Natural resources investment firm Metal Tiger PLC (LON:MTR) said its partner in the Logrosan Minerals joint-venture is currently assessing and costing an exploration programme that will best extract value from the pair’s assets in Extremadura, Spain.
It has teamed up with Mineral Exploration Network (Finland) Ltd and the two are targeting gold and tungsten at the Logrosan Project and gold and antinomy at the Maria Project.
Metal Tiger said a “first-pass” mixed reverse circulation and diamond drilling programme is currently being costed for the two tungsten deposits, the Maria gold and antimony deposit and the three Logrosan gold anomalies.
“The addition of deep-drill intersections could potentially add significant value to our Spanish holdings,” said Metal Tiger in a stock exchange statement.
It follows an extensive early-stage exploration programme carried out in the first quarter across the properties and which saw it take and assay 7,345 samples for gold.
The latest work has effectively served to merge the two El Seranillo gold targets into a single five-kilometre long gold zone.
The team on the ground has also uncovered a new tungsten anomaly located three kilometres north-east and along strike from the Tungsten Target 2 deposit.
“The joint venture partners are now considering our options for the progression of the project,” Metal Tiger chief executive Michael McNeilly.
“Our joint-venture partner is in the process of preparing a proposal and budget of possible future work for Metal Tiger to consider.”