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Thailand Strategic SPLA Expansion

RNS Number : 5784X
Metal Tiger PLC
09 May 2016
 

Metal Tiger Plc

09 May 2016

Metal Tiger Plc

("Metal Tiger" or the "Company")

 

 

Thailand Strategic SPLA Expansion

 

 

Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource projects is pleased to announce that its 90% owned Thai subsidiary, Southeast Asia Exploration and Mining (SEAM), through its country wide exploration programme has identified a new Copper target area in Prachinburi  Province, approximately 120 km northeast of Bangkok. 

 

Highlights:

 

§ The company has lodged three contiguous Special Prospecting License Applications (SPLAs), totalling 48 square kilometres over the area in south-eastern Thailand. An SPL, once granted, is valid for five years;

 

§ The license application areas were selected as a result of targeted ground reconnaissance, sampling, and interpretation of magnetic and radiometric geophysics data, undertaken by the SEAM geologists. The application areas are structurally prospective and display evidence for hydrothermal alteration, with sample assays yielding anomalous copper and gold results;

 

§ It is believed that this region of Thailand represents an extension of the highly prospective Loei-Phetchabun Gold Belt further to the north. The belt has been interpreted as a former continental margin arc built up over a long period of subduction during Permo-Triassic times;

 

§ The addition of these three SPLAs brings the total in SEAM's Thai exploration portfolio to thirteen in four different areas of Thailand. The company will continue to work with the Department of Primary Industry and Mines to have the licenses granted in a timely manner;

 

§ The successful registering of the Prachinburi SPLA represents another step in the company's strategy to become a dominant player in the development of Thailand's mineral potential in order to create value for shareholders.

 

 

Paul Johnson, Chief Executive Officer of Metal Tiger commented "Metal Tiger's subsidiary SEAM has been highly active in recent months conducting a detailed review of new opportunities in Thailand.  The country has open-ended exploration potential and is highly prospective for precious, strategic and base metals.

 

The announcement today is the latest step in building a diversified strategic Thai portfolio of interests each of which has significant potential.  Metal Tiger, through SEAM, is proactively investing in-country and now has a variety of interests diversified by commodity and by stage of project development.

 

The Board of Metal Tiger will be in Thailand shortly to further various initiatives in-country and we anticipate further announcements in the near future with regard to our work in Thailand."

 

 

 

 

 

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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