Metal Tiger has provided an update on its joint venture (JV) project with MOD Resources in the Kalahari Copper Belt in Botswana.
The T3 Open Pit prefeasibility study, assuming a 2.5Mtpa base case and 4.0Mtpa upside case, is on track and due to be completed by end of January. The T3 Open Pit and T3 Underground resource drilling will continue through the first half of 2018.
A major regional exploration programme has commenced, focussed on targets outside T3 Project area, namely the T3 Dome, T20 Dome and T-Rex targets.
Michael McNeilly chief executive officer of Metal Tiger, said: "We are pleased to outline the key elements of our comprehensive strategy to test the copper potential of our tenement holdings outside of the immediate T3 Project area.
"Given the initial findings of the joint venture's regional soil and geophysics programmes, and the increased knowledge of the structural controls and mineralisation styles likely linked to the new copper and zinc anomalies, we feel that the continued investment through regional drill testing is likely to yield exciting returns.
"Benefiting from the updated knowledge of the distribution and style of copper deposits in this part of the Kalahari Copper Belt, we consider it a strong possibility, that one or more of the regional anomalies, within our extensive tenement package, will turn out to be an as-yet undiscovered T3 style sediment hosted copper deposit."
At 9:46am: (LON:MTR) Metal Tiger Plc Ord 0.01p share price was +0.08p at 2.33p