TIDMMTR
Metal Tiger Plc16 April 2018
Metal Tiger Plc("Metal Tiger" or the "Company")
Botswana Copper/Silver Project - EMP Submitted for Drilling T20
Dome
Metal Tiger plc (LON:MTR), the London Stock Exchange AIM listed
investor in strategic natural resource opportunities, is pleased to
provide an update regarding the Company's Joint Venture ("JV")
project with partner MOD Resources Limited (ASX:MOD) ("MOD") in the
Kalahari Copper Belt in Botswana (70% MOD Resources/30% Metal
Tiger).
Highlights:
-- Application lodged with Botswana Department of Environmental Affairs
(DEA) for an Environmental Management Plan (EMP) for drilling
within
the circa 697km2 T20 Dome complex.
-- T20 Dome EMP will allow the drilling of new and existing targets
identified along a 140km long strike of the Central
Structural
Corridor.
-- Additional 939km2 airborne electromagnetic (EM) geophysics
survey coverage planned to commence in mid-2018, to link up
the
previous three EM trail survey blocks over the centre of the T20
Dome.
Michael McNeilly Chief Executive Officer of Metal Tiger
commented:
"The submission of the EMP for the T20 Dome will, where awarded,
provide access to important strategic ground for the JV and open up
an additional 697km2 of under explored and prospective Kalahari
copper belt for drilling. Opening the T20 Dome for drilling will
allow the possibility of adding to a pipeline of confirmed copper
targets whilst we move the T3 Resource through the mine feasibility
study process. With the recently awarded T3 Dome EMP, drilling is
planned to commence at the T3 Dome in May, and we look forward to
the prospect of exciting drill intersections."
This announcement coincides with an update released today by MOD
which can be viewed through the following link:
http://search.asx.com.au/s/search.html?query=mod&collection=asx-meta&profile=web
T20 Dome Regional Exploration Planned Work & Targets
-- The T20 Dome EMP has been lodged for permission to test several new
and existing targets along the Central Structural Corridor along
the
northern part of the T20 Dome complex.
-- Approval of the T20 EMP will increase the total area available to
drilling to approximately 1,377km2 (consisting the T3 Dome
and T20 Dome).
-- The JV operating company Tshukudu has executed Access Agreements with
28 farms to allow access for the required exploration
operations.
-- The planned extension of the airborne EM Geophysics survey coverage
will extend geophysics data coverage over the centre of the T20
Dome
and will facilitate the generation of new drilling targets and
tie
together the three-existing trial EM Survey blocks.
-- T20 Dome drilling targets to include:
T4, where reverse circulation (RC) drill hole MO-A-04R
intersected
2m @ 6% Cu & 111g/t Ag from 101m depth, prior to the
discovery of
T3 in March 2016. T4 is located approximately 80km SWW of
T3.
Interpretation for the trial EM data covering this target,
together with soil sampling data has identified the possibility
of
extensions to the known mineralisation.
T23, a new target located 15km west of T4. A compelling
target
derived from the interpretation of airborne EM data and
detailed
magnetic data. It consists an interpreted rotated structural
anomaly within the core of a larger dome structure. T23 is
likely
to be the first target to be drilled when the T20 Dome EMP
is
approved.
-- The approval of the T3 Dome EMP was announced on 3 April 2018, with
drilling expected to commence in May.
Background information on the T3 Project
The T3 Project is located on the Kalahari Copper Belt in
northern Botswana and is part of the MOD/MTR joint venture Botswana
Copper/Silver Project. T3 is located within the central part of the
T3 Dome (approximately 1,000km2), which is the focus of rapidly
increasing exploration activity undertaken by the JV. Two
significant resources have been discovered to date within the T3
Dome: T1 (Mahumo deposit 100% MOD) and T3 (70% MOD / 30% MTR).
The T3 Deposit was discovered in March 2016 when a reverse
circulation ("RC") drill hole intersected 52m @ 2.0% Cu and 32g/t
Ag from shallow depth. The maiden T3 JORC (2012) compliant Mineral
Resource was announced on 26 September 2016 with the first Resource
upgrade announced on 24 August 2017. The results of a Scoping Study
for an open pit mine at T3 with a 2Mtpa processing plant, an
indicative mine life of 10 years and an average production rate of
21,800tpa of copper and 665,000oz pa of silver was released on 6
December 2016. Work on a Pre-Feasibility Study (PFS) commenced in
January 2017 and additional deeper copper mineralisation was
discovered below the T3 Resource in February 2017.
The T3 Prospect geological data and exploration results have
been reviewed and approved by Jacques Janse van Rensburg,
BSc.(Hons), Business Development Manager and Competent Person for
MOD Resources Ltd. Mineral Resource estimation and classification
of the T3 Copper/Silver Project was conducted and approved by Mr
A.I. Pretorius, MSc. Pri.Sci.Nat. an independent consultant to MOD
Resources Ltd.
The Phase 2 drilling at the T3 Copper/Silver Deposit commenced
on 7th August 2017, with approval granted for the recommencement of
both diamond core (DC) and reverse circulation (RC) drilling at the
T3 Project and its vicinity, through to December 2018. This
includes up to 70 planned diamond core drill holes designed to
infill the current Resource and test for possible extensions. The
objective of the infill program is to increase geological
confidence and upgrade categorisation of the T3 Resource. The
programme also includes grid drilling to investigate the potential
for an underground Resource down-dip and along strike from the
planned open-pit, and to investigate geophysical targets. Drilling
approval has been granted for the wider T3 Dome with the acceptance
of the T3 Dome EMP announced on 3 April 2018.
The results of the T3 Open Pit Pre-Feasibility Study were
announced on 31st January 2018.
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 acts as the Competent 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 Principal consultant
working for Mining Analyst Consulting Ltd which has been retained
by Metal Tiger PLC to provide technical support.
In addition to its 30% interest in the JV, Metal Tiger holds
138,800,415 MOD shares, equivalent to 6.0197 % of MOD's issued
share capital and 1,541,667 MOD options each exercisable price of 6
cents (Australian) on or before 15 April 2019.
For further information on the Company, visit:
www.metaltigerplc.com:
Michael McNeilly (Chief Executive Tel: +44(0)20 7099 0738
Officer)
Keith Springall (Finance Director & Tel: +44 (0)20 7099 0738
Company Secretary)
Stephen Allen or RFC Ambrian Ltd Tel +44 (0)20 3440 6800
Bhavesh Patel (Nominated Adviser)
Jonathan Williams RFC Ambrian Ltd Tel +44 (0)20 3440 6800
(Joint Broker)
Nick Emerson SI Capital Tel: +44 (0)1483 413 500
(Joint Broker)
Rita Adiani NRG Tel: +44 (0)20 3709 4504
Gordon PooleJames Camarco Tel: +44 (0)20 3757 4980
Crothers (Financial PR)
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,
the Company has tungsten and gold interests in the
highly-mineralised Extremadura region. In Thailand, Metal Tiger has
interests in two potentially near-production stage silver/lead/zinc
mines as well as 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 AIM or NEX Exchange (formerly ISDX) partner
with whom the Company is engaged.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20180415005141/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
April 16, 2018 02:00 ET (06:00 GMT)
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