7th Feb 2019 13:03
LONDON (Alliance News) - Natural resources-focused investor Metal Tiger PLC said on Thursday that Kalahari Metals Ltd, in which Metal Tiger holds the right to acquire a 50% stake, has made progress in the exploration of its copper projects.
By using phase two aerial electromagnetic and helicopter-borne magnetic geophysics surveys over the Ngami and Okavango Copper projects in Botswana have identified several drill-ready targets in both.
In the Ngami project, three dome targets have been identified as ready to be drill tested, and the Okavango project has had the fold closure target in the south west of the project extended to the western licence border.
"The increased resolution provided by the Phase-2 Airborne Electromagnetic and Magnetic survey data combined with Layered Earth inversion modelling has provided compelling structural and lithological targets for drill-testing," said Chief Executive Officer Michael McNeilly.
"We are actively reviewing KML's proposed diamond and reverse circulation drilling targets against the strong likelihood of adding significant value to the project through drilling. KML is awaiting sign off or feedback on the Environmental Management Plan shortly for the Ngami licence and further updates will be provided to shareholders in due course," McNeilly added.
Shares in Metal Tiger were down 0.8% at 1.265 pence on Thursday.
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