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Drilling Commenced in Spain on Gold & Tungsten JV

RNS Number : 4682L
Metal Tiger PLC
28 April 2015
 

METAL TIGER PLC

28 April 2015

 



Metal Tiger plc

("Metal Tiger" or the "Company")

 

Drilling Commenced in Spain on Gold & Tungsten JV

 

Metal Tiger (LON: MTR), the natural resources investing company is pleased to announce the commencement of drilling at its Logrosan Gold and Tungsten JV project in Extremadura, Spain.

 

Highlights:

 

·      Dando Terrier Rotary Air Blast (RAB) Inclined Drilling Rig arrived and now operational;

·      LM001 the first hole of planned 5,000 metre programme completed;

·      Drilling will initially target the tungsten anomalies, moving to the gold anomalies further in the programme;

·      The commencement of the drilling programme, the sampling procedures and protocols have been agreed in conjunction with the Metal Tiger's qualified geologist - Chairman Terry Grammer;

·      Further regular news updates to follow as ground exploration proceeds.

 

 

Cameron Parry CEO of Metal Tiger stated: "Metal Tiger is delighted to confirm the commencement of drilling operations at our gold and tungsten JV in Spain.  Our JV partners and their team have demonstrated an efficient and professional approach to the exploration process and the incorporation of this drilling programme into their field work.

 

For this project, recognising the extent of historical work, the best exploration approach is to incorporate drilling at this stage and we are looking forward to the results from this programme. 

 

Metal Tiger continues to proactively progress its Direct Projects division of which Spain is a key element.  The Company is also active with ground operations in Thailand and looks forward to updating the market with respect to the work being undertaken there to identify precious and strategic metal mineralisation."

 

Spain JV Drilling Program Detailed Information:

 

The project took delivery of a new Dando Terrier tracked rotary air blast (RAB) drilling rig on Thursday 23rd April 2015.  Following drill commissioning and site preparation the maiden drill hole (LM001) was completed on Saturday 25th April.  The planned programme consists up to 5,000m of inclined drilling designed to test surface geochemical and geophysical anomalies at depth.  Drilling will be split between two seasons, April to end June and September to December, with a break over the hottest part of the year.  The Dando Terrier is a compact, track mounted drill rig fitted with a mast dump for inclined drilling up to 45 degrees from vertical.

 

The drilling has commenced on Target 2, the tungsten anomaly located close to Logrosan town.  LM001 is located on the first of three planned profiles perpendicular to an elongated zone of elevated tungsten in soil anomalies and structure identified by ground magnetics.  Holes are expected to average 30m in depth dependant on specific target and drilling conditions.  A total of 12 drill profiles are planned, the first six to test for tungsten mineralisation, the latter six will target gold mineralisation.  Upon completion of the planned profiles infill drilling will depend on results.

 

Samples are collected over two metre intervals and are riffle split to produce sample for analysis, a duplicate and a sieved course fraction.  Samples are analysed initially using a Inovex XRF; where mineralisation is encountered samples will be batch analysed by ALS Laboratories in Seville, Spain.

 

The method of drilling and sampling is deemed appropriate for the stage and goals of the exploration programme.  The commencement of the drilling programme, the sampling procedures and protocols have been agreed and reviewed onsite in conjunction with Metal Tiger's qualified geologist.

 

Target 2 is characterised by four sub-parallel tungsten anomalies (in an area 1.2km by 1km) superimposed over an arsenic anomaly and structures interpreted from the magnetic geophysics. Channel sampling in a trench cross-cutting one of these anomalies has confirmed hard-rock tungsten mineralisation ranging 581-1805 ppm.

 

Previous Work conducted by Metal Tiger's JV partners

 

Over the past 18 months, Metal Tiger's joint venture partners in Logrosan Minerals Ltd have carried out more than 40,000 soil samples, hundreds of pan-concentrate samples, covered thousands of linear kilometres with ground magnetic survey and assessed electro-magnetic tomography. 

 

The presence of Tungsten mineralisation has been confirmed by soil sampling, outcrop sampling, trenching and historical drill holes.  Gold mineralisation has been confirmed by pan-concentrate and findings to date delineate three significant anomalies, being one square kilometre each. 

 

Logrosan Minerals Limited

 

Logrosan Minerals Limited is a special purpose joint venture vehicle owned by by Metal Tiger Plc and Mineral Exploration Network (Finland) Ltd.  Logrosan Minerals Limited is the operating company for the Logrosán Exploration Project.

 

Mr Nick O'Reilly (MSc, DIC, MAusIMM, FGS), is a qualified geologist who meets the criteria of a qualified person under the AIM Rules - Note for Mining and Oil & Gas Companies, has visited the Project Area, and reviewed the technical information contained within this announcement.  Mr O'Reilly is a consultant working for Mining Analyst Consulting Ltd which has been retained by Metal Tiger PLC to review the work undertaken on the Logrosán Exploration Project.

 

For further information on the Company, visit: www.metaltigerplc.com:

 

Cameron Parry

(CEO)


Tel: +44 (0)207 099 0738

Paul Johnson

(Executive Director)


Tel: +44 (0)7766 465 617

Sean Wyndham-Quin

Neil Baldwin

Spark Advisory Partners Limited

(Nominated Adviser)

Tel: +44 (0) 2033 683 555

Nick Emerson

Andy Thacker

SI Capital Limited

(Sole Broker)

Tel: +44 (0) 1483 413 500

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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