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Metal Tiger ups Botswana effort after bumper grades

Last updated: 11:23 22 Jun 2016 BST, First published: 11:47 22 Jun 2016 BST

Picture of copper wires
Targets in Botswana are 'burgeoning'

Metal Tiger PLC’s (LON:MTR) partner is to bring a fourth deep drilling rig on site at its Botswana Copper Belt prospect to explore ‘a burgeoning’ number of high grade targets.

MOD Resources (ASX:MOD), the partner, is currently carrying out the exploration and after analysing latest samples said the length of the previously identified soil anomaly at the T3 prospect had risen by 4km to 12km.

The surface samples were taken to the west of the initial exploration zone and follow a 3Km extension to the east announced last week.

In addition, a diamond drilling programme at T3 intersected exceptionally high silver and copper grades at the eastern border.

High silver grades usually indicate very high grade copper is present as well, said the company.

Assays from the latest three holes averaged copper between 1-2%, but there were some bonanza patches within that.

One hole, MO-G-09D, showed silver veins with grades of 199g/t, 244g/t and 363g/t Ag and copper at 8.36%, 10.2% and 21.5%.

Further drilling is required to determine the extent of these high grade Cu/Ag veins, said Metal Tiger, although chief executive Paul Johnson thinks the best could be yet to come.

Speaking exclusively to Proactive, Johnson said: “I don’t think that that is necessarily the limit of it, it could be even higher potentially.”

“[The high grades] are starting to surprise us, as they should do, because this is unusual, you don’t get that level of mineralisation very often.”

The current programme for T3 is 34 holes, for which assays have come back for 18. All the holes drilled so far have hit copper.

A maiden JORC compliant resource based on the drilling programme is scheduled to be published in the third quarter of this year.

“The JV has so far identified a zone of soil anomalies for over 12km along the T3 Dome and the assay results now received from three diamond holes have confirmed very high silver and copper grades up to 363g/t silver and 21.5% copper,” Johnson added.

“The JV will shortly have five rigs on site and the march towards resource definition continues apace.

“More exploration updates will flow as we continue to build our understanding of this substantial Kalahari Copper Belt opportunity.”

The joint venture is split 70/30 MOD/Metal Tiger.

Shares rose 1% to 3.11p.

-- Update: CEO comment --

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