logo-loader
viewMetal Tiger PLC

Metal Tiger’s Botswana joint venture delivers further positive drill results

It looks like T3 is going to be bigger and better, once these new results and 34 others are factored in

copper wires
T3 is already known to contain a significant copper resource

A second phase of drilling undertaken by MOD Resources, the company which holds the T3 copper project in Botswana in the joint venture with Metal Tiger PLC (LON:MTR) has returned positive results.

Among the latest intersections from T3 were 17.9 metres at 2% copper and 46 grams per tonne silver, 3 metres at 1.3% copper and 10 grams silver, and 16 metres at 1.3% copper and 22 grams silver.

READ: Metal Tiger picks up more MOD Resources shares in market transactions

Results from a further 34 diamond drill holes are pending but once they are in, Metal Tiger expects that an updated resource can be compiled by early June.

The results will also feed into the feasibility study to help increase confidence in the T3 Expansion Case model which assumes an ore processing rate of 2.5mln tonnes per year for around three years, before a ramp up to 4mln tonnes for a further eight years.

Quick facts: Metal Tiger PLC

Price: 1.325 GBX

AIM:MTR
Market: AIM
Market Cap: £20.21 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Metal Tiger PLC named herein, including the promotion by the Company of Metal Tiger PLC in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Metal Tiger's McNeilly details new funding arrangement and share buyback plans

Metal Tiger's (LON:MTR) Michael McNeilly discusses with Proactive London's Andrew Scott the plans around its share buyback programme.  MTR intends to buy back up to 155.9mln shares - equivalent to 10% of the current issued share capital of the company. McNeilly also talks through its...

on 19/12/19

2 min read