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Metal Tiger boosts indicated resource at T3, reserves could now exceed PFS model

The copper reserve at T3 could now turn out to be higher than what was modelled in the pre-feasibility study

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The economics at T3 already look good

Metal Tiger PLC (LON:MTR) has boosted the indicated resource at the T3 copper project in Botswana by 13% to 417,000 tonnes of copper and 18.6mln ounces of silver.

The indicated portion of the resource represents 70% of the total resource, which is currently estimated at 60mln tonnes of ore grading 0.98% copper and 14 grams silver, for a contained 590,000 tonnes of copper and 27mln ounces of silver.

WATCH: Metal Tiger very pleased with Pre-Feasibility Study on Botswana copper joint venture

“Following on from the T3 mineral resource estimate update announced on July 2nd, we are delighted to report that a resource re-classification review has resulted in a substantial increase of contained copper in the higher-confidence-indicated category,” said chief executive Michael McNeilly.

“The project’s technical team consider that the resource upgrade may well support an increase in the design throughput of the planned T3 processing plant, and that there is now the potential that the feasibility study ore reserve could significantly exceed the ore reserve used in the PFS.”

 

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Price: 25 GBX

AIM:MTR
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Market Cap: £38.31 m
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