leadf
logo-loader
viewMetal Tiger PLC

Metal Tiger notes Southern Gold unearths high grade results at Aphae

“There is a lot going on geologically at Aphae and triple figure gold grades in drill core from a maiden greenfields drill programme certainly grabs your attention,” said Southern Gold's MD Simon Mitchell

Metal Tiger PLC - Metal Tiger: Southern Gold unearths high grade results at Aphae

Metal Tiger PLC (LON:MTR) told investors that exploration at Southern Gold’s Aphae project, in South Korea, has unearthed high-grade gold intersections.

Drilling at Aphae has shown several high to moderate grade gold/silver intersections including broad near-surface gold mineralisation, Metal Tiger highlighted. A follow-up drill program and ground magnetic surveying will target extensions.

READ: Southern Gold updates on Gubong and Kochang joint ventures

Metal Tiger noted that large project scale prospectivity is now becoming apparent in the initial exploration results.

Highlight drill results included 1 metre at a grade of 5.07 grams per tonne (g/t) gold and 13.8 g/t silver. Shorter but higher grade intersections included 0.21 metres at 107.5 g/t and 166 g/t silver. The near-surface mineralisation included 8.12 metres at 1.26 g/t and 7.8 g/t silver.

Metal Tiger owns a 17.1% shareholding in Southern Gold.

“There is a lot going on geologically at Aphae and triple figure gold grades in drill core from a maiden greenfields drill programme certainly grabs your attention,” Simon Mitchell, Southern Gold managing director said in a statement.

“With high-grade gold and silver, elevated lead, zinc, copper, arsenic, and the fact that we appear to have several phases of mineralisation, indicate a fertile system, potentially with more surprises to come. Our technical team see a lot of potential at Aphae and it reinforces the theory that south-western South Korea is an unfolding gold camp.

“Now we have a lot of follow up work to do on the ground as the wider Aphae project area has not been systematically traversed or sampled and we believe there could be potential beyond the immediate mine workings,” he added.

Quick facts: Metal Tiger PLC

Price: 25 GBX

AIM:MTR
Market: AIM
Market Cap: £38.31 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Metal Tiger PLC named herein, including the promotion by the Company of Metal Tiger PLC in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Morning report: FTSE falls as traders get back to their desks

The FTSE is lower after a long weekend despite UK factory output rising by the fastest pace in more than six years, albeit from a low level as businesses begin to get back to work.  Movers and shakers include AstraZeneca (LON:AZN) which has received EU approval for Imfinzi which is to...

3 weeks, 5 days ago

2 min read