Botswana Copper/Silver Project EMP Approval
Metal Tiger plc
Metal Tiger Plc
3 April 2018
Metal Tiger Plc
("Metal Tiger" or the "Company")
Botswana Copper/Silver Project – EMP Approval for Drilling T3 Dome
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 (“JV”) project with partner
MOD Resources Limited (ASX:MOD) (“MOD”) in the Kalahari Copper Belt in
Botswana (70% MOD Resources/30% Metal Tiger).
Highlights:
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Botswana Department of Environmental Affairs (DEA) has approved the
Environmental Management Plan (EMP) for drilling campaign to test
numerous high priority targets along the 50km long T3 Dome.
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T3 Dome EMP is subject to a four-week public review period with
drilling planned to commence in May 2018.
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T3 Dome EMP will increase the area available for drilling within the
T3 Dome to circa 680km2.
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Drilling on the T3 Dome is planned to commence with four drill rigs in
addition to the three rigs currently drilling at T3.
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Drill targets will include an initial 10 high priority untested T3
Dome Airborne Electromagnetic (EM) geophysics anomalies thought to be
related to lithological formation conductors.
Michael McNeilly Chief Executive Officer of Metal Tiger commented:
“The approval of the EMP for the T3 Dome is a key development for the
JV, opening up an additional 680km2 of the
prospective T3 Dome for drilling. Subject to the public review it
is planned that four drill rigs can start turning in May, with the
objective of testing the numerous anomalies already identified by the
previous airborne geophysics and soil sampling programmes.
These high priority target anomalies represent an opportunity for the
discovery of additional satellite copper deposits which could augment or
supplement the potential offered by developing the T3 Open Pit Resource
and its potential underground extensions. We look forward to the
prospect of an exciting stream of regional drill results whilst the JV
continues to progress the T3 Feasibility Study works.”
This announcement coincides with an update released today by MOD which
can be viewed through the following link:
http://search.asx.com.au/s/search.html?query=mod&collection=asx-meta&profile=web
T3 Dome Regional Exploration Programme Target
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The T3 Dome EMP has been lodged to drill test high priority
geophysical and geochemical anomalies generated by the T3 Dome
airborne EM survey (announced 21 July 2017) and the regional soil
sampling programmes.
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Initial interpretation of the geophysics data points to the district
scale T3 Dome being dominated by shallow thrust related domal
structures including the 11km long T-Rex dome centred on the T3 Open
Pit Resource area.
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Reinterpretation of the original geophysics data in conjunction with
data from the recent EM Survey extension is ongoing with preliminary
3D modelling of the interpreted T3 host sequence to approximately 500m
below surface.
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It is hoped that 3D modelling of the geology will help target the
lithologies prospective for hosting more high-grade copper vein
deposits.
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Approval of the EMP had been briefly delayed due to staffing issues at
the DEA.
Background information on the T3 Project
The T3 Project is located on the Kalahari Copper Belt in northern
Botswana and is part of the MOD/MTR joint venture Botswana Copper/Silver
Project. T3 is located within the central part of the T3 Dome
(approximately 1,000km2), which is the focus of rapidly
increasing exploration activity undertaken by the JV. Two significant
resources have been discovered to date within the T3 Dome: T1 (Mahumo
deposit 100% MOD) and T3 (70% MOD / 30% MTR).
The T3 Deposit was discovered in March 2016 when a reverse circulation
(“RC”) drill hole intersected 52m @ 2.0% Cu and 32g/t Ag from shallow
depth. The maiden T3 JORC (2012) compliant Mineral Resource was
announced on 26 September 2016 with the first Resource upgrade announced
on 24 August 2017. The results of a Scoping Study for an open pit mine
at T3 with a 2Mtpa processing plant, an indicative mine life of 10 years
and an average production rate of 21,800tpa of copper and 665,000oz pa
of silver was released on 6 December 2016. Work on a Pre-Feasibility
Study (PFS) commenced in January 2017 and additional deeper copper
mineralisation was discovered below the T3 Resource in February 2017.
The T3 Prospect geological data and exploration results have been
reviewed and approved by Jacques Janse van Rensburg, BSc.(Hons),
Business Development Manager and Competent Person for MOD Resources Ltd.
Mineral Resource estimation and classification of the T3 Copper/Silver
Project was conducted and approved by Mr A.I. Pretorius, MSc.
Pri.Sci.Nat. an independent consultant to MOD Resources Ltd.
The Phase 2 drilling at the T3 Copper/Silver Deposit commenced on 7th
August 2017, with approval granted for the recommencement of both
diamond core (DC) and reverse circulation (RC) drilling at the T3
Project and its vicinity, through to December 2018. This includes up to
70 planned diamond core drill holes designed to infill the current
Resource and test for possible extensions. The objective of the infill
program is to increase geological confidence and upgrade categorisation
of the T3 Resource. The programme also includes grid drilling to
investigate the potential for an underground Resource down-dip and along
strike from the planned open-pit, and to investigate geophysical targets.
The results of the T3 Open Pit Pre-Feasibility Study were announced on
31st January 2018.
The technical information contained in this disclosure has been read
and approved by Mr Nick O'Reilly (MSc, DIC, MAusIMM, FGS), who is a
qualified geologist who acts as the Competent Person under the AIM Rules
- Note for Mining and Oil & Gas Companies. Mr O'Reilly has
visited the T3 site and reviewed MOD’s drilling and sampling protocols
and procedures. Mr O'Reilly is a Principal consultant working for Mining
Analyst Consulting Ltd which has been retained by Metal Tiger PLC to
provide technical support.
In addition to its 30% interest in the JV, Metal Tiger holds 130,912,915
MOD shares, equivalent to 6.049% of MOD’s issued share capital and
1,541,667 MOD options each exercisable price of 6 cents (Australian) on
or before 15 April 2019.
For further information on the Company, visit: www.metaltigerplc.com:
Michael McNeilly
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(Chief Executive Officer)
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Tel: +44(0)20 7099 0738
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Keith Springall
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(Finance Director & Company Secretary)
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Tel: +44 (0)20 7099 0738
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Stephen Allen or Bhavesh Patel
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RFC Ambrian Ltd
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Tel +44 (0)20 3440 6800
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(Nominated Adviser)
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Jonathan Williams
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RFC Ambrian Ltd
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Tel +44 (0)20 3440 6800
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(Joint Broker)
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Nick Emerson
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SI Capital
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Tel: +44 (0)1483 413 500
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(Joint Broker)
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Rita Adiani
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NRG
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Tel: +44 (0)20 3709 4504
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Gordon Poole
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Camarco
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Tel: +44 (0)20 3757 4980
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(Financial PR)
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James Crothers
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Notes to Editors:
Metal Tiger plc is listed on the London Stock Exchange AIM Market
(“AIM”) with the trading code MTR and invests in high potential mineral
projects with a precious and strategic metals focus.
The Company’s target is to deliver a very high return for shareholders
by investing in significantly undervalued and/or high potential
opportunities in the mineral exploration and development sector timed to
coincide, where possible, with a cyclical recovery in the exploration
and mining markets. The Company’s key strategic objective is to ensure
the distribution to shareholders of major returns achieved from
disposals.
Metal Tiger’s Metal Projects Division
is focused on the development of its key project interests in Botswana,
Spain and Thailand. In Botswana, Metal Tiger has a growing interest in
the large and highly prospective Kalahari copper/silver belt. In Spain,
the Company has tungsten and gold interests in the highly-mineralised
Extremadura region. In Thailand, Metal Tiger has interests in two
potentially near-production stage silver/lead/zinc mines as well as
licences, applications and critical historical data covering antimony,
copper, gold, silver, lead and zinc opportunities.
The Company has access to a diverse pipeline of new opportunities
focused on the natural resource sector including physical resource
projects, new natural resource centred technologies and resource sector
related fintech opportunities. Pipeline projects deemed commercially
viable may be undertaken by Metal Tiger or by an AIM or NEX Exchange
(formerly ISDX) partner with whom the Company is engaged.

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