StockMarketWire.com - Metal Tiger provided an update regarding the company's joint venture (JV) project with partners MOD Resources in the Kalahari Copper Belt in Botswana (70% MOD Resources / 30% Metal Tiger). Metal Tiger also holds 91,795,214 MOD shares, equivalent to 4.86% of MOD's issued share capital and 1,541,667 MOD warrants at an exercise price of 6 cents (Australian). Activities in Botswana are conducted under the JV's local operating company Tshukudu Metals Botswana (Tshukudu). HIGHLIGHTS: - Revised, JORC (2012) compliant, Mineral Resource Estimate completed for T3 Project following inclusion of all drilling results from holes completed in first quarter 2017. Revised Resource updates and supersedes the previous, maiden, Mineral Resource Estimate (announced 26 September 2016) - Total (Measured, Indicated & Inferred) Mineral Resource Estimate comprises 36Mt @ 1.14% Cu & 12.8g/t Ag containing approximately 409kt copper and 14.8Moz silver on a 100% basis (10.8Mt containing approximately 123kt copper and 4.4Moz silver on a 30% attributable basis) - Constitutes a 27% increase in Total Resource tonnes a 16% increase in contained copper compared with the Maiden Resource (at 0.5% Cu cut-off grade) - 25% of Total Resource tonnes now in Measured Resource category (8.9Mt on a 100% basis and 2.7Mt on a 30% attributable basis @ 1.27% Cu & 12.5g/t Ag), denoting a higher degree of Resource confidence (at 0.5% Cu cut-off grade) - At a higher cut-off grade (1% Cu), the revised total Mineral Resource Estimate comprises 20.6Mt on a 100% basis (6.2Mt on a 30% attributable basis) at average grades of 1.43% Cu and 14.7g/t Ag - An additional low-grade Resource contains approximately 47.6kt copper on a 100% basis (14.3kt on a 30% attributable basis) at 0.25% Cu cut-off grade - The revised Resource model shows good grade continuity with horizontal widths of >1% Cu mineralisation up to 180m across the planned open-pit design - T3 (Phase 2) 2017 drilling programme currently underway with four rigs to test further Resource extensions, underground potential and geophysical targets around T3. All six new holes completed to date have intersected significant visible copper mineralisation and results will be announced when assays are received and interpreted. CEO Michael McNeilly commented: "The revised Mineral Resource Estimate is another important and positive step towards the anticipated T3 Prefeasibility Study and constitutes a significant upgrade to the Project with a 27% increase in Total Resource tonnes and over 400,000 tonnes more contained copper. "The 16% increase in contained copper has the potential to increase the value and profitability of a future mine, the potential value is further compounded by the circa 30% rise in copper price since the maiden resource was announced last September. "With the current copper price now approaching the US$3/lb used for the upside case in the original T3 Scoping Study we released on 6 December 2016. the team will be looking to optimise the planned mining schedule and processing rates to maximise the future economics in the upcoming Prefeasibility Study." At 8:05am: (LON:MTR) Metal Tiger Plc Ord 0.01p share price was -0.1p at 2.15p Story provided by StockMarketWire.com