LONDON (Alliance News) - Natural resources investing company Metal Tiger PLC on Wednesday reported further positive results from the diamond drilling programme at its joint venture with MOD Resources Ltd in the Kalahari copper belt in Botswana.
Metal Tiger has a 30% stake in the venture, with MOD Resources holding the remaining 70%.
Metal Tiger confirmed the delineation of a new three-kilometre long copper/zinc anomaly from the continuing soil sampling programme, located around 3.5 kilometres northeast of the T3 Resource drilling area.
This anomaly will be tested by reverse circulation drilling, the company said.
Assay results have been received from three diamond drill holes, and all three have intersected wide zones of more than 1% copper mineralisation, along a 600 kilometre strike length in the centre of the resource target area.
"I am pleased to report further positive results from the exploration programme at T3 and would note that the resource area now extends to a one kilometre strike length. Since the original discovery the JV has tested only a small portion of the potential around T3 and there is further opportunity to identify additional mineralisation around the existing drill tested areas. The addition of a further diamond drill rig will assist with this work," said Chief Executive Officer Paul Johnson in a statement.
Shares in Metal Tiger were down 0.8% at 3.25 pence Wednesday.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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