MTR Metal Tiger Plc

 
TIDMMTR 
 
 

7 February 2019

Metal Tiger plc

("Metal Tiger" or the "Company")

Kalahari Metals Limited - High-Resolution Geophysics Identifies Drill-Ready Targets

Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to provide an update regarding Kalahari Metals Limited's ("KML") copper-silver exploration progress.

Highlights

 
 
    -- Drill-ready targets identified through Phase-2 high resolution aerial 

electromagnetic ("AEM") and helicopter-borne magnetic geophysics

surveys over the Ngami Copper Project ("NCP") and Okavango Copper

Project ("OCP") licence areas, significantly advancing the exploration

potential of both projects.

 
    -- Phase-2 geophysical surveys identified high-interest targets including 

'dome style' exploration targets, analogous to the MOD Resources

Limited ("MOD") T3 Deposit (60Mt @ 0.98% Cu & 14 g/t Ag) (initially

identified in the Phase-1 AEM survey as announced on 31 October 2018).

 
    -- Layered Earth ("LE") inversion modelling of the high-resolution data 

has identified compelling targets for follow-up:

At the NCP, three anticline fold-hinge ("dome") targets are

considered to be ready to be drill tested; and

At the OCP, the marker conductors associated with potentially

mineralised contacts have been mapped from the Zone 5 (100 Mt @

1.95% Cu & 19.9 g/t Ag) and Zone5 North (17 Mt @ 2.27% Cu & 43.4

g/t Ag) deposits, both held by Cupric Canyon Capital ("Cupric"),

into the OCP licences with a prominent fold closure target

considered drill ready.

Michael McNeilly, Chief Executive Officer of Metal Tiger plc, commented:

"Theincreased resolution provided by the Phase-2 Airborne Electromagnetic and Magnetic survey data combined with Layered Earth inversion modelling has provided compelling structural and lithological targets for drill-testing.

We are actively reviewing KML's proposed diamond and reverse circulation drilling targets against the strong likelihood of adding significant value to the project through drilling. KML is awaiting sign off or feedback on the Environmental Management Plan ("EMP") shortly for the Ngami licence and further updates will be provided to shareholders in due course."

We recommend that readers also refer to the below linked version of this news release which includes informative images showing the geophysical interpretations:

https://www.metaltigerplc.com/kalahari-metals-limited-phase-2-airborne-geophysics-interpretation-update

Further Details:

Phase-2 Airborne Geophysics Survey Details

 
 
    -- AEM surveys were undertaken using New Resolution Geophysics XCiteTM 

system flown at 400m line spacing over priority areas identified in

the Phase 1 regional programme.

 
    -- AEM data has been run through LE modelling software and interpreted in 

a 3D environment in order to map out the base of Kalahari Group ("KG")

cover and marker conductors above the potentially mineralised D'Kar

Formation ("DKF"): Ngwako Pan Formation contact ("NPF").

 
    -- The more detailed AEM coverage provided the resolution necessary to 

further constrain structural settings with potential for hosting

high-grade copper-silver mineralisation for follow-up drill testing.

 
    -- Further 75m helicopter-borne magnetic data was collected to complete 

the high-resolution magnetic data coverage on the northern portion of

the NCP.

NCP Geophysics Survey Details and Interpretation

 
 
    -- A total of 1,498 line km of AEM and 1,830 line km of heliborne 

magnetic data were collected in the NCP area.

 
    -- Work targeted encouraging results from the Phase-1 regional AEM survey 

which identified a number of compelling fold structures which may

present ideal trap-sites for high-grade copper-silver mineralisation

analogous to the MOD T3 Deposit.

 
    -- LE inversion modelling of the new AEM data further refined the 

3-dimensional structure of the prospective fold-hinges, delineating

three compelling drill-ready targets.

 
    -- In each target, interpreted conductive reduced lower DKF units are 

preserved in northeast-plunging anticlinal structures overlying

oxidised NPF units with mineralisation expected in proximity to the

redox contact.

 
    -- A combination of diamond drill holes have been proposed to confirm the 

DKF-NPF contact horizon in each target, in order to corroborate the

model results and vector-in on potential mineralisation.

 
    -- Location maps, modelling, interpretation and proposed drill plans are 

illustrated in Figures 1, 2 and 3 at the above linked webpage.

OCP Geophysics Survey Interpretation

 
 
    -- A total of 885 line km of AEM data were collected in two blocks in the 

OCP.

 
    -- Modelling of the new AEM data has successfully: 

Mapped the marker conductor above the DKF-NPF contact, extending

from Cupric's neighbouring Zone 5, Zone 5 North and Zone 6

deposits into the OCP licence area, under conductive KG cover; and

Extended coverage of the Phase-1 identified fold-closure target in

the southwest of the OCP ("SW Target") to the western licence

border.

 
    -- The SW Target is considered a high priority for proposed diamond drill 

testing as a potential host for copper/silver mineralisation.

 
    -- Further potential for mineralisation is associated with several tens 

of kilometres of modelled NPF-DKF contact zone extending out over a

series of anticline limbs to the northwest of the SW Target. These

have been proposed as reverse circulation drilling targets.

 
    -- Modelling, interpretation and proposed drill plans are illustrated in 

Figures 4, 5 and 6 at the above linked webpage.

Project Background

KML holds interests in 12 highly prospective exploration licences covering a total area of 8,724km2 in the Kalahari Copper Belt, consisting of two 100% owned exploration licences, five exploration licences subject to a binding earn-in agreement ("Agreement") with Triprop Holdings (Pty) Limited and five exploration licences subject to the Agreement.

Under an investment agreement, announced on 6 June 2018, Metal Tiger has the right to acquire up to 50% of KML, providing Metal Tiger with further exposure to a largely unexplored area, adjacent to significant recent discoveries in the highly prospective Kalahari Copper Belt.

Competent Person's Statement

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 and acts as the Competent Person under the AIM Rules - Note for Mining and Oil & Gas Companies. 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.

For further information on the Company, visit: www.metaltigerplc.com:

 
Michael McNeilly   (Chief Executive Officer)   Tel: +44 (0)20 7099 0738 
Mark Potter        (Chief Investment Officer) 
Richard Tulloch    Strand Hanson Limited       Tel +44 (0)20 7409 3494 
James Dance        (Nominated Adviser) 
Jack Botros 
Nick Emerson       SI Capital (Broker)         Tel: +44 (0)1483 413 500 
Gordon Poole       Camarco (Financial PR)      Tel: +44 (0)20 3757 4980 
James Crothers 
Monique Perks 
 
 

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 base, precious and strategic metals focus.

The Company's target is to deliver a high return for shareholders by investing in significantly undervalued and/or high potential opportunities in the mineral exploration and development sector. The Company's key strategic objective is to ensure the distribution to shareholders of major returns achieved from disposals. Metal Tiger has two investment divisions: Direct Equities and Direct Projects.

The Direct Equities division invests in undervalued natural resource companies listed on AIM, the ASX and the TSX. Through the trading of equities and warrants, Metal Tiger seeks to generate cash for investment in the Direct Projects division.

Metal Tiger's Direct Projects division is focused on the development of its key project interests in Botswana, Spain and Thailand. In Botswana, Metal Tiger, through its 12.5% interest in MOD Resources Limited and related JV, 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 lead/zinc/silver mines as well as licences, applications and critical historical data covering antimony, copper, gold, lead, zinc and silver opportunities.

The Company actively assesses new investment opportunities on an on-going basis and has access to a diverse pipeline of new opportunities in the natural resources and mining sectors. For pipeline opportunities deemed sufficiently attractive, Metal Tiger may invest in the project or entity by buying publicly listed shares, by financing privately and/or by entering into a joint venture.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190207005418/en/

 
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February 07, 2019 07:36 ET (12:36 GMT)