LONDON (Alliance News) - Natural resources investment company Metal Tiger PLC said Monday that there has been a major resource increase for the T3 Project on the Kalahari Copper Belt In Botswana.
The company also said that it has appointed Mark Potter as chief investment officer with immediate effect.
The T3 Project's total mineral resource estimate has been upgraded up 60 million tonnes at 0.98% copper and 14 grams per tonne of silver for a contained 590,000 tonnes of copper and 27 million ounces of silver.
This represents a 44% increase in contained copper, and 46% of the revised total resources has been classified as an indicated mineral resource.
Drilling is set to continue to extend high-grade underground potential outside of the planned T3 pit.
Potter has been a part of Metal Tiger for one and a half years since January 2017, when he was a non-executive director. He is also currently chief executive officer at Sita Capital Partners LLP, an investment manager for the mining industry since December 2016.
"We are delighted to report a substantial Resource upgrade for the T3 Open Pit deposit. The revised Resource prepared by CSA Global, the well-respected independent resource consultants, has exceeded the JV expectations," said Chief Executive Officer Michael McNeilly.
"I am delighted to welcome Mark into his new position as chief investment officer. Mark has contributed significantly in his role as a non-executive director and it is the board's belief that he will add significant value to the executive team and I personally look forward to working with him more closely on a day-to-day basis," McNeilly added.
Shares in Metal Tiger were up 1.0% at 2.85 pence on Monday.