Metal Tiger upbeat on Southern Gold drilling results
Natural resources investor Metal Tiger updated the market on its investment in Southern Gold on Wednesday, with the latter having released drilling results from its Aphae project in South Korea.
The AIM-traded firm holds a 17.1% stake in Southern Gold.
It said the drilling showed several high to moderate grade gold and silver intersections, including broad near surface gold mineralisation.
The high to moderate-grade gold-silver intersections included 0.21 metres at 107.5 grams of gold per tonne and 166 grams of silver per tonne, and 0.17 metres at 15.9 grams of gold per tonne and 23.7 grams of silver per tonne.
It also reported one metre at 5.07 grams of gold and 13.8 grams of silver per tonne, 0.86 metres at 5.49 grams of gold and 59 grams of silver per tonne, and 0.18 metres at 5.92 grams of gold and 99 grams of silver per tonne.
Broad near surface gold mineralised breccia was also intersected, including 8.12 metres at 1.26 grams of gold and 7.8 grams of silver per tonne in APDD001, and 40.72 metres at 0.59 grams of gold and 14.1 grams of silver per tonne in APDD003.
“Southern Gold also plans to implement a follow-up drilling programme and ground magnetic survey, to target extensions with large project scale prospectivity becoming apparent,” the Metal Tiger board said in its statement.
At 1618 BST, shares in Metal Tiger were down 3.18% at 22.73p.