METAL TIGER PLC: Armada Metals Limited -- Diamond Drilling Intersects Magmatic Sulphides at The Nyanga Project
June 21 2022 - 3:44AM
UK Regulatory
TIDMMTR
21 June 2022
Metal Tiger plc
("Metal Tiger" or the "Company")
Armada Metals Limited -- Diamond Drilling Intersects Magmatic
Sulphides at The Nyanga Project
Metal Tiger plc (AIM: MTR, ASX: MTR), the AIM and ASX listed
investor in natural resource opportunities, is pleased to announce
that all three targets drilled by Armada Metals Limited ("Armada")
along the Libonga Matchiti Trend at the Nyanga Project, Gabon, have
intersected magmatic sulphides.
The Phase 1 diamond drill program is now complete with a total
of 3,240m having been drilled in ten drill holes at the Libonga
North, Matchiti Central and Libonga South targets.
Following completion of Armada's IPO, Metal Tiger holds
15,000,000 Armada Shares, representing approximately 14.42% of
Armada's enlarged share capital. In addition, Metal Tiger currently
holds 3,333,333 options over Armada Shares, exercisable at a price
of $A0.334 with a 5-year validity after admission of the company to
the official list of the ASX.
A link to Armada's announcement, released today, is set out
below:
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02533562-2A1380176?access_token=83ff96335c2d45a094df02a206a39ff4
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
Robert Collins (Nominated Adviser)
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/20220621005575/en/
CONTACT:
Metal Tiger plc
SOURCE: Metal Tiger plc
Copyright Business Wire 2022
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June 21, 2022 03:44 ET (07:44 GMT)
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