Metal Tiger confirms exciting new mineralisation zone in Botswana

Digital Look Sharecast | 17 Feb, 2017 12:02 | | |

metal tiger
  • 2.15
  • -2.27%-0.05
  • Max: 2.23
  • Min: 2.03
  • Volume: 10,520,761
  • MM 200 : n/a
17:30 24/05/17
  • 10,535.73
  • 0.36%37.97
  • Max: 10,536.88
  • Min: 10,493.64
  • Volume: 0
  • MM 200 : n/a
17:19 24/05/17
  • 987.44
  • 0.19%1.88
  • Max: 987.44
  • Min: 984.43
  • Volume: 0
  • MM 200 : n/a
17:20 24/05/17
  • 0.00
  • 0.00%0.00
  • Max: 0.00
  • Min: 0.00
  • Volume: 0
  • MM 200 : n/a
01:20 25/05/17

Shares in Metal Tiger are down more than 16% despite it confirming the discovery of an "exciting new zone of mineralisation" beneath the T3 Resource, in Botswana's Kalahari Copper Belt.

"We think that this new discovery has the potential to significantly improve the dynamics and economics of the T3 Deposit," said chief executive Michael McNeilly, referring to the joint-venture project with partner MOD Resources.

The new zone comprised multiple intervals of copper sulphide mineralisation over 75m.

Metal Tiger anticipated assay results could be the most significant since the T3 discovery hole last March, 52m @ 2% copper and 32g/t silver.

"This previously unknown new zone of mineralisation was discovered during the T3 Resource infill drilling being conducted as part of the current Prefeasibility Study works," it said.

Concurrent to the infill drilling, Metal Tiger said the ongoing IP geophysics survey work had identified several new anomalies that could be related to sulphide mineralisation in the vicinity of the T3 Deposit.

"The first of these new deep anomalies is currently being drilled and we look forward to the findings."

At 11:48 GMT, shares in AIM-priced Metal Tiger were down 16.22% to 2.32p each.

More news

24 May US close: Markets finish higher as investors mull Fed minutes

Wall Street's main market averages finished in the green on Wednesday, with Treasury yields slipping after the release of the minutes from the Federal Open Market Committee’s May meeting.

24 May Europe close: Stocks tread water, ECB, Fed in focus

European indices finished the session on a mixed note despite, or perhaps on account of, dovish remarks from two top European Central Bank officials.

24 May London close: FTSE wanders to positive close ahead of Fed minutes

Stocks in London wandered to a positive close on Wednesday as investors embraced a raft of corporate news, and as the market looked to this evening's Federal Reserve minutes release.

24 May US crude oil inventories drop more than expected

US crude oil stockpiles drew more quickly than expected last week with analysts pointing to near-record refinery runs as the main culprit.

24 May Thursday preview: UK GDP, Halfords, Qinetiq, B&M

Following a quiet week for UK data, Thursday will allow economists to get their teeth into more granular detail about the consumer backdrop, with the second release of gross domestic product for the first-quarter, plus the index of services and results from companies including Halford, United Utilities and QinetiQ.

24 May Wood Group's Amec takeover under spotlight amid SFO's Unaoil probe

A potential spanner has been thrown in the works of John Wood Group's acquisition of fellow engineer Amec Foster Wheeler after the pair revealed connections to the Unaoil bribery scandal.

24 May ECB's Draghi does not see financial stability risks

Low interest rates and other policy measures are not storing up trouble for the future in the single currency bloc, rather the opposite, so no change in policy guidance is required, the European Central Bank's boss said.

24 May US existing home sales drop more than expected in April

Sales of US existing home sales fell more than expected in April, according to data from the National Association of Realtors.

24 May US house price growth slows a tad in March, FHFA says

House prices in the US continued to rise at a steep pace in March amid continued strong demand and low inventories which more than offset slightly higher mortgage rates.

24 May Strat Aero wins contract with Cyprus Department of Civil Aviation

International aerospace company Strat Aero announced a contract with the Cyprus Department of Civil Aviation on Wednesday, to provide aviation consulting services.