Metal Tiger PLC (AIM:MTR, OTC:MRTTF, ASX:MTR) has said its associate Cobre Limited received positive assay results from the first three drill holes at the Ngami copper project in the Kalahari copper belt, Botswana.
Assays included highly anomalous copper and silver results, the company noted, and one drill hole demonstrated potential for economic concentrations of copper within the target.
Drilling is ongoing in the infill programme. Two further drill holes were complete and both intersected notable copper mineralisation at the expected target depth. It will now move along the target and focus on extending the target footprint to the northeast.
That will include eight additional holes, totalling around 2,4000 metres, and is expected to be completed before the end of October.
“We’re delighted to release the first batch of assay results which corroborate the visual estimates of anomalous copper mineralisation and the exciting district-scale potential of this portion of the KCB,” said Cobre managing director Martin Holland in a statement.
“These results add weight to our conviction that this area is potentially host to one of the next big copper districts, and provides further validation for our current exploration methodology. The programme has now been significantly expanded as we start drilling for further high-grade zones within a broad footprint to include new targets in this emerging district," he added.
Metal Tiger holds 44.5mln shares in Cobre, representing around 21% of the company.