Metal Tiger plc Metal Tiger plc: Kalahari Metals Limited - Earn-In and Exploration Update
August 20 2018 - 2:34AM
UK Regulatory
TIDMMTR
20 August 2018
Metal Tiger plc
("Metal Tiger" or the "Company")
Kalahari Metals Limited - Earn-In and Exploration Update
Metal Tiger (LON:MTR), the London Stock Exchange AIM listed
investor in strategic natural resource opportunities, is pleased to
provide an update regarding Kalahari Metals Limited ("KML")
exploration progress. KML has entered into an exclusivity period
with Resource Exploration and Development Limited ("RED") to
undertake due diligence with a view to acquiring an additional 5
licenses in Botswana. The licenses include 4,661 km2 of recently
granted permits strategically located in the Kalahari Copper Belt.
The prospective land package provides an excellent opportunity for
KML to expand its current land position in the emerging Kalahari
Copperbelt. This will strengthen KML's position on the Copperbelt
adding to its existing interests in seven highly prospective
exploration licences covering a total of 4,063km2. Under the
investment agreement announced on 6 June 2018, Metal Tiger has the
right to acquire up to 50% of KML giving Metal Tiger further
exposure to a significant area of largely unexplored ground,
adjacent to significant recent discoveries in the highly
prospective Kalahari Copper Belt.
Exploration update
KML holds interests in seven exploration licences; two 100%
owned exploration licences; and five exploration licences subject
to a binding earn-in agreement with Triprop Holdings (Pty) Limited
("Triprop"). At two of KML's target copper projects, the Okavango
Copper Project and Ngami Copper Project ("Okavango" and "Ngami"),
magnetic and first phase electromagnetic airborne surveys have been
completed.
Highlights Include:
-- Airborne high resolution magnetic and electromagnetic ("AEM") surveys
(announced 10 July 2018), have now been completed over the
prospective
Okavango Project (Eastern Block) and Ngami Copper Project
(Western
Block) concessions.
-- Total of 16,700 km2 of high-resolution magnetic data were
collected over priority areas identified at Okavango.
-- KML anticipates final processed survey results by the end of August
2018.
-- Processed survey data will help target the mineralised redox contact
at the base of the D'Kar Group as well as identifying
favourable
regional structures and anticlines which have the potential to
host
mineralisation in analogous settings to the Mod Resources T3
Deposit.
-- High-resolution magnetic data provides an essential base map for
exploration under sand cover and has been used successfully by
recent
explorers elsewhere in the Kalahari Copperbelt.
-- The first phase of AEM surveys have been designed to provide regional
structural information and the follow-up programme will include
higher
resolution AEM surveys targeting areas of interest identified in
the
current phase of work.
-- Results from the AEM will be used to provide priority areas for
follow-on drill testing.
Michael McNeilly, Chief Executive Office of Metal Tiger plc,
commented:
"Metal Tiger has significant interest in the Kalahari Copperbelt
through its interests with MOD and KML and these early indications
from KML are encouraging. Work continues a pace and we look forward
to receiving the processed first phase survey results and following
on with the interpretation and prioritising of drill targets."
For further information on the Company, visit:
www.metaltigerplc.com:
Michael McNeilly Chief Executive Officer Tel: +44 (0)20 7099 0738
(Metal Tiger plc)
Mark Potter Chief Investment Officer Tel: +44 (0)20 7099 0738
(Metal Tiger plc)
Stephen AllenBhavesh Patel RFC Ambrian Ltd(Nominated Adviser) Tel: +44 (0)20 3440 6800
Charlie Cryer RFC Ambrian Ltd(Joint Broker) Tel: +44 (0)20 3440 6800
Nick Emerson SI Capital(Joint Broker) Tel: +44 (0)1483 413 500
Gordon Poole Camarco(Financial PR) Tel: +44 (0)20 3757 4980
James Crothers
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/20180819005037/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
August 20, 2018 02:34 ET (06:34 GMT)
Metal Tiger (LSE:MTR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Metal Tiger (LSE:MTR)
Historical Stock Chart
From Jul 2023 to Jul 2024