23rd Nov 2015 14:42
LONDON (Alliance News) - Metal Tiger PLC on Monday said it is drilling to extend a mineralised gold structure identified at the Logrosán gold and tungsten joint venture in the Extremadura region of western Spain.
"We are pleased to announce that the [rotary air blast] drilling on the Zorita Licence has intersected initial hard-rock gold mineralisation in the North Target area, and that the assay results on three drill profiles have defined a 185 metre long northeast-southwest trending mineralised trend, which is currently open at both ends," Chief Executive Cameron Parry said in a statement.
Parry said he was pleased to have identified gold mineralisation at such an early stage, making good on its initial objective and enabling drilling to build on the mineralisation already identified.
"This ratifies the professionalism of our joint venture partners in their historic work which provided the drill targets leading to this early positive drilling outcome. We are also pleased to confirm that the drilling and sampling is progressing well and to schedule," Parry said.
"As the drilling strategy is to sequentially drill profiles across each of the gold two broad target areas as defined by previous surface sampling and geophysics, we look forward to the prospect of building out the total strike of the gold trend as the programme continues and will provide further updates as appropriate going forward," Parry added.
Shares in Metal Tiger were up 2.9% at 0.952 pence on Monday afternoon.
By Samuel Agini; [email protected]; @samuelagini
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