LONDON (Alliance News) - Metal Tiger PLC said Tuesday it has been awarded the Zorita exploration licence that forms part of its Logrosán joint venture project in Caceres, Spain, and that drilling has begun at Target 1 in the Zorita licence.
The company said its licence is valid for three years, and covers an area of 105.96 kilometres squared. Caceres is in western Spain, near the border with Portugal.
Planned first phase drilling at target 2 is completed, the company said. Drilling on Target 1 will continue to target tungsten mineralisation.
"It is exciting to be able to report the award of the Zorita Exploration Licence as this contains Target 1 - an area prospective for both tungsten and gold based on the previous surface sampling. The award of Zorita has seen drilling commence on Target 1. Drilling at Target 2 has been completed and we look forward to releasing more results with regard to tungsten at Target 2 shortly as well as results from Target 1 in due course," said Chief Executive Officer Cameron Parry in a statement.
Shares in Metal Tiger are trading down 1.5% at 0.96 pence Tuesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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