MTR.L Share News (MTR)

(ShareCast News) - Metal Tiger (MTR), an AIM listed investor in strategic natural resource opportunities has secured 10 license extensions and acquired two new concessions for its joint venture (JV) project with MOD Resources in the Kalahari Copper Belt in Botswana. Two-year licence extensions have been granted for 10 JV licences and an agreement has been reached to acquire two additional licences, which will secure around 200km of the prospective structural zone which hosts the T3 Resource.The T3 Resource is located on the Kalahari Copper Belt in northern Botswana and is part of the MOD/MTR joint venture Botswana Copper/Silver Project.Chief Executive Officer of Michael McNeilly said: "With the grant of the 10 licence extensions and the agreement to acquire two new concessions the joint venture has increased our ground holding over the Kalahari Copper Belt and crucially we have secured the westward extension of the T3 host structure right up to the Namibian border."The company's RC rig is currently drilling to test the T3 host sequence extending up to 3km west of proposed open-pit. The infill diamond drilling results have reinforced the potential to expand and upgrade the current T3 Mineral Resource."We are encouraged by the results of the infill drilling which show that there is good potential for not only increasing the current total Resource but upgrading more of it into the Indicated category. Furthermore, we have the prospect of the current RC drilling and planned infill drilling extending the currently open mineralisation westwards," said McNeilly.The share price rose 9.22% to 1.61p at 0920 GMT on Friday.