7th Mar 2019 15:11
LONDON (Alliance News) - Metal Tiger PLC on Thursday said it has secured the results from Kalahari Metals Ltd's recently completed soil sampling programme at the Kitlanya and Ngami projects in Botswana.
Metal Tiger currently has a 34% interest in Kalahari and has the right to acquire up to further 50% holding for USD500,000. Kalahari holds interests in 12 highly prospective exploration licences covering a total area of 8,724 square kilometres in the Kalahari copper belt, Botswana.
The AIM-listed company, which invests in strategic natural resource opportunities, said the results indicate compelling new targets for follow-up in Kitlanya project, as well as expanding on drill targets identified in Ngami project.
In addition, reinterpretation of historical magnetic data in Kitlanya East introduces two new target areas, Metal Tiger said.
Kalahari has recently completed 3,410 soil samples over Kitlanya East, which have returned anomalous lead and zinc domains with low concentration copper anomalies associated with the northernmost fold-hinge target. Results provide support for potential mineralisation in the fold structure.
Meanwhile, re-processing and inversion of historical airborne electromagnetic data over Kitlanya West has potentially identified three folded conductive "dome" structures situated in the correct stratigraphy to host copper-silver mineralisation. These targets are considered excellent candidates for drill testing, Metal Tiger said.
Also, re-analysis of a selection of historical soil samples from Ngami project has identified a distinct zoned copper-lead-zinc anomaly.
"The results from recently completed soil sampling and re-interpretation of historical data over the Kitlanya project has provided compelling targets for drill testing," said Metal Tiger Chief Executive Michael McNeilly.
Metal Tiger shares were trading 1.7% lower on Thursday at 1.28 pence each.
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