Shares in Metal Tiger (LSE:MTR) were up 1.5% today after the company announced drilling results from its Joint Venture project (JV) with MOD Resources Limited. The project in the Kalahari Copper Belt in Botswana is 30% owned by Metal Tiger. The company reported that six widely spaced diamond drill holes has been completed in the first phase programme at the A1 Dome, approximately 22km from the T3 Copper Project. Assay results confirm wide disseminated copper intersections in two drill holes.
Michael McNeilly, Chief Executive Officer of Metal Tiger, commented:
“We are very pleased to provide the results of first phase drilling at the A1 Dome. This programme was designed to test the copper potential of a 4km long section of the 12km long A1 prospective structural target identified from our previous airborne geophysics survey.
The presence of wide disseminated copper intersections and higher-grade vein mineralisation at the NPF stratigraphic contact have once again confirmed the model for discovering significant copper mineralisation below structural domes. The NPF hosts the majority of the known higher-grade copper mineralisation on the Kalahari Copper Belt and extends over 250km in northwest Botswana.
With drilling and sampling currently ongoing at the T23 Dome, 100km to the west of the A1 Dome, we look forward to providing further assay results in the near future.”
Further assay results from the recently completed 20-hole diamond drilling programme at the A4 Dome are expected to follow and the company believes these will increase the understanding of the T3 Expansion Project potential. Meanwhile, Drilling is currently progressing at the T23 Dome approximately 120km west of the T3 Project, where testing the potential for shallower depth NPF Contact related copper intersections copper along regional scale copper-belt strike extensions is ongoing. The T3 Open Pit Feasibility Study, towards a decision to mine, is also currently underway. This follows the Pre-Feasibility Study announced in January 2018 and the revised and upgraded T3 Copper/Silver Deposit Mineral Resource Estimate released in July.
Author: Stuart Langelaan
Disclosure: The author of this piece does not own shares in the company covered in this article.