leadf
logo-loader
viewMetal Tiger PLC

Metal Tiger shares rise as it hits more copper to the west of the well-established T3 project in Botswana

Establishing significant mineralisation at the new targets will add significant scale to the Botswana licence

1528786236_copper-periodic-table.jpg
The resource at T3 is already known to contain 409,000 tonnes of copper

Metal Tiger PLC (LON:MTR) shares rose on Tuesday after the group said that it and joint venture partner MOD Resources have intersected copper mineralisation in the first drillhole at the A4 Dome target, the first of seven ‘buried domes’ that will be drilled within the T3 Dome Complex in Botswana.

A4 Dome is around five kilometres long and is located six kilometres west of the now well-established T3 Project.

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

Drilling on the first hole is currently ongoing with the current depth at 490 metres and the extracted drill core still requires detailed geological logging, sampling and assay results before the significance of the copper mineralisation can be fully determined.

Two additional drill rigs are being deployed to test other targets within the more structurally complex core of the A4 Dome to the west.7

“It is highly encouraging that the first drill hole to drilled at the A4 Dome has intersected copper mineralisation, similar to T3, as predicted by the electromagnetic geophysics data modelling and interpretation,” said Michael McNeilly, chief executive of Metal Tiger.

Ina note to clients, analysts at RFC Ambrian said: “This announcement is yet another reminder of the prospectivity of the exploration package that the JV controls along 200km of the Kalahari Copper Belt.”

The City broker reiterated a ‘buy’ rating and 3.6p target price on the stock.

In morning trading, Metal Tiger shares were 2% higher at 2.6p.

 -- Adds analysts comment, share price --

Quick facts: Metal Tiger PLC

Price: 24.366 GBX

AIM:MTR
Market: AIM
Market Cap: £37.34 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

Morning report: FTSE falls as traders get back to their desks

The FTSE is lower after a long weekend despite UK factory output rising by the fastest pace in more than six years, albeit from a low level as businesses begin to get back to work.  Movers and shakers include AstraZeneca (LON:AZN) which has received EU approval for Imfinzi which is to...

2 weeks, 6 days ago

2 min read