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Thailand SPLA Registration Approved

RNS Number : 7134S
Metal Tiger PLC
21 March 2016
 

Metal Tiger Plc

21 March 2016

 

Metal Tiger Plc

("Metal Tiger" or the "Company")

 

Thailand SPLA Registration Approved

 

 

Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to announce further progress with regard to strategic and tactical development of the Company's investing activities in Thailand.

 

The Company, via 90% owned subsidiary Southeast Asia Exploration and Mining Co. Ltd., has successfully registered Special Prospecting License Application (SPLA) 1/2559 with the Thailand Department of Primary Industry and Mines expanding its gold/antimony prospect in the north-western corner of Chanthaburi Province, Thailand.

 

Special Prospecting Licenses (SPLs) are granted for five years (5) whereas Exclusive Prospecting Licences (EPLs) are granted for only one (1) year. Within the concession boundaries, exists an area previously worked by artisanal miners for stibnite (antimony).  The 12.32 square kilometre application overlays and extends the coverage area of our previous one year Exclusive Prospecting License (EPL 51/2557) which expired in September 2015. The total cost of the application was 193,470 thb which is 80% refundable if released.

 

This decision was taken following two soil geochemistry surveys conducted in 2015 which revealed anomalous gold and antimony values, as well as anomalous copper, lead, zinc, and arsenic. The expanded area reflects the trend of a mineralised fault between two metasedimentary units of Carboniferous and Silurian/Devonian ages, as defined by our geological contractors GMT Corporation during their 2015 exploration work on EPL 51/2557.

 

Metal Tiger now plans to proactively pursue permitting on its large land packages including Chanthaburi SPLA 1/2559 and once granted the company plans to continue with its soil geochemistry program to identify drill targets. Furthermore, permitting on its SPLA package in Kanchanaburi is in the final stages of approval at the provincial level before proceeding to Bangkok for final approval   

 

 

Paul Johnson Chief Executive Officer of Metal Tiger plc commented "We are pleased to confirm this SPLA registration approval for what we consider to be a very attractive opportunity, based on work undertaken to date at the property, and subsequent analysis of results achieved and their technical implications.

 

This demonstrates the effectiveness of our partners in Thailand in respect of ground operations and management of the licencing process in-country.

 

We look to providing further updates at the earliest opportunity as our work progresses."

 

 

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

Sean Wyndham-Quin

Neil Baldwin

Nick Emerson

Andy Thacker

Spark Advisory Partners Limited

(Nominated Adviser)

SI Capital

(Sole Broker)

 

Tel: +44 (0) 2033 683 555

www.sparkadvisorypartners.com

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 and Thailand.   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 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 viable 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
The company news service from the London Stock Exchange
 
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