logo-loader
viewMetal Tiger PLC

Metal Tiger hails start of major drilling campaign at T3 dome complex

The T3 Project is located on the Kalahari Copper Belt in northern Botswana and is part of the MOD Resources/Metal Tiger joint venture Botswana Copper/Silver Project

Deer in Botswana
Drilling will test the underlying prospective Ngwako Pan Formation contact that hosts other substantial copper deposits in the eastern part of the Kalahari Copper Belt

A major drilling programme has commenced at the T3 Dome complex on the Kalahari copper belt in Botswana, Metal Tiger PLC (LON:MTR) revealed.

The company has a 30% stake in the joint venture (JV) that is exploring the copper/silver project.

READ: Metal Tiger retains focus on Kalahari copper belt amid rapid activity​

Metal Tiger said airborne electromagnetic (AEM) geophysics interpretation points to a series of large conductive domes, spread over a wide area. The complex has similar geometries and internal structures to the T-Rex Dome that underlies the T3 deposit.

In the drilling campaign, seven buried domes will initially be drilled, with around 60 drill holes planned for phase one of the campaign.

Metal Tiger added that drilling is in progress at the A4 dome, which is eight kilometres (km) west of the T3 deposit, and at the A1 dome, which is 20 km north-east of T3.

“Using the latest data processing and interpretation techniques the JV’s geophysical contractors have identified a series of prospective structural dome targets within the, 1,000km2, T3 Dome complex,” said Michael McNeilly, the chief executive officer of Metal Tiger.

“With cross-sectional profiles similar to the T-Rex dome, the feature associated with the T3 deposit, these new domes will now be drill tested to confirm they coincide with the favourable geological units and structures associated with the T3 mineralisation. This new drilling programme has the potential to deliver a pipeline of exciting results and hopefully additional T3 type deposits,” he added.

Julian Hanna, managing director of MOD Resources, the majority partner in the JV, said the new drilling targets were “compelling”.

“What is extraordinary is that the EM [electromagnetic] interpretation appears to have defined seven large 'buried' conductive domes, several with very similar geometries and internal structures to the T-Rex Dome which underlies T3,” Hanna said.

Shares in Metal Tiger were up 1.2% at 2.18p.

Quick facts: Metal Tiger PLC

Price: 1.33 GBX

AIM:MTR
Market: AIM
Market Cap: £20.42 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...

4 weeks, 2 days ago

RNS

Transaction in Own Shares

18 hours, 7 minutes ago

Transaction in Own Shares

1 day, 18 hours ago

Transaction in own shares

1 week, 1 day ago

Transaction in own shares

1 week, 2 days ago

Transaction in own shares

1 week, 3 days ago

Transaction in own shares

2 weeks, 1 day ago

Directorate change

2 weeks, 2 days ago

Transaction in own Shares

2 weeks, 2 days ago

2 min read