LONDON--(BUSINESS WIRE)--
07 September 2021
Metal Tiger plc
("Metal Tiger" or the "Company")
Sandfire A4 Step-Out Drilling Update
Metal Tiger plc (AIM: MTR, ASX: MTR), the AIM and ASX listed investor in natural resource opportunities, is pleased to provide an update in relation to its investment in Sandfire Resources Limited (“Sandfire”) which contains information relevant to Metal Tiger's 2% uncapped net smelter royalty over circa 8,000km2 of Sandfire's licence holdings in the Kalahari Copper Belt including PL190/2008 (excluding the T3 Motheo Project area), which hosts the A4 deposit. Metal Tiger also has a capped US$2m 2% net smelter royalty over production from the T3 Motheo mine. Sandfire today announced a standout intersection from 439m down-hole of 45m @ 2.2% copper (including 2.1m @ 8.25% Cu) 1.2km south-west of the recently upgraded A4 Mineral Resource.
Highlights:
- MO-A4-207D is the first hole to effectively test the axis of the A4 periclinal anticline (“A4 Dome”) interpreted from Airoborne Electromagnetic (AEM) data to the west of the current Mineral Resource.
- Interpretation of AEM and airborne magnetic data has highlighted a distinctive structure that potentially continues for 5km along the axis of the A4 Dome, which may link the intersection in MO-A4-207D with similar high-grade vein-hosted mineralisation previously reported up to 1.9km to the east.
- Drilling is continuing, with two rigs testing the true width of the mineralisation and the potential for extensions below MO-A4-207D and a third rig expected to arrive at A4 in mid-September.
- A4 Deposit continuing to develop as a key potential source of satellite feed for the Motheo Copper Mine, where full-scale construction and development is now underway following the award of the Mining Licence of 7 July 2021.
- Pre-Feasibility Study to support a maiden Ore Reserve for A4 on track to be completed during the quarter as the foundation for a final Feasibility Study targeted in the March 2022 Quarter. This will provide a development pathway for the integration of A4 into the proposed 5.2Mtpa Motheo Production Hub.
Metal Tiger is currently interested in 6,143,357 Sandfire shares representing approximately 3.4% of Sandfire’s issued share capital. As announced on 8 December 2020, 2,842,667 of the Sandfire shares held by the Company are subject to an equity derivative financing arrangement with a global investment bank.
A link to the Sandfire announcement released today can be found below:
High Grade Drilling Results at A4 Dome:
Michael McNeilly, Chief Executive Officer of Metal Tiger, commented:
“It is hugely encouraging to see Sandfire's continued progress in the Kalahari Copperbelt at T3 and in particular A4. Copper is a critical mineral for the green economy and projects such as T3/A4 and the potential of the Kalahari Copperbelt will be hugely important if the world is to achieve the global climate targets. We look forward to further progress.”
For further information on the Company, visit: www.metaltigerplc.com
Enquiries:
Michael McNeilly |
(Chief Executive Officer) |
Tel: +44 (0)20 3287 5349 |
Mark Potter
|
(Chief Investment Officer) |
|
James Dance James Harris Robert Collins
|
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 Rebecca Waterworth
|
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") and the ASX Market of the Australian Securities Exchange Market ("ASX") 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.