LONDON--(BUSINESS WIRE)--
Metal Tiger plc
("Metal Tiger" or the "Company")
Southern Gold – Quarterly Activities Report
Metal Tiger plc (AIM: MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to announce that Southern Gold Limited (“Southern Gold”), in which Metal Tiger owns an approximate 17.1% equity interest, has published a Quarterly Activities Report for the Quarter ended 30 June 2020.
Highlights:
-
Aphae Project: 720.46m of diamond drilling in four holes now completed
- The fourth hole, APDD004, intersected a narrower zone (~10m) of weakly sulphidic milled matrix supported monolithic (granite) breccia
- Assays results are now pending from the drilling programme
-
Deokon Project: drilling of Fourth hole now commenced at Shin Hill, Deokon, following the completion of three holes for a total of 773.02m being drilled to date
- Intersected quartz-sulphide-carbonate veining and flood breccia (lode) minersalisation down-dip of the historical workings
- Assays results are now pending from the drilling programme
- Beopseongpo Project: completed 1,230.49m of diamond drilling in five holes at ‘Hand of Faith’ and ‘Spider’ prospects. Peak assay received was 0.24m @ 1.71g/t gold at ‘Hand of Faith’ with the project ranking being downgraded
- Regulatory approvals to drill at depth at Weolyu Project are now well advanced with drill programme planning and logistics for Q1 FY21 completed, including a diamond drill programme at the Dokcheon Project
- New target area close to the operating Eunsan Gold Mine, Jangwhal Project, now secured with tenement applications
Southern Golds’ full Quarterly Activities Report including maps of prospect locations can be found here:
https://www.asx.com.au/asxpdf/20200730/pdf/44kzs3phf3gqyr.pdf
Michael McNeilly, Chief Executive Officer of Metal Tiger, commented:
“Initial results from Southern Gold’s drilling at the Aphae and Deokon projects demonstrate positive results. We look forward to completion of drilling and the results of the assays which will likely give further understanding to the value of the Deokon and Aphae Projects.
“Further to this, we are pleased to also see regulatory approvals at the Weolyu Project advancing, which, if accepted, will see Southern Gold’s planned drilling programme beginning in Q1 2021.”
For further information on the Company, visit: www.metaltigerplc.com
Enquiries:
Michael McNeilly |
(Chief Executive Officer) |
Tel: +44 (0)20 7099 0738 |
Mark Potter |
(Chief Investment Officer) |
|
Richard Tulloch James Dance Jack Botros |
Strand Hanson Limited (Nominated Adviser) |
Tel +44 (0)20 7409 3494 |
Paul Shackleton Steve Douglas |
Arden Partners plc (Broker) |
Tel: +44 (0)20 7614 5900 |
Gordon Poole James Crothers Hugo Liddy |
Camarco (Financial PR) |
Tel: +44 (0)20 3757 4980 |
Notes to Editors:
Metal Tiger PLC is admitted to the AIM market of the London Stock Exchange AIM Market ("AIM") with the trading code MTR and invests in high potential mineral projects with a base, precious and strategic metals focus.
The Company's target is to deliver a high return for shareholders by investing in significantly undervalued and/or high potential opportunities in the mineral exploration and development sector. Metal Tiger has two investment divisions: Equity Investments and Project Investments.
Equity Investments invests in undervalued natural resource companies. The majority of its investments are listed on AIM, the TSX and the ASX, which includes its interest in Sandfire Resources Limited (ASX: SFR). The Company also considers selective opportunities to invest in private natural resource companies, typically where there is an identifiable path to IPO. Through the trading of equities and warrants, Metal Tiger seeks to generate cash for investment for the Project Investments division.
Project Investments is focused on the development of its key project interests in Botswana, where Metal Tiger has a growing interest in the large and highly prospective Kalahari copper/silver belt through its interest in Kalahari Metals Limited.
The Company actively assesses new investment opportunities on an on-going basis and has access to a diverse pipeline of new opportunities in the natural resources and mining sectors. For pipeline opportunities deemed sufficiently attractive, Metal Tiger may invest in the project or entity by buying publicly listed shares, by financing privately and/or by entering into a joint venture.