LONDON (Alliance News) - Metal Tiger PLC's chief executive said on Friday that the company was pleased with the findings of an interim exploration report on its Chanthaburi joint venture project in Thailand.
"The presence of antinomy mineralisation bodes well for the prospectivity of the licence area. And in addition to that, finding gold anomolies in the samples taken from the northern part of the licence, an area that has no previously known mineralisation, is particularly intriguing and a new area that we intend to follow up," Chief Executive Cameron Parry said in a statement.
"We look forward to providing more news in due course as Metal Tiger now increases the level of funding directed toward exploration work on our JV licence in Thailand based on these encouraging preliminary findings," the CEO added.
Parry's comments came as the natural resources investor issued an update on its joint venture project with South East Asia Exploration & Mining Co.
The statement said that the joint venture partner filed the interim exploration report.
It said that assays of 71 soil samples collected on three east-west lines indicate two anomalous areas.
"Results warrant further infill soil sampling and follow-up investigation work which will be agreed with Metal Tiger Chairman and renowned prospector Terry Grammer," Metal Tiger said.
Metal Tiger shares were up 0.4% at 0.979 pence on Friday afternoon in London.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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