MTR.L Share News (MTR)

(Sharecast News) - Strategic natural resource opportunities investor Metal Tiger updated the market on its exploration activities at the new joint venture, Tshukudu Exploration, in the Kalahari Copper Belt in Botswana on Monday.The AIM-traded company holds a 30% interest in Tshukudu Exploration via Metal Capital Exploration, with MOD Resources holding the remaining 70%.In addition, MTR holds approximately 12.5% of the issued share capital of MOD.Metal Tiger said the third diamond drilling hole, MO-T23-003D, at the T23 Dome had intersected wide zones of finely disseminated chalcocite and bornite copper mineralisation from 85m to 385m downhole depth, with a "strongly mineralised" vein at 268m showing potential for high-grade intersections.Assay results were awaited.It explained that MO-T23-003D was approximately 700m east of drill holes MO-T23-001D and MO-T23-002D, where visible disseminated copper mineralisation was also intersected as announced on 21 November.Drilling had now commenced at MO-T23-004D, 250m north of MO-T23-003D, targeting the regionally prospective Ngwako Pan Formation contact which was not intersected in MO-T23-003D.Airborne electromagnetic (AEM) geophysics survey data was interpreted for 390 square kilometres over the T23 Dome, T4 Prospect and T22 areas had identified several new buried dome structures and fold features, which offered structural drilling targets for a drilling programme planned for early 2019.Multiple copper and zinc soil anomalies were identified to south of T23 Dome, extending approximately 60 kilometres along the centre of the T20 Exploration Project and open to the west, which the board said were a high priority for drill testing in early 2019.Assay results that were received for hole MO-T23-001D, whilst low, showed copper mineralisation was associated with the same lower D'Kar Formation sequence which hosted all known deposits in the Kalahari Copper Belt, the board said."We are delighted to report another intersection of shallow copper mineralisation on the T23 Dome, which forms part of the T20 Exploration Project, 100 km west of the T3 Project," said Metal Tiger chief executive officer Michael McNeilly."With further drilling targets identified by the latest geophysics data interpretation and soil sampling results, we have a qualified pipeline of further exploration drilling targets and a good prospect of new discoveries for 2019."