Metal Tiger confirms exciting new mineralisation zone in Botswana
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.