LONDON (Alliance News) - Natural resources investment company Metal Tiger PLC on Thursday said it has received further encouraging assay results on the drilling programme on the Kalahari copper project in Botswana.
Metal Tiger owns a 30% stake in the project, with the rest held by partner MOD Resources.
MOD said the third drill hole at the site intersected copper grades of up to 6.9%, with further intersections seen at 2.0% and 3.4% copper.
"The joint venture partners are making tremendous progress with the exploration campaign and we now have multiple drilling rigs active on the ground. Exploration drilling is a key test of a project's potential and so far we have been delighted with the exceptional results encountered. Should this drilling success continue, we believe that the joint venture partners will have a very valuable opportunity," said Metal Tiger Chief Executive Paul Johnson.
Metal Tiger shares were up 8.9% to 4.84 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.