London Stock Exchange AIM-listed Metal Tiger has announced an additional USD1.1-million equity investment into Botswana focused explorer Kalahari Metals. Metal Tiger currently owns 50% of the issued share capital.
The additional investment enables Kalahari Metals to complete its planned first round drilling at the Ngami copper project and the Okavango copper project, both in Botswana.
The cutting of access tracks for the 2 100m diamond drill programme started, on schedule, last month, and drill rigs will be mobilised this week.
According to Michael McNeilly, CEO of Metal Tiger, the additional funding allows Kalahari Metals to plan further work programmes over its license holdings. “The Kalahari Copper Belt is highly prospective, and we are confident that continued exploration work in the region will potentially result in new, exciting copper discoveries,” says McNeilly.