill sample assay results will be reported, in due
course, once they have been received and interpreted. Where
results
deem appropriate the RC drilling will be followed up by
diamond
drilling. This regional target drilling is in addition to the
resource
programme at T3.
-- On the same drill section line, but on a separate soil anomaly to the
north, two additional RC holes (MO-G-55R and MO-G-56R) were
drilled,
whilst these holes intersected FW sediments, they failed to
determine
the source of this northerly soil anomaly.
-- T2 West is located 20km north of the T3 Resource Drilling area and
3.5km west of MOD's 100% owned high-grade Mahumo copper/silver
deposit
(T1). It forms part of the T2 Prospect together with the T2 East
soil
anomaly located approximately 12km to the east. There is no
outcrop at
T2 and the area is covered by surficial calcrete.
-- T2-West has consistently high copper values up to 87ppm Cu over
a circa 1.5km wide zone;
-- T2-East has consistently high copper values up to 83ppm Cu over
a circa 1.5km wide zone.
-- Both T2 anomalies are interpreted from magnetic geophysics survey
data, to be associated with folding of the prospective
Mahumo
geological contact and are located directly along strike from
the
Mahumo deposit.
T2 West Drilling Details
All T2 West RC holes are inclined, 320° azimuth/-60° dip, except
MO-G-56R which is 160° azimuth/-60° dip. On the first drill
section, intercepting mineralisation, MO-G-54R reached 103m,
MO-G-57R reached 115m and MO-G-58R reached 182m. These hole collars
were drilled at 50m spacing.
MO-G-55R and MO-G-56R the RC holes further to the north reached
60m and 61m respectively. MOD provide a full table of drill
coordinates and key parameters in their release of today, together
with a preliminary geological section interpretation (see above
link).
Location
The MOD/MTR joint venture Botswana Copper/Silver Project is
located on the Kalahari Copper Belt in northern Botswana. The T3
Phase 1 Resource Drilling area 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). The T2 Prospect is located directly along strike from the
Mahumo Project and approximately 20km north of T3.
The exploration work is being managed on the ground, in
accordance with JORC 2012 best practice, 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 has visited the T3 site and reviewed MOD's
drilling and sampling protocols and procedures. 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 (Chief Tel: +44 (0)7766 465 617
Executive Officer)
Terry Grammer (Non- Tel: +44 (0)207 099 0738
Executive
Chairman)
Sean Wyndham-Quin Spark Advisory Partners Tel: +44 (0)
Neil Baldwin Limited 2033 683 555
Nick Emerson (Nominated Adviser)
Andy Thacker SI Capital www.sparkadvisorypartners.com
(Sole Broker) Tel: +44 (0)
1483 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.
View source version on businesswire.com:
http://www.businesswire.com/news/home/20160823005556/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
August 23, 2016 03:16 ET (07:16 GMT)
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