In a cautionary notice issued to shareholders, LSE-listed Metal Tiger plc has announced that a sampling exercise of exploratory ores extracted from the T3 project area of the Mahumo Concession in the Kalahari Copperbelt has indicated the potential proof of the availability of huge deposits.
Says the company: “Several new copper anomalies have been identified from an ongoing regional soil sampling programme being conducted over the wider MOD/MTR JV licence holdings. This regional work is in addition to the ongoing resource drilling programme at T3. This soil geochemistry survey work focused on the regional exploration targets T2, T9 and T10, which are located north of the T3 Resource Programme area.
“It is important to note that it was soil sampling that led to the discovery of both the T3 Resource target and the mineralisation drilled at T4 earlier this year. At T2, two strong copper in soil anomalies are outlined. At T9 and T10, extensive copper soil anomalies coinciding with major regional structures have been identified. Investigations are ongoing.”
The new discoveries include three specific zones with copper concentrations of up to 85 parts per million (ppm) covering areas up to 1.5km wide. More discoveries are expected in the T-9 and T-10 prospects areas where extensive evidence of copper mineralisation has been found.
Metal Tiger CEO, Paul Johnson, says the discoveries proved that the company’s exploratory strategies are paying dividends.
“The potential of our Botswana licences holding as yet undiscovered copper deposits has increased with the delineation of these soil geochemistry anomalies. The focused strategy of identifying potential new deposits, by targeting regional scale structures identified from regional geophysics, with relatively low cost, soil sampling grids and RC drilling is paying off.
“The strategy worked to delineate the current T3 Resource Project and led to the discovery of MOD’S Mahumo deposit. It is especially interesting to note that the T2 copper in soil anomalies outlined below are over three times higher than the 28ppm Cu anomalies that led to the discovery of T3,” he adds.