Metal Tiger PLC - Winchester-based investor in natural resources companies and projects - Notes that Armada Exploration Ltd, in which Metal Tiger has a 19% interest in, has received the processed results from an electromagnetic survey flown in March over two exploration licences believed to be prospective in nickel and copper in Gabon.
Modelling of the survey data has identified 14 anomalies associated with the margins if interpreted mafic rock units.
"We are excited to report that the processed results of Armada’s airborne geophysics survey have identified 14 conductive bodies distributed along the entire length of the 25km long Libonga-Matchiti Trend, providing further validation of the Ni-Cu sulphide exploration potential of the survey area. Armada are prioritising drilling targets in the Libonga North and Matchiti Central target areas for a planned drilling programme which would commence following the planned ASX listing, with further details expected in due course," says Chief Executive Officer Michael McNeilly.
Current stock price: 27.90 pence
Year-to-date change: up 20%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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