Metal Tiger upbeat on performance so far at Tshukudu

21st Nov 2018 14:39

(Sharecast News) - Strategic natural resource opportunities investor Metal Tiger updated the market on the exploration activities of its new joint venture, Tshukudu Exploration, in the Kalahari Copper Belt in Botswana on Wednesday.The AIM-traded company holds a 30% interest in Tshukudu Exploration via Metal Capital Exploration, with MOD Resources holding the remaining 70%.It said diamond drilling in the first two widely-spaced holes at the T23 Dome had intersected visible copper mineralisation at "very shallow depth" that could be of "significant" potential.The board said the T23 Dome was the first drilling target on the T20 Exploration Project, located 100 km west of the T3 Project, since T4.T23 was the sixth significant copper mineralisation find on MTR/MOD joint venture licences over the last three years, according to Metal Tiger.Holes MO-T23-001D and MO-T23-002D both intersected near-surface copper oxide mineralisation, it added, including narrow veins and fracture zone hosted malachite and chrysocolla.They also intersected primary copper sulphides, including disseminated chalcocite, chalcopyrite and bornite hosted within typical D'Kar Formation sediments, from 50m depth above a red sandstone interpreted to be within the Ngwako Pan Formation (NPF).Finely disseminated chalcocite was also reported locally within the NPF.Assay results for the holes were currently awaited, whilst drilling was being stepped up to test specific structural targets elsewhere on the previously-unexplored T23 Dome."We are delighted to report the intersection of shallow copper mineralisation on the T23 Dome, which forms part of T20 Exploration Project, 100 km west of the T3 Project, and is held within the new joint venture," said Metal Tiger chief executive officer Michael McNeilly."Whilst Metal Tiger now holds an indirect interest in the T3 Project through our shareholding in MOD, we continue to explore the wider Kalahari Copper Belt in order to generate significant upside potential through the new, directly held, Tshukudu Exploration joint venture."With drilling at the T23 Dome returning potentially significant visible copper intersections and rigs being mobilised to follow-up on the previous high-grade intersections at T4, we are looking forward to a potentially exciting new chapter of Kalahari copper discoveries."