Metal Tiger PLC (LON:MTR) has updated investors on the joint venture with MOD Resources Limited (ASX:MOD) in Botswana where a prefeasibility study, for the T3 Open Pit project, is due to be completed in the coming days.
The company highlighted that the study, anticipated before the end of January, will assume a 2.5mln tonne per annum base case at T3 and it is intended that drilling will continue through the first half of 2018 to define resources at the project.
At the same time, it added that a major regional exploration programme is also underway focussing on targets outside the T3 area – testing areas such as the ‘T3 Dome’, ‘T20 Dome’ and ‘T Rex’ targets.
The plan is to replicate the approach taken in the discovery of the T3 Open Pit area such as soil sampling, geophysics & drill testing.
“We are pleased to outline the key elements of our comprehensive strategy to test the copper potential of our tenement holdings outside of the immediate T3 Project area,” said Michael McNeilly, Metal Tiger chief executive.
“Given the initial findings of the joint venture’s regional soil and geophysics programmes, and the increased knowledge of the structural controls and mineralisation styles likely linked to the new copper and zinc anomalies, we feel that the continued investment through regional drill testing is likely to yield exciting returns.”
McNeilly added: “Benefiting from the updated knowledge of the distribution and style of copper deposits in this part of the Kalahari Copper Belt, we consider it a strong possibility, that one or more of the regional anomalies, within our extensive tenement package, will turn out to be an as-yet undiscovered T3 style sediment hosted copper deposit.”