Metal Tiger associate Southern Gold updates with encouraging drill results

0
11

Metal Tiger associate Southern Gold updates with encouraging drill results

Metal Tiger PLC (LON:MTR) noted that its 17.1% owned associate Southern Gold Limited has updated on its drill programme, which is confirms gold-containing mineralisation.

Southern Gold said that three new holes were drilled at the Aphae project and all have intersected significant sulphide and/or silica flooded vein breccia and base metal sulphide veining. Detailed assay results are pending.

READ: Southern Gold adds Metal Tiger CEO to board

It also noted that a wider than expected interval of sulphide-rich breccia zone was seen in one of the holes, APDD003, and a further drill hole is now being placed down-dip of this area.

“Today’s results from Southern Gold’s Aphae project are very encouraging and suggest a larger potential to the North of the project, surpassing expectations,” Michael McNeilly, Metal Tiger chief executive said in a statement. “We look forward to the results of further testing and the beginning of the fourth hole now planned there.”

Meanwhile, Southern Gold also highlighted that multiple zones of dynamic polyphasal low-sulphidation epithermal veining were intersected at ‘Hand of Faith’ area, of the Beopseongpo project, so far the peak data point was 0.24 metres at 1.71 grams per tonne gold.

Assay results are presently awaited from the Spider area, at Beopseongpo, and drilling is underway at the Shin Hill’ area of the Deokon project.

Kalahari Metals to restart drilling in Botswana

In a separate statement, on Tuesday afternoon, Metal Tiger also updated on another associate Kalahari Metals Limited (KML).

Metal Tiger owns 62.2% of KML which is preparing to restart drilling at the Kitlanya East (KIT-E) project by the end of June. It comes as Botswana is gradually relaxing coronavirus (COVID-19) restrictions.

Drilling at KIT-E was suspended in early April. During the lockdown period KML remodelled and interpreted data and preliminary drill results and this has led to a refinement of the follow-on targets.

Metal Tiger’s McNeilly commented: “We are pleased to report that KML is planning to recommence the diamond drilling programme at their Kitlanya East Project on the Kalahari Copper Belt, by the end of the month, as the Botswana government gradually relaxes COVID-19 related lockdown restrictions.

“Whilst site work had to go on hold, KML has taken the opportunity to incorporate the preliminary drilling datasets into the geophysical, remote sensing and geochemical models, updating and fine-tuning the target interpretation that shows strong geological similarities with the neighbouring Sandfire Resources deposits.”

Proactiveinvestors.co.uk

News For Oil

Leave a Reply

avatar
  Subscribe  
Notify of