23rd May 2019 10:47
LONDON (Alliance News) - Natural resources-focused investor Metal Tiger PLC said Thursday that Kalahari Metals Ltd will be able next month to begin diamond drilling at its Ngami copper project in Botswana.
Metal Tiger currently holds a a 50% interest in Kalahari Metals.
The planned start of drilling follows the approval of the environmental management plan for the project by the Botswanan Department of Environmental Affairs, as well as the gazetting of the plan.
A drilling contract has been awarded to mining services firm OreZone Drilling, with mobilisation scheduled for the first week of June.
The first phase of drilling has an initial 2,100 metres planned. It will test priority fold hinge targets at Ngami. Following this phase, the rig will be moved to Kalahari's Okavango copper project, subject to approval of the environmental plan.
"With phase 1 drilling to commence in early June on three initial targets constituting prospective structural and geochemical anomalies, we are looking forward to moving the project up the value curve," said Metal Tiger Chief Executive Officer Michael McNeilly.
"Intersecting the mineralised contact in these early stage exploration holes will provide support for the target generation methodology, which we believe will justify a more aggressive follow-on drill programme to fully evaluate the potential of each of the targets," McNeilly added.
Shares in Metal Tiger were up 1.1% at 1.16 pence on Thursday.
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