Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Electromagnetic survey identifies new anomalies at Metal Tiger’s Kalahari copper belt project

The new anomalies are similar to those found at the T3 deposit at the copper-silver project
survey plane
Metal believes AEM is a valid way of identifying T3-type deposits

An airborne electromagnetic survey carried out over Metal Tiger PLC’s (LON:MTR) Kalahari copper-silver project in Botswana has identified more “distinctive” anomalies similar to that found at the T3 deposit.

A scoping study last year suggested the T3 deposit was host to more than 210,000 tonnes of copper and 6.65mln ounces of silver.

Metal, along with its joint venture (JV) partner MOD Resources, said the anomalies identified could be potential targets for vein-hosted mineralisation.

Full interpretation of the EM data is still ongoing to prioritise these anomalies for drill testing.

“We are delighted to report that high-resolution airborne electro-magnetic geophysics appears to be an important new tool in the JV’s copper exploration arsenal, successfully identifying a distinct geophysical anomaly consistent with the T3 Deposit,” said Metal Tiger chief executive Michael McNeilly.

“We are hopeful that AEM geophysics could now hold the key to fast tracking the localisation of further T3 Type copper/silver deposits in what is an extensive, yet highly prospective, concession portfolio.”

There was also some good news from the Botswana Department of Environmental Affairs, which has authorised the T3 environmental  management plan to proceed to a four-week public review period which will start tomorrow (7 July).

“It is highly encouraging that the DEA has authorised the T3 Environmental Management Plan which is now entering a 4-week public review period,” McNeilly added.

“As the precursor for granting, should this be successful it will allow for drilling to recommence at T3 and surrounding targets.”

Shares in Metal Tiger were flat at 2p.

View full MTR profile View Profile

Metal Tiger Timeline

Related Articles

Gold-plus-dollars.jpg
April 25 2017
The acquisition of the Hellyer mine looks set to be transformational for NQ Minerals
coffee-1154353_1920.jpg
February 27 2017
Last week, Royal Road brought in C$3.6mln to finance its Colombia plans and anticipated operations in Nicaragua
picture of electric car
June 19 2017
Finncap estimates the shares are worth 11p on a risked basis or more than double the current share price.

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use