Metal Tiger PLC (AIM:MTR, OTC:MRTTF, ASX:MTR), the investor in natural resource opportunities, has noted that investee company Armada Metals Limited has announced the identification of additional targets at the Nyanga Magmatic Nickel-Copper (Ni-Cu) project in Gabon.
Armada said preliminary modelling of airborne Mobile Magnetotellurics survey data has defined multiple preliminary targets, which will direct future ground-based Natural Source Audio-Magnetotelluric (NSAMT) programs and drill targeting. A series of ground-based NSAMT surveys are planned to follow up on the highest priority targets in advance of further drilling.
In a statement, Michael McNeilly, CEO of Metal Tiger, commented: “We are very pleased to note a successful 2022 exploration programme by Armada in Gabon, with the identification of new priority targets. We look forward to future updates on the follow-up and potential drill testing later in 2023.”
Metal Tiger holds 15,000,000 Armada Shares, representing approximately 14.42% of Armada’s issued share capital. In addition, Metal Tiger currently holds 3,333,333 options over Armada Shares, exercisable at a price of $A0.334 which expire on 30 December 2026.
Armada’s announcement is available via the following link: https://www.asx.com.au/asxpdf/20230202/pdf/45l70nw9jrmkhl.pdf,
Metal Tiger, which is listed on the AIM market of the London Stock Exchange AIM Market and the ASX Market of the Australian Securities Exchange, invests in high-potential mineral projects with a base, precious and strategic metals focus. The majority of its investments are listed on AIM, the TSX and the ASX. The company also considers selective opportunities to invest in private natural resource companies, typically where there is an identifiable path to IPO.