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Spanish Gold & Tungsten Joint Venture Update

RNS Number : 7970H
Metal Tiger PLC
18 March 2015
 

 



Metal Tiger plc

("Metal Tiger" or the "Company")

 

Spanish Gold & Tungsten Joint Venture Update

 

Metal Tiger (LON: MTR) the London Stock Exchange AIM listed natural resource investing company, is pleased to report on initial developments of its Gold and Tungsten-focused Joint Venture ("JV") in Spain.

 

Highlights:

·   Initial cash payment made, formally commencing funding in line with the Joint Venture     agreement;

·     Initial Metal Tiger funding used to acquire Drill Rig;

·     Exploration activities expected to commence on the ground in April 2015.

 

Metal Tiger is pleased to announce that following completion of the Joint Venture with Logrosan Minerals Ltd (announced 16 March 2015) the Company has now commenced funding in line with the Joint Venture agreement.  First payment of funding formally signals the start of Joint Venture operations.

 

As part of the 2015 planned exploration programme the Joint Venture partners have applied the initial funding by Metal Tiger to securing an in-house drilling capability through the purchase of a Hydraulic Rotary Drill Rig.  This Drill Rig, obtained new and at modest capital outlay, provides operational flexibility to the ground explorations team in Spain for efficient rotary air blast and core drilling. 

 

Metal Tiger's CEO, Cameron Parry, commented: "Metal Tiger has expeditiously delivered first funding under its Spanish Joint Venture to support early ground operations.  The approach taken through these initial steps is in line with the Joint Venture objective to rapidly increase data on the extent of gold and tungsten mineralisation within the targeted area.  This also enables Metal Tiger to report on exploration results over the near-term.  Further announcements will follow as developments occur."

 

 

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

 

 

 

 


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