Metal Tiger plc has provided an update on planned exploration work for the licence areas held in joint venture (“JV”) with MOD Resources Limited (MOD) (30% Metal Tiger: 70% MOD) and for the 100% MOD held T3 Copper Project (“T3”), in the Kalahari Copper Belt, Botswana.
The planned work programmes are part of a proposed wider growth strategy to add substantial value by systematically building mineral resources in potential T3 satellite deposits, with the aim of building a pipeline of satellite mines to leverage planned T3 infrastructure and provide increased and supplementary production throughput to the planned T3 Processing Plant. MOD and their advisers continue to advance a range of funding options towards a decision to mine T3, with interested parties.
The planned high priority work targets include: T20 Exploration Project (JV held), staged reverse circulation (“RC”) drilling and diamond core (“DD”) drilling at T23 Dome, 100km west of T3. Follow-up drilling, nine RC and four DD holes, along 4km of T23 Dome, commencing early May 2019; T3 Expansion Project (JV held); A4 Prospect, on 5km long A4 Dome, located 8km from T3. Staged drilling, six RC and one DD holes, planned to build out from hole MO-A4-003D, which intersected 52m @ 1.5% Cu & 14g/t Ag from 232m, including 15.5m @ 2.9% Cu & 42g/t Ag from 269m (announced on 6 August 2018), with the aim of preliminary JORC Resource definition in second half of 2019.
It also include numerous potential drilling targets identified within 25km radius of planned T3 Open-Pit Processing Plant, from geophysical and geochemical survey anomalies; and T3 Copper Project (100% MOD held), and Resource drilling for T3 Underground Project (below planned open-pit). Initial 16 DD holes, followed by further infill drilling, planned for JORC Resource definition, with work expected to commence early June 2019.
“We are pleased to report the JV strategy to seek to add further value at T3 and our wider holdings in the Kalahari Copper Belt in Botswana. It is anticipated that this will be achieved through the planned exploration work as we seek to discover new copper deposits as well as through the delineation of additional JORC Resources from known prospects which offer the potential to provide throughput to the planned T3 Open-Pit Processing Plant,” said Michael McNeilly, Chief Executive Officer of Metal Tiger.
“We believe that further resource definition around the T3 project, as per today’s announced work programme, is an easy and low-risk opportunity to increase the value of Metal Tiger’s portfolio of assets in the Kalahari Copper Belt.”
T20 Exploration Project Programme
The T20 Exploration Project covers an area of approximately 3,350km2, within the approximately 200km long, Central Structural Corridor that hosts T3 as well as the T23 Dome and A4 Domes.
T3 Expansion Programmes
A4 Dome (JV held)
A4 Dome is a structural formation located 8km from the planned T3 Open-Pit and the proposed Processing Plant, within the T3 Expansion Project area.
The A4 Dome drilling programme commenced in June 2018, the third hole MO-A4-003D intersected 52m @ 1.5% Cu & 14g/t Ag from 232m, including 15.5m @ 2.9% Cu & 42g/t Ag from 269m (announced on 6 August 2018). At the end of 2018, a total of 20 DD holes had been drilled with 18 of the 20 holes intersecting both vein hosted and Ngwako Pan Formation (“NPF”) copper mineralisation.
The Proposed A4 Dome drilling programme, which is expected to start during the second half of 2019, will seek to test for the widespread NPF contact mineralisation below the A4 Dome.