Proactive Investors - Run By Investors For Investors

Metal Tiger adds more exploration acreage in Botswana copper belt

Metal Tiger now has options in Botswana over an area three-quarters the size of Wales
Metal Tiger has a big area to explore in Botswana

Metal Tiger PLC (LON:MTR) has doubled its exploration acreage in the Kalahari Copper Belt in Botswana.

An earn-in agreement has been signed with Resource Exploration and Development (RED) over five recently granted exploration licences covering 4,661sq km.

Metal Tiger’s 50% owned joint venture Kalahari Metals (KML) will pay US$100,000 to acquire up to 25% of the licences, with an option to increase this to 75% through a further payment of US$700,000.

KML’s exploration interests in the Kalahari belt more than double to 8,724 sq km with the option.

Tshukudu Metals, Metal Tiger separate joint venture with MOD Resources Limited (LON:MOD) has a similar amount of exploration acreage in Botswana.

The RED Licences comprise three licences immediately south of MOD Resources’ T3 Deposit and Cupric Canyon Capital’s Chalcocite Zone deposit while the other two are along strike of KML’s Ngwako Copper project next to the border with Namibia.

MOD Resources is developing the T3 Dome copper mine and is Metal Tiger’s long-standing partner in Botswana.

Tshukudu Metals is exploring the area around T3. Metal Tiger also has a 12.5% direct holding in MOD

Michael McNeilly, Metal Tiger's chief executive, said the option increases its exposure to highly prospective ground within the Kalahari Copper Belt, which across the separate KML and MOD joint ventures covers an area of around 16,000 sq km, an equivalent area to over three quarters the size of Wales.

"A regional soil sampling programme is due to start immediately over Kitlanya East [one of the new prospects] and airborne geophysics are planned," said McNeilly.

View full MTR profile View Profile

Metal Tiger Timeline

Related Articles

July 03 2018
The company’s goal is to be a leader in the battery metals sector, with cleaner cobalt in Australia
Ilmenite ore
January 02 2019
The upgraded resource, which now stands at 101mln tonnes at 7.1% ilmenite, comes as the group prepares to publish a pre-feasibility study in the first quarter of 2019
Gold  nuggets
January 28 2019
Maverix’s sole aim is to deliver shareholder returns through building an attractive precious metals royalty and streaming portfolio

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use