Lithium-Tantalum Memorandum of Understanding
Metal Tiger Plc
01 March 2016
Metal Tiger Plc
("Metal Tiger" or the "Company")
LITHIUM-TANTALUM MEMORANDUM OF UNDERSTANDING
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to announce the Company has signed a Memorandum of Understanding ("MoU") with Ariana Resources plc (LON:AAU) for the review, exploration and development of lithium-tantalum opportunities in the Malay Peninsula, and specifically within Thailand and Myanmar.
· Initial work undertaken by both Metal Tiger's Thai JV operating partners and Ariana Resources technical teams indicate substantial lithium-tantalum prospectivity in the Malay Peninsula.
· Metal Tiger and Ariana Resources to collaborate on lithium-tantalum projects specifically in Thailand and Myanmar under an MoU and informal 50:50 Joint Venture ("JV").
· A formal lithium JV structure will be adopted once specific projects are secured, although both companies have the right to assign their interests in the MoU to other group companies or to third parties at any time.
· Metal Tiger's Thai JV operating partners are undertaking a detailed review of Thailand lithium prospectivity and have identified numerous targets for further investigation.
· Licence applications over suitable targets will be submitted by Metal Tiger's Thai JV operating partners and notified to the market when granted.
· Subject to licencing, the market will be notified of planned work programmes and the outcome of material work undertaken.
Paul Johnson, Chief Executive Officer of Metal Tiger plc commented: "We are delighted to sign this MoU with Ariana Resources who have very recently demonstrated an ability to crystallise commercial value from lithium interests, as demonstrated by their 86% held subsidiary Asgard Metals Pty Ltd selling a package of tenements in Australia to ASX Listed Dakota Minerals Limited (ASX:DKO), completion of which was announced on 23rd February 2016.
The Metal Tiger Thai JV team have longstanding experience of working in Thailand and the team includes geologists with an understanding of the potential lithium-tantalum prospectivity in country. The work undertaken to date reviewing this prospectivity has highlighted numerous targets in respect of both in-situ mineralisation and tailings that may be processed further.
We look forward to working with the Ariana Resources team to identify and develop lithium-tantalum deposits in Thailand and Myanmar."
Lithium Geology of the Malay Peninsular
In Thailand, lithium is associated with tin deposits located in the southern, peninsular, part of the country along the extensions of the Mogok-Mandalay-Mergui Belt extending from Myanmar. Tin, along with tungsten, tantalum and niobium, is found in pegmatite veins associated with granitic intrusions of Jurassic to Cretaceous age in the Phuket Mineral Belt and the Phetcharburi Mineral Belt. Lepidolite appears to be the dominant lithium-bearing mineral in the Thai pegmatite systems. In Myanmar, lithium is associated with petalite-, spodumene- and lepidolite-bearing pegmatites associated with the dominant tin-tungsten belt; the Mogok-Mandalay-Mergui Belt and Mogok Metamorphic Belt. However, these areas are poorly explored by modern methods and represent significant exploration potential.
Lepidolite (a mica) and other lithium-bearing minerals are concentrated in the latest stage of fractionation from highly volatile melts associated with the parent granite intrusion as it cools. Therefore, lithium minerals are usually found in pegmatite veins towards their margins, somewhat beyond the zones in which tin and tungsten minerals are found most highly concentrated. Consequently, concentrations of lithium may be found in the extensions of pegmatite veins previously mined for tin where operations ceased due to lower tin grades. Due to differential zoning, lithium grades might be higher in these sections than in the sections mined for tin.
Lithium has never been recovered as a by-product of the once substantial tin producing industry in Thailand because it had not been economic to do so previously. Therefore, tailings from historical tin mining operations may be expected to contain significant amounts of lithium. Furthermore, pegmatite veins not previously exploited for tin, in these areas, could provide prospective exploration targets.. In addition to primary pegmatite deposits, tin is often found and mined in placer deposits but as a light mineral, lithium-bearing lepidolite would not be expected to be found alongside tin in this depositional environment.
The technical information contained in this disclosure has been read and approved by Mr Nick O'Reilly (MSc, DIC, MAusIMM, FGS), who is a qualified geologist who meets the criteria of a qualified person under the AIM Rules - Note for Mining and Oil & Gas Companies. Mr O'Reilly is a consultant working for Mining Analyst Consulting Ltd which has been retained by Metal Tiger PLC to provide technical support.
For further information on the Company, visit: www.metaltigerplc.com:
Paul Johnson (Chief Executive Officer)
Tel: +44 (0)7766 465 617
Terry Grammer (Non- Executive Chairman)
Tel: +44 (0)207 099 0738
Spark Advisory Partners Limited
Tel: +44 (0) 2033 683 555
Tel: +44 (0) 1483 413 500
Notes to Editors:
Metal Tiger plc is listed on the London Stock Exchange AIM Market ("AIM") with the trading code MTR and invests in high potential mineral projects with a precious and strategic metals focus.
The Company's target is to deliver a very high return for shareholders by investing in significantly undervalued and/or high potential opportunities in the mineral exploration and development sector timed to coincide, where possible, with a cyclical recovery in the exploration and mining markets. The Company's key strategic objective is to ensure the distribution to shareholders of major returns achieved from disposals.
Metal Tiger's Metal Projects division is focused on the development of its key project interests in Botswana, Spain, Thailand and Tanzania. In Botswana Metal Tiger has a growing interest in the large and highly prospective Kalahari copper/silver belt. In Spain Metal Tiger the Company has interests in tungsten and gold interests in the highly mineralised Extremadura region. In Thailand Metal Tiger has expanding interests over licences, applications and critical historical data covering antimony, copper, gold, silver, lead and zinc opportunities.
The Company has access to a diverse pipeline of new opportunities focused on the natural resource sector including physical resource projects, new natural resource centred technologies and resource sector related fintech opportunities. Pipeline projects deemed commercially may be undertaken by Metal Tiger or by an ISDX or AIM partner with whom the Company is engaged.
Metal Tiger also has an Asset Trading Division that holds various financial instruments for trading purposes including equities, warrants and royalty income. The aim of the division is to generate profits to reinvest into the Company's project based activities.
This information is provided by RNS