10th Jun 2015 07:18
LONDON (Alliance News) - Metal Tiger PLC and Kibo Mining PLC Wednesday said the work programme has now started at their joint venture Morogoro gold project in Tanzania.
The companies had previously said that the initial exploration work would investigate gold mineralisation anomalies that had previously been identified, including assay testing of existing samples for gold and multi-element mineralisation. The results of the work are due early in the third quarter of 2015.
"The approach we have agreed with Kibo Mining is specifically designed to rapidly assess the prospective gold mineralisation and enable both Metal Tiger and Kibo to efficiently deliver results to market, and cost effectively determine the potential of the Morogoro Project," Metal Tiger Chief Executive Cameron Parry said.
"The launch of ground exploration at Morogoro in Tanzania, combined with on-going exploration in Spain and Thailand, means Metal Tiger now has interests in three active operations, each of which will deliver on-going news flow to the market," he added.
Metal Tiger said it it expects to release news about additional assay testing following ongoing Tungsten drilling at Logrosán in Extremadura, Spain and the findings from the first stage of the gold and antimony exploration programme in Chanthaburi, Thailand shortly.
Metal Tiger shares were down 2.6% at 0.950 pence early Wednesday, while Kibo Mining shares were up 0.3% at 4.89 pence.
By Steve McGrath; [email protected]; @stevemcgrath1
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