METAL TIGER PLC: Kalahari Metals Limited: Project Update
July 13 2020 - 5:50AM
UK Regulatory
TIDMMTR
Metal Tiger plc
("Metal Tiger" or the "Company")
Kalahari Metals Limited: Project Update
Metal Tiger plc (AIM: MTR), the London Stock Exchange AIM listed
investor in natural resource opportunities, is pleased to provide
an update in respect of the Botswana copper focussed explorer,
Kalahari Metals Limited ("KML"), in which Metal Tiger has a 62.2%
equity interest.
Phase 1 drilling operations at KML's Kitlanya East ("KIT-E")
Project have now resumed. The drill rig is now drilling hole
KIT-E_03 which is designed to test a disruption in marker
conductors delineated from detailed airborne electromagnetic data
("AEM") along an interpreted, locally developed, anticlinal
structure which may provide a trapsite for mineralisation in a
similar setting to Sandfire's A4 deposit to the north.
Follow-on drill hole KIT-E_04 has been designed to test for
Cu-Ag on the interpreted Ngwako Pan -- D'Kar Formation contact on
an interpreted anticline limb (analogous to Cupric Canyon Capital's
Banana Zone and Zone 5 deposit settings), whilst planned holes
KIT-E_05 and KIT-E_06, aim to test for mineralisation in small
structurally bounded folds which may present trapsites for
mineralisation.
Michael McNeilly, Chief Executive Officer of Metal Tiger,
commented:
"We are pleased to report that drilling has now resumed at KML's
Kitlanya East Project on the Kalahari Copper Belt. The Phase 1
drilling programme is testing stratigraphic, structural and
geophysical targets prospective for hosting copper-silver
mineralisation analogous to the Sandfire Resources T3 and A4
deposits situated 3km and 8km to the north respectively. We look
forward to providing further drill programme updates in due
course."
Illustrative figures showing the location of the KIT-E drilling
programme planned hole collars and a three dimensional section of
the KIT-E_03 AEM target can be viewed at:
https://www.metaltigerplc.com/kml-update-july
Project Background
Kalahari Metals Limited, which was incorporated in England &
Wales on 3 May 2017, holds interests in 12 highly prospective
exploration licences covering a total area of 8,595km(2) in the
Kalahari Copper Belt of Botswana, comprising two 100% owned
exploration licences, five exploration licences subject to a
binding earn-in agreement with Triprop Holdings (Pty) Limited
(includes the Ngami Copper Project), and five exploration licences
held by 100% owned subsidiary, Kitlanya Limited.
As announced on 14 February 2020, Metal Tiger holds
approximately 62.2% of KML together with a conditional 2% net
smelter royalty over all KML's wholly owned licences, being seven
licences covering, in aggregate, 6,650km(2) (together, the
"Royalties"). The five exploration licences owned by Triprop
Holdings (Pty) Limited (in which KML has a 51% interest) do not
form part of the Royalties.
Further details are available under the Project Investments
section of the Company's website at:
https://www.metaltigerplc.com/portfolio/project-investments/kalahari-metals.
This announcement contains inside information for the purposes
of the market abuse regulation (EU No. 596/2014) ("MAR").
Qualified Person's Statement
The technical information contained in this announcement has
been read and approved by Mr Nick O'Reilly (MSc, DIC, MAusIMM,
FGS), who is a qualified geologist and acts as the Qualified 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
Enquiries:
Michael McNeilly (Chief Executive Officer) Tel: +44 (0)20 7099 0738
Mark Potter (Chief Investment Officer)
Richard Tulloch Strand Hanson Limited (Nominated Tel +44 (0)20 7409 3494
James Dance Adviser)
Jack Botros
Paul Shackleton Arden Partners plc (Broker) Tel: +44 (0)20 7614 5900
Steve Douglas
Gordon Poole Camarco (Financial PR) Tel: +44 (0)20 3757 4980
James Crothers
Hugo Liddy
Notes to Editors:
Metal Tiger PLC is admitted to the AIM market of 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. Metal Tiger has two investment divisions: Equity
Investments and Project Investments.
Equity Investments invests in undervalued natural resource
companies. The majority of its investments are listed on AIM, the
TSX and the ASX, which includes its interest in Sandfire Resources
Limited (ASX: SFR). The Company also considers selective
opportunities to invest in private natural resource companies,
typically where there is an identifiable path to IPO. Through the
trading of equities and warrants, Metal Tiger seeks to generate
cash for investment for the Project Investments division.
Project Investments is focused on the development of its key
project interests in Botswana, where Metal Tiger has a growing
interest in the large and highly prospective Kalahari copper/silver
belt through its interest in Kalahari Metals Limited.
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/20200713005267/en/
CONTACT:
Metal Tiger plc
SOURCE: Metal Tiger plc
Copyright Business Wire 2020
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