StockMarketWire.com - Metal Tiger has provided an update regarding the its Joint Venture project with partners MOD Resources in the Kalahari Copper Belt in Botswana.

The Company currently owns a 30% stake in the JV.

The key highlights included:

- JV partners set regional exploration budget at AUD 10M for 12 months commencing 1 October 2017, to fast track drilling of district-scale copper targets.

- Metal Tiger to contribute 30% of incurred exploration costs, up to GBP 1.85M at current exchange rates, in line with direct JV holding.

- Work to focus on 150km corridor within the highly prospective Kalahari Copper Belt which hosts T3 and other copper targets.

- Drilling targets will include airborne electromagnetic geophysics anomalies as well as soil copper anomalies.

Michael McNeilly Chief Executive Officer of Metal Tiger commented:

"The Botswana project has continued at every step to outperform our expectations and this decision to increase the exploration provision has been driven by our growing understanding of the potential of the Botswana Copper Belt, with the many exciting new copper targets identified over the past year and the encouraging results to date. This is against a backdrop of growing copper prices, with copper currently at a 52-week high up almost 50% over the September 2016 low.

"We are also hugely encouraged by the positive impact of the growth in electric vehicles on copper demand, with the International Copper Association forecasting a 9-fold increase in copper demand in the electric vehicle sector over the next decade."




At 1:18pm: [LON:MTR] Metal Tiger Plc Ord 0.01p share price was 0p at 2.15p



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