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Share Price: 22.50
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Change: -1.00 (-4.26%)
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Metal Tiger Investee Gets Licence Renewals Ahead Of Drilling

Mon, 9th Mar 2020 14:30

(Alliance News) - Resources investor Metal Tiger PLC said on Monday investee Kalahari Metals Ltd has been granted some prospecting licence renewals in Botswana.

The Botswana Department of Mines has extended the prospecting licences covering both the Kitlanya East and Kitlanya West projects for two years.

Kalahari Metals, of which Metal Tiger holds 62%, is about to test some copper-silver prospective structures at Kitlanya East later this week. The drilling rig is now on the way, Metal Tiger said Monday.

This phase one drilling programme will consist of a minimum of four diamond core holes covering 1,200 metres. The programme will also include soil geochemistry sampling.

Metal Tiger Chief Executive Michael McNeilly said: "We are pleased to report that Kalahari Metals is commencing an inaugural diamond drilling programme at their Kitlanya East project on the Kalahari copper belt in Botswana.

"The commencement of core drilling represents an important step in targeting copper-silver mineralisation and will seek to test shallow geological settings analogous to those in the Sandfire Resources T3 deposit and A4 Dome project, located directly to the north. We look forward to providing further updates as the drill programme progresses."

Shares in Metal Tiger were 5.0% lower on Monday afternoon in London at 1.33 pence each.

By George Collard; georgecollard@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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