Metal Tiger Plc

Metal Tiger says investee company gets the green light to begin Botswana drill programme

AIM-listed Metal Tiger owns 50% of Kalahari Minerals

Drilling will start early next month on Kalahari Metals’ Ngami Copper Project

Metal Tiger PLC (LON:MTR) shares rose on Thursday said drilling will start early next month on Kalahari Metals’ Ngami Copper Project following environmental sign-off from the authorities in Botswana.

This first-phase, 2,100-metre programme will test what's called fold-hinge geology over three areas.

“Intersecting the mineralised contact in these early stage exploration holes will provide support for the target generation methodology, which we believe will justify a more aggressive follow-on drill programme to fully evaluate the potential of each of the targets,” said Metal Tiger chief executive Michael McNeilly.

Once this initial pass is completed, the drill rig will be deployed on the Okavango Copper Project.

Kalahari, meanwhile, has completed the work required to earn a 51% stake of Triprop Holdings, which owns five exploration licences.

AIM-listed Metal Tiger owns 50% of Kalahari.

In afternoon trading, Metal Tiger shares were 6.5% higher at 1.23p.

 -- Adds share price --



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Market: AIM
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