LONDON (Alliance News) - Metal Tiger PLC Wednesday said its joint venture with MOD Resources Ltd in Botswana has identified a further copper/zinc anomaly, and assay results have confirmed "very high" silver and copper grades.
Metal Tiger has a 30% stake in the joint venture, the Kalahari copper belt, whilst MOD has a 70% stake.
Further soil samples have have identified a new four kilometre copper/zinc anomaly to the west of its phase I resource programme area, which extends the zone of soil anomalies to over 12 kilometres. Soil sampling is ongoing.
A reverse circulation drilling rig has begun testing the three kilometre anomaly previously identified in this area.
Meanwhile, assay results have been received for a further three holes in the resource programme area, showing wide intersections of 1 to 2% copper mineralisation. It said that assay results from the holes confirmed very high silver and copper grades of up to 363 grams per tonne silver, and 21.5% copper.
"Without question this is a remarkable opportunity for Metal Tiger and MOD Resources. We eagerly await the next set of assay data as the JV continues to grow and develop this project," said Metal Tiger Chief Executive Paul Johnson in a statement.
Shares in Metal Tiger were up 3.3% at 3.17 pence Wednesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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