Metal Tiger upbeat on drill results from Tshukudu

Strategic natural resource investor Metal Tiger updated the market on exploration activities at its joint venture, Tshukudu Exploration, in the Kalahari Copper Belt in Botswana on Thursday, reporting that the first phase of drilling at the 5km-long A4 dome had completed, with 18 of 20 holes intersecting copper mineralisation.

The AIM-traded company said the A4 dome lay 8km from the planned processing plant for its joint venture partner MOD Resources’ T3 Project.

Drill hole intersections included “significant” widths and grades of both vein and Ngwako Pan Formation (NPF) contact type mineralisation.

Metal Tiger said there was potential for A4 dome mineralisation to be open, with approximately one third - or 1.6km - of the prospective 5km strike drilled to date.

A high-level conceptual underground mining study, conducted by independent consultants Entech, gave “positive outcomes” for a combination of room-and-pillar and long hole open stoping mining of NPF contact-related mineralisation via a decline from surface.

The company said th decision to progress the A4 dome programme towards a potential mineral resource estimate was expected to be made early 2019.

“We are delighted to report the results of the first phase of drilling and a preliminary conceptual underground mining study on the A4 dome, both of which indicate the potential for another significant copper resource only 8km from the planned T3 Project processing plant,” said Metal Tiger chief executive officer Michael McNeilly.

“The findings provide strong support for a decision to step out the drilling to the rest of the A4 dome prospective target area and start to work towards a A4 dome maiden resource in early 2019.

“We look forward to updating shareholders on our progress in the new year.”