METAL TIGER PLC: Southern Gold -- Quarterly Activities Report
July 30 2020 - 4:24AM
UK Regulatory
TIDMMTR
Metal Tiger plc
("Metal Tiger" or the "Company")
Southern Gold -- Quarterly Activities Report
Metal Tiger plc (AIM: MTR), the London Stock Exchange AIM listed
investor in natural resource opportunities, is pleased to announce
that Southern Gold Limited ("Southern Gold"), in which Metal Tiger
owns an approximate 17.1% equity interest, has published a
Quarterly Activities Report for the Quarter ended 30 June 2020.
Highlights:
-- Aphae Project: 720.46m of diamond drilling in four holes now completed
-- The fourth hole, APDD004, intersected a narrower zone (10m) of
weakly sulphidic milled matrix supported monolithic (granite)
breccia
-- Assays results are now pending from the drilling programme
-- Deokon Project: drilling of Fourth hole now commenced at Shin Hill,
Deokon, following the completion of three holes for a total of 773.02m
being drilled to date
-- Intersected quartz-sulphide-carbonate veining and flood breccia
(lode) minersalisation down-dip of the historical workings
-- Assays results are now pending from the drilling programme
-- Beopseongpo Project: completed 1,230.49m of diamond drilling in five
holes at 'Hand of Faith' and 'Spider' prospects. Peak assay received was
0.24m @ 1.71g/t gold at 'Hand of Faith' with the project ranking being
downgraded
-- Regulatory approvals to drill at depth at Weolyu Project are now well
advanced with drill programme planning and logistics for Q1 FY21
completed, including a diamond drill programme at the Dokcheon Project
-- New target area close to the operating Eunsan Gold Mine, Jangwhal Project,
now secured with tenement applications
Southern Golds' full Quarterly Activities Report including maps
of prospect locations can be found here:
https://www.asx.com.au/asxpdf/20200730/pdf/44kzs3phf3gqyr.pdf
Michael McNeilly, Chief Executive Officer of Metal Tiger,
commented:
"Initial results from Southern Gold's drilling at the Aphae and
Deokon projects demonstrate positive results. We look forward to
completion of drilling and the results of the assays which will
likely give further understanding to the value of the Deokon and
Aphae Projects.
"Further to this, we are pleased to also see regulatory
approvals at the Weolyu Project advancing, which, if accepted, will
see Southern Gold's planned drilling programme beginning in Q1
2021."
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/20200730005375/en/
CONTACT:
Metal Tiger plc
SOURCE: Metal Tiger plc
Copyright Business Wire 2020
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