9th May 2016 06:49
LONDON (Alliance News) - Metal Tiger PLC Monday said it has found a new copper target in Thailand through its country-wide exploration programme that is being conducted by its subsidiary, and has submitted applications for licences in an attempt to snap up the prospect.
Metal Tiger's 90%-owned subsidiary, Southeast Asia Exploration & Mining, has located the target within the Prachinburi province of the country, which lies around 120 kilometres from the capital Bangkok.
Metal Tiger said it has lodged three special prospecting licence applications to authorities, which together cover an area of 48 square kilometres. If granted, the licences would last for five years.
The company said the areas that have been chosen were based on ground reconnaissance, sampling, and interpretation of magnetic and radiometric geophysics data.
"It is believed that this region of Thailand represents an extension of the highly prospective Loei-Phetchabun Gold Belt further to the north," said Metal Tiger. "The addition of these three [licenses] brings the total in SEAM's Thai exploration portfolio to thirteen in four different areas of Thailand. The company will continue to work with the Department of Primary Industry and Mines to have the licenses granted in a timely manner."
Paul Johnson, chief executive of the company, said: "The board of Metal Tiger will be in Thailand shortly to further various initiatives in-country and we anticipate further announcements in the near future with regard to our work in Thailand."
By Joshua Warner; [email protected]; @JoshAlliance
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