Metal Tiger Plc
Botswana T3, Robust Scoping Study Results
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to provide an update with regard to the exploration programme at the Companys Joint Venture (JV) project with partners MOD Resources (ASX:MOD) in the Kalahari Copper Belt in Botswana (70% MOD Resources / 30% Metal Tiger).
Summary results of the Scoping Study for the Target 3 (T3) Copper-Silver Deposit are provided below.
In addition, we would refer to the announcement released today by MOD Resources which contains images and diagrams that may assist readers in an understanding of the project. This announcement can be viewed through the following link:
http://search.asx.com.au/s/search.html?query=mod&collection=asx-meta&profile=web
Michael McNeilly, Chief Executive Officer of Metal Tiger commented: We are delighted to report the robust outcome of this Scoping Study in respect of the T3 Copper-Silver deposit in Botswana in which Metal Tiger has a 30% direct project interest. The preliminary base case NPV amounts to approximately US$180m and the preliminary upside case model NPV amounts to US$297m at $2.53 lb/cu and $3.00 lb/cu.
This data is exceptionally positive particularly given the short period since the original discovery in March 2016, and given the low cost of circa US$2.5m expended by the Joint Venture partners to get to this point. In just over 11 months from first drilling the team has delivered, at very low cost, a Maiden JORC Resource and Scoping Study for an open pit mine at T3. Also of significance, the T3 is only the first of a series of high profile targets within the highly prospective region covered by the Joint Venture Licences, with the T3 Deposit only 1 square kilometre of the approximately 1,000 square kilometres constituting the prospective T3 Dome Structure.
The release of this Scoping Study and the interest shown in the project recently at Mines and Money London marks a major step forward towards the project objective of becoming a low cost, and long life Botswanan copper producer and bodes well for Metal Tiger to consider corporate opportunities. The JV continues its work proactively to develop the T3 deposit and further investigate additional opportunities to add step changing value to the Botswanan Joint Venture through the discovery of further deposits within the licence areas. In this regard, further news is anticipated in the near term.
On a final note, it was great to spend time with Julian Hanna and Jacques Van-Rensburg from MOD Resources before and during Mines and Money London, they have truly delivered on our joint strategy and I would like to extend my thanks to them and the MOD team for their hard work in delivering this result so rapidly."
Highlights: SEE LINK BELOW
http://www.moneyam.com/action/news/showArticle?id=5460973