Metal Tiger plc (LON:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, has today provided an update regarding Kalahari Metals Limited (“KML”) exploration progress. KML holds interests in seven highly prospective exploration licences covering 4,063km2 in the Kalahari Copper Belt, consisting of two 100% owned exploration licences and five exploration licences subject to a binding earn-in agreement with Triprop Holdings (Pty) Limited. Under an investment agreement MTR have the right to acquire up to 50% of KML (announced 6 June 2018) giving MTR further exposure to largely unexplored ground, adjacent to significant recent discoveries in the highly prospective Kalahari Copper Belt.
Highlights
- Exploration programme commenced for Cu-Ag mineralisation on the substantial KML landholding in the Kalahari Copperbelt in Botswana.
- Highly experienced New Resolution Geophysics (“NRG”) contracted to conduct airborne high resolution magnetic and electromagnetic surveys (“AEM”) on the prospective Okavango Project (Eastern Block) and Ngami Copper Project (Western Block) concessions.
- Airborne high resolution magnetic and AEM surveys are part of a proven cost-effective methodology for delineating copper mineralisation on the Kalahari Copper Belt.
- Both airborne surveys scheduled to start in July with processed results expected in September 2018.
- Surveys will cover a total of 16,700 line-km of magnetics and 1,982 line-km of AEM.
- Survey data will provide valuable information for mapping contacts such as the prospective D’Kar and Ngwako Pan Formations and prospective structural formations such as the T3 Dome and T20 Domes associated with MTR’s T3 joint venture project.
- Survey will seek to delineate the extension of copper mineralised contacts hosting neighbouring Cupric Canyon Capital’s Zone 5 Deposit (100.3 Mt @ 1.95% Cu & 20 g/t Ag), 5N and Zeta resources into KML’s Okavango Project area.
- Loci Environmental (PTY) Ltd the Botswana-based environmental consultants have been engaged to prepare and obtain environmental permitting in anticipation of a follow-on exploration drilling programme.
Michael McNeilly, Chief Executive Officer of Metal Tiger plc, commented: “We are very pleased to announce the start of what will, not doubt, be an exciting and hopefully rewarding exploration programme over the two Kalahari Metals Limited Okavango and Ngami Copper Projects in a world class copper region in Botswana.
With the Okavango Project located directly along strike from the major Cupric Canyon Capital copper deposits and the Ngami Project located to the north of our T3 Feasibility Stage joint venture project; Metal Tiger enjoys very significant exposure to the potential discovery of new copper and silver deposits.
We look forward to keeping our shareholders abreast of project developments and results as work efficiently progresses.”
