Metal Tiger PLC (LON:MTR) said its investee company Kalahari Metals Limited (KML) has reported that results from recently completed soil sampling and re-interpretation of historical data over the Kitlanya joint venture copper project has provided compelling targets for drill testing.
The AIM-listed investor in strategic natural resource opportunities confirmed that the recent work completed on the Kitlanya project satisfies the first earn-in option for KML to acquire 25% of the project from Resource Exploration and Development Limited (RED), as detailed its announcement of 30 November 2018.
The company said e-interpretation of magnetic data in Kitlanya East has introduced two new target areas as anticlinal structures rather than historically interpreted synclines.
This is supported by historical soil sampling and drill data, effectively placing the prospective mineralised contact in a fold hinge setting at relatively shallow depths under thin cover, it added. Metal Tiger noted that the northernmost target is situated 5km south of MOD Resources Limited’s (LON:MOD) T3 deposit.
The group also pointed out that re-processing and inversion of historical airborne electromagnetic (AEM) data over Kitlanya West has potentially identified three folded conductive ‘dome’ structures situated in the correct stratigraphy to host copper-silver mineralisation, which are considered excellent candidates for drill testing.
It also added that re-analysis of a selection of historical soil samples from KML’s Ngami Copper Project (NCP). using low concentration partial digest Terraleach geochemistry has identified a distinct zoned copper-lead-zinc anomaly associated with a priority fold-closure target from recent AEM interpretation.
Michael McNeilly, Metal Tiger’s chief executive officer commented: “We are actively reviewing KML’s proposed diamond and reverse circulation drilling targets as they relate to this additional interpretation and hope to be able to drill targets at NCP in the near future as well as define drill targets at Kitlanya West and Kitlanya East.“