Natural resources investor Metal Tiger PLC (LON:MTR) said drilling has started on Kalahari Metals Ltd's Kitlanya East copper and silver project in Botswana
Metal Tiger holds a 50.01% interest in Kalahari Metals with Australian listed Cobre Ltd holding the remainder.
The drilling programme will target structurally controlled trap-sites identified in airborne electromagnetic and detailed magnetic geophysics, soil sampling and stratigraphic drilling.
These targets share commonalities to the Sandfire Resources (ASX:SFR) T3 and A4 deposits located immediately north of the project boundary.
“We are very pleased to report that following the efficient mobilisation of equipment and personnel to the KIT-E project site, drilling has now commenced at the start of an exciting new drilling programme, focussed on the discovery of new copper/silver deposits, located in close vicinity to existing mine infrastructure, which is currently under construction and commissioning, in the Kalahari copper belt,” said Metal Tiger chief executive Michael McNeilly.
“This drilling program will significantly enhance our understanding of the Kit-E licence area and drive significant value for shareholders. We are hopeful that this work will continue Metal Tiger’s successful track record investing in copper discoveries in Botswana and we look forward to sharing further updates and results as the programme progresses.”
Kalahari Metals holds interests in 12 highly prospective exploration licences covering a total area of 8,595 kilometres.
Metal Tiger holds a 2% net smelter royalty over all of Kalahari's wholly owned licences, being seven licences covering, in aggregate, 6,650 kilometres.