Metal Tiger holds a 30% stake in several licence areas in joint venture with MOD Resources, which owns the other 70%. MOD – in which Metal holds a 10.5% stake – also owns the T3 copper project.
The pair are looking to develop satellite mines around T3 in order to leverage planned T3 infrastructure and provide increased production throughput to the planned processing plant at T3.
MOD is working to advance a “range of funding options” towards a decision to mine T3, Metal said.
The companies have listed their high priority work targets for the coming months.
Busy couple of months ahead
A drill programme is scheduled to get underway later this month at the T20 joint venture project which sits about 100km west of T3.
At the T3 expansion project, the JV will carry out staged drilling at the A4 prospect in order to build out from previous high-grade holes. The aim is to establish a JORC resource estimate there by the end of the year.
They added that “numerous” potential drill targets surrounding the planned T3 open-pit processing plant have been identified.
At T3, a 16-hole drill programme beneath the planned open-pit is expected to begin in early June, followed by further infill drilling, which will be used to define a JORC resource estimate for the underground part of the project.
Drilling is an ‘easy opportunity’ to increase value of assets
“We are pleased to report the JV strategy to seek to add further value at T3 and our wider holdings in the Kalahari Copper Belt in Botswana,” said Metal Tiger chief executive Michael McNeilly.
“It is anticipated that this will be achieved through the planned exploration work as we seek to discover new copper deposits as well as through the delineation of additional JORC Resources from known prospects which offer the potential to provide throughput to the planned T3 Open-Pit Processing Plant.”
He added: “We believe that further resource definition around the T3 project, as per today’s announced work programme, is an easy and low-risk opportunity to increase the value of Metal Tiger’s portfolio of assets in the Kalahari Copper Belt.”
Metal Tiger shares were down 5% to 1.2p on Tuesday morning.