Metal Tiger PLC (LON:MTR, ASX:MTR) welcomed Sandfire Resources Ltd’s (ASX:SFR) announcement of a 34% increase in contained copper at the satellite A4 copper-silver deposit at Motheo in Botswana.
The natural resources investor holds a 3.4% stake in Sandfire and a 2% uncapped net smelter royalty over about 8,000km2 of Sandfire's licence holdings in the Kalahari Copper Belt including PL190/2008 (excluding the Motheo copper mine project area), which hosts the A4 deposit.
The deposit contains about 134,000 tonnes of copper and 6.6 million ounces of silver at the indicated and inferred level. The updated resource estimate represents a 34% increase in contained copper compared with the maiden inferred only estimate announced in December 2020.
Around 93% of the contained copper is now reported within the higher confidence indicated category and can be included in ore reserves estimates.