Metal Tiger PLC (AIM:MTR, OTC:MRTTF, ASX:MTR) relayed a positive update from Sandfire Resources Ltd which reported a new updated measured, indicated and inferred mineral resource estimate, for its MATSA project in the Iberian Pyrite Belt, southern Spain,
Sandfire (1.72% owned by Metal Tiger) has estimated some 147.2mln tonnes of resource at 1.4% copper, 3% zinc, 1% lead and 39.6 grams per tonne silver.
That amounts to some 2.1mln tonnes of contained copper, 4.4mln tonnes of zinc, 1.5mln tonnes of lead and 187.6mln ounces of silver.
“The completion of our first-ever Mineral Resource Estimate for MATSA is a tremendous achievement which confirms the world-class nature of the asset, validates our due diligence assessment prior to the acquisition, and sets a strong long-term platform for growth,” said Sandfire chief executive Karl Simich.