Metal Tiger (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 partners MOD Resources (ASX:MOD) in the Kalahari Copper Belt in Botswana (70% MOD Resources / 30% Metal Tiger).
Metal Tiger also holds 95,543,934 MOD shares, equivalent to 5.049% of MOD’s issued share capital and 1,541,667 MOD warrants at an exercise price of 6 cents (Australian). Activities in Botswana are conducted under the JV’s local operating company Tshukudu Metals Botswana.
- JV partners set regional exploration budget at AUD 10M for 12 months commencing 1 October 2017, to fast track drilling of district-scale copper targets.
- Metal Tiger to contribute 30% of incurred exploration costs, up to GBP 1.85M at current exchange rates, in line with direct JV holding.
- Work to focus on 150km corridor within the highly prospective Kalahari Copper Belt which hosts T3 and other copper targets.
- Drilling targets will include airborne electromagnetic geophysics anomalies as well as soil copper anomalies.
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