After a short summer break, exploration drilling is set to resume at the Logrosán gold and tungsten project in Extremadura, Spain, held in joint venture between Metal Tiger (LON:MTL) and UK-based special purpose vehicle Logrosán Minerals.
Drilling earlier this year at Logrosán identified significant tungsten mineralisation at targets 1 and 2, but this time round the target is gold.
Rotary air blast drilling (RAB) will concentrate on two anomalies already identified by pan sampling and geochemical work on the Zorita license.
Once complete the data will be analysed and further up drilling planned.
The company also said that it has agreed commercial terms to participate in an additional joint venture and that it is awaiting the requisite regulatory and procedural approvals before making a full announcement to the market.
If such a deal is announced it will be the latest in a string of deals Metal Tiger has cut since it turned a profit of approximately £1mln on a timely investment in Kibo Minerals (LON:KIBO) last year.
The company already has exposure to gold and uranium in Tanzania, and gold, copper and antimony in Thailand. Expect more shortly.