15th Sep 2015 09:35
LONDON (Alliance News) - Metal Tiger PLC Tuesday said its joint venture partner in Thailand has completed infill soil sampling which has identified gold and antimony mineralisation that "warrants further investigation".
Metal Tiger said its partner on the Chanthaburi joint venture project, South East Asia Exploration and Mining Co Ltd, has completed the infill soil sampling programme, which has identified gold mineralisation in the northern half of the licence and antimony mineralisation in the centre of the licence. Antimony is usually considered as a lead toward gold or silver mineralisation.
"The infill survey lines have extended the strike length of the antinomy anomaly to 1.0 kilometre, with the soil grid open at both ends and the anomalous gold seen in the north of the exclusive prospecting licence in the first phase of soil sampling has been repeated in the consecutive in-fill lines, warranting the renewal of the licence and further study," said Chief Executive Cameron Parry.
Metal Tiger has therefore applied for the exclusive prospecting licence to be extended, and a further update will be released once this has been awarded.
"We trust that this will put us in good stead with the Thai authorities for processing our current renewal and for any future license applications," said Parry. "We look forward to providing further updates with regard to Thailand activities in due course."
Metal Tiger shares were trading flat on Tuesday morning at 0.900 pence per share.
By Joshua Warner; [email protected]; @JoshAlliance
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