(Alliance News) - Metal Tiger PLC said on Monday investee Kalahari Metals has identified future drilling targets.
Metal Tiger holds just under a 60% stake in Kalahari.
Environmental management plans for both the Kitlanya East and Kitlanya West licence packages have been approved for gazetting by the Botswana Department of Environmental Affairs. Following gazetting, the approval of the plans provides a green light to drill test targets.
Two targets, in close proximity to the MOD T3 deposit, have been identified as a priority for drill testing.
Target KIT-E-1A, a tightly folded conductor located in a fold nose mapped from high-resolution magnetic data, is supported by anomalous zinc soil sample geochemistry. Meanwhile, target KIT-E-2A is an open, easterly plunging interpreted anticlinal structure, whose proximity to the neighbouring T3 deposit is considered "significant" for potential copper-silver mineralisation.
The targets are supported by magnetic data interpretation, soil geochemistry results and stratigraphy intersected in historical drilling.
"The results of the airborne geophysics survey over the Kitlanya East project area are very encouraging, with clear structural drill targets supported by soil geochemistry and close proximity to the MOD T3 deposit," said Metal Tiger Chief Executive Michael McNeilly.
"The completion of the environmental management plan gazetting will allow Kalahari to progress the Kitlanya East area to, what we hope will be, an exciting period of drill testing," he added.
Shares in Metal Tiger were down 3.8% at 1.23 pence in London on Monday.
By Lucy Heming; lucyheming@alliancenews.com
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