Metal Tiger plc (LON:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, gave DirectorsTalk an update regarding the Company’s Joint Venture project with partner MOD Resources Limited (ASX:MOD) in the Kalahari Copper Belt in Botswana (70% MOD Resources/30% Metal Tiger). Metal Tiger also holds 95,543,934 MOD shares, equivalent to 5.044% of MOD’s issued share capital and 1,541,667 MOD warrants at an exercise price of 6 cents (Australian).
Michael McNeilly Chief Executive Officer of Metal Tiger commented: “The latest batch of drill core assays from our T3 Copper/Silver project continue to build on the potential of the deposit.With all six holes returning significant intersections and higher-grade zones, from outside the confines and along strike of the current pit shell, the potential for future mining, be that open-pit or open-pit and underground, continues to grow. The reinterpretation of airborne geophysics in conjunction with the latest understanding of the geology derived from drilling results has generated a three-dimensional model of the T3 mineralisation host sequence for drill testing.With a potential 11km of resulting 3D model strike length to be tested, we are excited by the potential of finding further, as-yet hidden, copper mineralisation.
We look forward to providing further exciting updates as the various work streams continue towards the scheduled Prefeasibility Study findings in December.”
Highlights:
-- Drill core assays along strike from planned T3 open pit confirm
high-grade vein intersections and build confidence in the conceptual
underground mining potential.
-- Mineralised veins now appear to be continuous over an enlarged 1,400m
strike length.
-- Headline intersections from the 6 holes received include:
Hole MO-G-80D
4.5m @ 4.0% Cu & 65 g/t Ag from 254m near western limit
of drilling.Hole MO-G-81D
11.0m @ 1.5% Cu & 19 g/t Ag from 186m near eastern
limit of drilling.
-- Re-interpretation of Airborne Electromagnetic (AEM) geophysics data
with three-dimensional (3D) modelling suggests the 200-300m thick T3
mineralisation host sequence may continue along strike for up to 11km.
Drilling to test the model has commenced.
