Metal Tiger pleased with progress at Kalahari Metals investment

Strategic natural resources investor Metal Tiger updated the market on the exploration activities of Kalahari Metals on Thursday, reporting that following the approval of the environmental management plan for its Ngami Copper Project by the Botswana Department of Environmental Affairs, gazetting of that plan had now been completed, allowing the start of diamond drilling at the project.

The AIM-traded firm said Kalahari - in which it held a 50% shareholding - had awarded a drilling contract to OreZone Drilling of Botswana, with mobilisation scheduled for the first week of June.

It said the first phase of diamond drilling, with an initial 2,100 metres planned, would test priority fold hinge targets at the Ngami Copper Project, after which the rig was planned to move onto Kalahari’s Okavango Copper Project, subject to environmental management plan approval.

Under the earn-in agreement with Triprop Holdings, Kalahair Metals had now completed its first stage of exploration expenditure, which - subject to change of control approval from the Ministry of Mines of Botswana - would result in the company being awarded a 51% shareholding in Triprop.

“We are delighted to report that Kalahair Metals is now in a position to commence drilling at the Ngami Copper Project, having received the requisite environmental permitting and appointed a Botswana drilling contractor,” said Metal Tiger chief executive officer Michael McNeilly.

“With Phase 1 drilling to commence in early June on three initial targets constituting prospective structural and geochemical anomalies, we are looking forward to moving the project up the value curve.

“Intersecting the mineralised contact in these early stage exploration holes will provide support for the target generation methodology, which we believe will justify a more aggressive follow-on drill programme to fully evaluate the potential of each of the targets.”