("Metal Tiger" or the "Company")
Armada Metals Limited – Diamond Drilling Intersects Magmatic Sulphides at The Nyanga Project
Metal Tiger plc (AIM: MTR, ASX: MTR), the AIM and ASX listed investor in natural resource opportunities, is pleased to announce that all three targets drilled by Armada Metals Limited (“Armada”) along the Libonga Matchiti Trend at the Nyanga Project, Gabon, have intersected magmatic sulphides.
The Phase 1 diamond drill program is now complete with a total of 3,240m having been drilled in ten drill holes at the Libonga North, Matchiti Central and Libonga South targets.
Following completion of Armada’s IPO, Metal Tiger holds 15,000,000 Armada Shares, representing approximately 14.42% of Armada’s enlarged share capital. In addition, Metal Tiger currently holds 3,333,333 options over Armada Shares, exercisable at a price of $A0.334 with a 5-year validity after admission of the company to the official list of the ASX.
A link to Armada’s announcement, released today, is set out below:
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02533562-2A1380176?access_token=83ff96335c2d45a094df02a206a39ff4
For further information on the Company, visit: www.metaltigerplc.com
Strand Hanson Limited (Nominated Adviser)
Metal Tiger PLC is admitted to the AIM market of the London Stock Exchange AIM Market ("AIM") and the ASX Market of the Australian Securities Exchange Market ("ASX") with the trading code MTR and invests in high potential mineral projects with a base, precious and strategic metals focus.
The Company's target is to deliver a high return for shareholders by investing in significantly undervalued and/or high potential opportunities in the mineral exploration and development sector. Metal Tiger has two investment divisions: Equity Investments and Project Investments.
Equity Investments invests in undervalued natural resource companies. The majority of its investments are listed on AIM, the TSX and the ASX, which includes its interest in Sandfire Resources Limited (ASX: SFR). The Company also considers selective opportunities to invest in private natural resource companies, typically where there is an identifiable path to IPO. Through the trading of equities and warrants, Metal Tiger seeks to generate cash for investment for the Project Investments division.
Project Investments is focused on the development of its key project interests in Botswana, where Metal Tiger has a growing interest in the large and highly prospective Kalahari copper/silver belt through its interest in Kalahari Metals Limited.
The Company actively assesses new investment opportunities on an on-going basis and has access to a diverse pipeline of new opportunities in the natural resources and mining sectors. For pipeline opportunities deemed sufficiently attractive, Metal Tiger may invest in the project or entity by buying publicly listed shares, by financing privately and/or by entering into a joint venture.