Metal Tiger plc (LON:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, today announced that Kalahari Metals Limited, in which Metal Tiger owns 50% of the issued share capital, has received notification that the Environmental Management Plan for KML’s Ngami Copper Project has been reviewed and approved by the Botswana Department of Environmental Affairs (“DEA”), subject to a four-week public review period.
The public review is the precursor to the EMP authorisation which, if granted, would allow diamond drilling to commence on three compelling targets within the NCP. Competitive drilling tenders have been received and KML is confident drilling will take place shortly after completion of the public review.
In addition, the EMP for KML’s Okavango Copper Project (“OCP”) has been resubmitted with clarifications following feedback from the DEA. KML views this as a significant step forwards, as KML went through the same clarificatory process with the DEA, prior to the approval of the EMP for NCP.
The EMPs for both the Kitlanya East and Kitlanya West projects have also been submitted to the DEA, following the identification of high priority new targets for investigation in both areas, as announced 7 March 2019.
Michael McNeilly, Chief Executive Officer of Metal Tiger plc, commented:
“I am delighted by the continued support that the Botswana Department of Environmental Affairs has shown for the development of the KML portfolio, in which we see significant potential. The KML portfolio now includes a number of exciting geophysical and structural targets, which warrant further investigation by drilling. The anticipated drilling approvals for the Ngami Copper Project will commence an exciting new chapter for the Company and our shareholders, and we look forward to providing further updates in due course.”
KML holds interests in 12 highly prospective exploration licences covering a total area of 8,724km2 in the Kalahari Copper Belt, consisting of two 100% owned exploration licences, five exploration licences subject to a binding earn-in agreement with Triprop Holdings (Pty) Limited and five exploration licences subject to an agreement with Resource Exploration and Development Ltd.
Under an investment agreement, announced on 6 June 2018, Metal Tiger owns 50% of KML, providing Metal Tiger with further exposure to a largely unexplored area, adjacent to significant recent discoveries in the highly prospective Kalahari Copper Belt.