10 Jul 2018 07:00
10 July 2018
Metal Tiger plc
("Metal Tiger" or the "Company")
Kalahari Metals Limited - Exploration Commences with Airborne Geophysics
Metal Tiger plc (LON:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to provide an update regarding Kalahari Metals Limited (“KML”) exploration progress. KML holds interests in seven highly prospective exploration licences covering 4,063km2 in the Kalahari Copper Belt, consisting of two 100% owned exploration licences and five exploration licences subject to a binding earn-in agreement with Triprop Holdings (Pty) Limited (“Triprop”). Under an investment agreement MTR have the right to acquire up to 50% of KML (announced 6 June 2018) giving MTR further exposure to largely unexplored ground, adjacent to significant recent discoveries in the highly prospective Kalahari Copper Belt.
Highlights
Exploration programme commenced for Cu-Ag mineralisation on the substantial KML landholding in the Kalahari Copperbelt in Botswana. Highly experienced New Resolution Geophysics (“NRG”) contracted to conduct airborne high resolution magnetic and electromagnetic surveys (“AEM”) on the prospective Okavango Project (Eastern Block) and Ngami Copper Project (Western Block) concessions. Airborne high resolution magnetic and AEM surveys are part of a proven cost-effective methodology for delineating copper mineralisation on the Kalahari Copper Belt. Both airborne surveys scheduled to start in July with processed results expected in September 2018. Surveys will cover a total of 16,700 line-km of magnetics and 1,982 line-km of AEM. Survey data will provide valuable information for mapping contacts such as the prospective D’Kar and Ngwako Pan Formations and prospective structural formations such as the T3 Dome and T20 Domes associated with MTR’s T3 joint venture project. Survey will seek to delineate the extension of copper mineralised contacts hosting neighbouring Cupric Canyon Capital’s Zone 5 Deposit (100.3 Mt @ 1.95% Cu & 20 g/t Ag), 5N and Zeta resources into KML’s Okavango Project area. Loci Environmental (PTY) Ltd the Botswana-based environmental consultants have been engaged to prepare and obtain environmental permitting in anticipation of a follow-on exploration drilling programme.Michael McNeilly, Chief Executive Officer of Metal Tiger plc, commented:
“We are very pleased to announce the start of what will, not doubt, be an exciting and hopefully rewarding exploration programme over the two Kalahari Metals Limited Okavango and Ngami Copper Projects in a world class copper region in Botswana.
With the Okavango Project located directly along strike from the major Cupric Canyon Capital copper deposits and the Ngami Project located to the north of our T3 Feasibility Stage joint venture project; Metal Tiger enjoys very significant exposure to the potential discovery of new copper and silver deposits.
We look forward to keeping our shareholders abreast of project developments and results as work efficiently progresses”.
Competent Person's Statement
The technical information contained in this disclosure has been read and approved by Mr Nick O'Reilly (MSc, DIC, MAusIMM, FGS), who is a qualified geologist who acts as the Competent Person under the AIM Rules - Note for Mining and Oil & Gas Companies. Mr O'Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Metal Tiger PLC to provide technical support.
For further information on the Company, visit: www.metaltigerplc.com:
| Michael McNeilly | (Chief Executive Officer) | Tel: +44 (0)20 7099 0738 | |||
| Keith Springall | (Finance Director & Company Secretary) | Tel: +44 (0)20 7099 0738 | |||
| Stephen Allen or Bhavesh Patel | RFC Ambrian Ltd (Nominated Adviser) | Tel +44 (0)20 3440 6800 | |||
| Charlie Cryer | RFC Ambrian Ltd (Joint Broker) | Tel +44 (0)20 3440 6800 | |||
| Nick Emerson | SI Capital (Joint Broker) | Tel: +44 (0)1483 413 500 | |||
| Gordon PooleJames Crothers | Camarco(Financial PR) | Tel: +44 (0)20 3757 4980 |
Notes to Editors:
Metal Tiger plc is listed on the London Stock Exchange AIM Market (“AIM”) with the trading code MTR and invests in high potential mineral projects with a precious and strategic metals focus.
The Company’s target is to deliver a very high return for shareholders by investing in significantly undervalued and/or high potential opportunities in the mineral exploration and development sector timed to coincide, where possible, with a cyclical recovery in the exploration and mining markets. The Company’s key strategic objective is to ensure the distribution to shareholders of major returns achieved from disposals.
Metal Tiger’s Metal Projects Division is focused on the development of its key project interests in Botswana, Spain and Thailand. In Botswana, Metal Tiger has a growing interest in the large and highly prospective Kalahari copper/silver belt. In Spain, the Company has tungsten and gold interests in the highly-mineralised Extremadura region. In Thailand, Metal Tiger has interests in two potentially near-production stage silver/lead/zinc mines as well as licences, applications and critical historical data covering antimony, copper, gold, silver, lead and zinc opportunities.
The Company has access to a diverse pipeline of new opportunities focused on the natural resource sector including physical resource projects, new natural resource centred technologies and resource sector related fintech opportunities. Pipeline projects deemed commercially viable may be undertaken by Metal Tiger or by an AIM or NEX Exchange (formerly ISDX) partner with whom the Company is engaged.
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