Metal Tiger plc (LON:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to provide an update regarding the Company’s Joint Venture project with partner MOD Resources Limited (ASX:MOD) in the Kalahari Copper Belt in Botswana (70% MOD Resources/30% Metal Tiger).
- Re-classification of the T3 Mineral Resource Estimate announced on 2 July 2018, by CSA Global, has resulted in a 13% increase in contained copper in the Indicated Resource Category (at a 0.4% Cu cut-off).
- Total Mineral Resource Estimate remains at 60Mt @ 0.98% Cu & 14g/t Ag (0.4% Cu cut-off) for a contained 590Kt copper and 27Moz silver metal.
- Indicated Mineral Resource contains 417Kt copper and 18.6Moz silver (0.4% cut-off) representing 70% of contained copper and 61% of the tonnes in the total Mineral Resource.
- Drilling ongoing to extend high-grade vein underground potential outside of planned T3 Pit and for strike extensions outside the T3 PFS Expansion Case Pit design.
Michael McNeilly Chief Executive Officer of Metal Tiger commented:
“Following on from the T3 Mineral Resource Estimate update announced on 2nd July, we are delighted to report that a Resource re-classification review has resulted in a substantial increase of contained copper in the, higher confidence, Indicated category.
The project’s technical team consider that the Resource upgrade may well support an increase in the design throughput of the planned T3 processing plant, and that there is now the potential that the Feasibility Study Ore Reserve could significantly exceed the Ore Reserve used in the PFS.”