(Alliance News) - Metal Tiger PLC on Monday said all five of holes drilled in the Reung Kiet maiden drill programme intersected the main pegmatite zone.
Shares in Metal Tiger were down 6.2% at 1.36 pence in afternoon trade.
Pan Asia Metals, which is 8.3% owned by Metal Tiger after a recent share issue diluted its holding from 14%, conducted the drilling and owns the Thai project.
587.5 metres were drilled, consisting of five holes, with all intersecting the "targeted main pegmatite zone". Results included 6.3 metres at 0.7% lithium oxide from 66 metres at hole RKDD001 and 15.6 metres at 0.8% lithium oxide from 55 metres at hole RKDD002.
The mineralised zones at Reung Kiet are open to the north of hole RKDD001.
Nine trenches have been completed and found "a large open-ended lepidolite rich pegmatite dyke swarm" of up to 100 metres in width to the south of a historical open pit. Trenching at Reung Kiet South found 90 samples with an average grade of 1.4% lithium oxide.
Metal Tiger Chief Executive Michael McNeilly said: "We are delighted to receive the results from [Pan Asia Metals'] inaugural drilling programme at their Reung Kiet lithium project in Thailand. The results confirm wide intersections of lepidolite hosting pegmatite below the shallow historical open pit, with trenching and outcrop sampling work currently demonstrating open-ended potential to extend the deposit along strike to the south west of the old pit. The work to date has resulted in an open-ended mineralised strike of approximately 1 kilometre being identified."