METAL TIGER PLC: Sandfire A4 Step-Out Drilling Update
September 07 2021 - 4:46AM
UK Regulatory
TIDMMTR
07 September 2021
Metal Tiger plc
("Metal Tiger" or the "Company")
Sandfire A4 Step-Out Drilling Update
Metal Tiger plc (AIM: MTR, ASX: MTR), the AIM and ASX listed
investor in natural resource opportunities, is pleased to provide
an update in relation to its investment in Sandfire Resources
Limited ("Sandfire") which contains information relevant to Metal
Tiger's 2% uncapped net smelter royalty over circa 8,000km2 of
Sandfire's licence holdings in the Kalahari Copper Belt including
PL190/2008 (excluding the T3 Motheo Project area), which hosts the
A4 deposit. Metal Tiger also has a capped US$2m 2% net smelter
royalty over production from the T3 Motheo mine. Sandfire today
announced a standout intersection from 439m down-hole of 45m @ 2.2%
copper (including 2.1m @ 8.25% Cu) 1.2km south-west of the recently
upgraded A4 Mineral Resource.
Highlights:
-- MO-A4-207D is the first hole to effectively test the axis of the A4
periclinal anticline ("A4 Dome") interpreted from Airoborne
Electromagnetic (AEM) data to the west of the current Mineral Resource.
-- Interpretation of AEM and airborne magnetic data has highlighted a
distinctive structure that potentially continues for 5km along the axis
of the A4 Dome, which may link the intersection in MO-A4-207D with
similar high-grade vein-hosted mineralisation previously reported up to
1.9km to the east.
-- Drilling is continuing, with two rigs testing the true width of the
mineralisation and the potential for extensions below MO-A4-207D and a
third rig expected to arrive at A4 in mid-September.
-- A4 Deposit continuing to develop as a key potential source of satellite
feed for the Motheo Copper Mine, where full-scale construction and
development is now underway following the award of the Mining Licence of
7 July 2021.
-- Pre-Feasibility Study to support a maiden Ore Reserve for A4 on track to
be completed during the quarter as the foundation for a final Feasibility
Study targeted in the March 2022 Quarter. This will provide a development
pathway for the integration of A4 into the proposed 5.2Mtpa Motheo
Production Hub.
Metal Tiger is currently interested in 6,143,357 Sandfire shares
representing approximately 3.4% of Sandfire's issued share capital.
As announced on 8 December 2020, 2,842,667 of the Sandfire shares
held by the Company are subject to an equity derivative financing
arrangement with a global investment bank.
A link to the Sandfire announcement released today can be found
below:
High Grade Drilling Results at A4 Dome:
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02418273-6A1049135?access_token=83ff96335c2d45a094df02a206a39ff4
Michael McNeilly, Chief Executive Officer of Metal Tiger,
commented:
"It is hugely encouraging to see Sandfire's continued progress
in the Kalahari Copperbelt at T3 and in particular A4. Copper is a
critical mineral for the green economy and projects such as T3/A4
and the potential of the Kalahari Copperbelt will be hugely
important if the world is to achieve the global climate targets. We
look forward to further progress."
For further information on the Company, visit:
www.metaltigerplc.com
Enquiries:
Michael McNeilly (Chief Executive Officer) Tel: +44 (0)20 3287 5349
Mark Potter (Chief Investment Officer)
James Dance Strand Hanson Limited Tel +44 (0)20 7409 3494
James Harris (Nominated Adviser)
Robert Collins
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
Rebecca Waterworth
Notes to Editors:
Metal Tiger PLC is admitted to the AIM market of the London
Stock Exchange AIM Market ("AIM") and the ASX Market of the
Australian Securities Exchange Market ("ASX") 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/20210907005387/en/
CONTACT:
Metal Tiger plc
SOURCE: Metal Tiger plc
Copyright Business Wire 2021
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