Sandfire Resources Update
(“Metal Tiger” or the “Company”)
Sandfire Resources Update
(AIM:MTR), the London Stock Exchange AIM listed investor
in natural resource opportunities, is pleased to provide an update in
relation to its investment in Sandfire Resources (“Sandfire”), which
also relates to the Company’s uncapped (with no buyout provision) 2% , which it holds over circa 8,000km of
prospective ground, held by Tshukudu Exploration (the “Royalty”).
Metal Tiger holds 6,646,990 shares in Sandfire representing
approximately 3.64% of Sandfire’s issued share capital. As announced on
, 1,675,125 of the Sandfire shares the Company holds are
subject to an equity derivative collar financing arrangement with a
global investment bank.
Sandfire has today released the following update in relation to exploration work at Tshukudu:
The Company notes that in respect of the A4 discovery, located 8km away from the T3 project, and over which Metal Tiger has the Royalty, Sandfire provided the following highlight drill results:
MO-A4-035D: 18m @ 5.2% Cu and 124g/t Ag from 77m down-hole (uncut), or
18m @ 3.9% Cu and 124g/t Ag from 77m down-hole (15% top-cut); and
4.4m @ 1.2% Cu and 26g/t Ag from 98m down-hole; and
6.6m @ 1.5% Cu and 39g/t Ag from 112.5m down-hole (15% top-cut).
MO-A4-036D: 21.5m @ 2.4% Cu and 46g/t Ag from 67m down-hole; and
10m @ 0.9% Cu and 20g/t Ag from 102m down-hole; and
3m @ 2.3% Cu and 25g/t Ag from 133m down-hole.
MO-A4-039D: 24m @ 2.1% Cu and 51g/t Ag from 86.6m down-hole; including:
8.1m @ 5.2% Cu and 123g/t Ag from 93m down-hole; and
5m @ 1.0% Cu and 24g/t Ag from 142m down-hole; and
1.8m @ 1.6% Cu and 24g/t Ag from 262m down-hole.
MO-A4-040D: 21m @ 1.1% Cu and 18g/t Ag from 102m down-hole; and
[email protected] 2.0% Cu and 33g/t Ag from 172m down-hole.
MO-A4-043D: 18m @ 2.0% Cu & 38g/t Ag from 105m down-hole; and
6.5m @ 2.1% Cu & 35g/t Ag from 174m down-hole; and
5m @1.7% Cu & 31g/t Ag from 245m down-hole.
MO-A4-046D: 29.2m @ 1.0% Cu and 18g/t Ag from 70.8m down-hole; and
7.8m @ 2.0% Cu and 43g/t Ag from 110m down-hole; and
12m @ 1.1% Cu and 21g/t Ag from 123m down-hole.
The Company is pleased to note that resource drilling is being
undertaken by Sandfire at the A4 discovery on a 50m by 50m drill
pattern, with good continuity interpreted along strike based on the
assays received to date. As set out in the Company’s announcement of 2
in respect of the Company’s investment in , there are currently restrictions in place in due to
the Covid-19 pandemic, however, Sandfire has today confirmed that
drilling at the A4 discovery is planned to resume once government
restrictions have been lifted. The Company is also pleased to note that
Airborne Electromagnetic (AEM) data for both the T3 and A4
doubly-plunging anticlines (“domes”) has been re-processed and
re-interpreted by Sandfire, resulting in the identification of several
new high-priority structural targets for drilling.
, Chief Executive Officer of ,
“Sandfire’s A4 drilling results from Tshukudu are very encouraging
and we look forward to drilling resuming in , both for Sandfire
and Kalahari Metals.
Sandfire has also today released the following updates (links to the announcements below):
For further information on the Company, visit::www.metaltigerplc.com
Notes to Editors:
is admitted to the AIM market of the London Stock
Exchange AIM Market ("AIM") with the trading code MTR and invests in
high potential mineral projects with a base, precious and strategic
The Company's target is to deliver a high return for shareholders by
investing in significantly undervalued and/or high potential
opportunities in the mineral exploration and development sector. Metal
Tiger has two investment divisions: and Direct Projects.
invests in undervalued natural
resource companies. The majority of its investments are listed on AIM,
the TSX and the ASX, which includes its 3.64% interest in (ASX: SFR). The Company also considers selective
opportunities to invest in private natural resource companies, typically
where there is an identifiable path to IPO. Through the trading of
equities and warrants, Metal Tiger seeks to generate cash for investment
in the Direct Projects Division.The Direct Equities Division
is focused on the development of its
key project interests in , where Metal Tiger has a growing
interest in the large and highly prospective Kalahari copper/silver belt
through its interest in .The Direct Projects Division
The Company actively assesses new investment opportunities on an on-going basis and has access to a diverse pipeline of new opportunities in the natural resources and mining sectors. For pipeline opportunities deemed sufficiently attractive, Metal Tiger may invest in the project or entity by buying publicly listed shares, by financing privately and/or by entering into a joint venture.
- Quarterly Report
- Quarterly Report Presentation
- DeGrussa Ore Reserve and Mineral Resource Update
|(Chief Executive Officer)||Tel: +44 (0)20 7099 0738|
|(Chief Investment Officer)|
|Strand (Nominated Adviser)||Tel +44 (0)20 7409 3494|
|Arden Partners plc (Broker)||Tel: +44 (0)20 7614 5900|
|Camarco (Financial PR)||Tel: +44 (0)20 3757 4980|
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