Metal Tiger Plc has applied to renew the licence at its Chanthaburi joint venture exploration tenement in Thailand after further exploration showed there could be more antimony than first thought. Exploration work is being undertaken by geological consultants GMT, which was commissioned by joint venture partner South East Asia Exploration & Mining.
Metal Tiger’s CEO Cameron Parry says infill survey lines have extended the strike length of the antimony anomaly to 1km and it is open at both ends.
He says that anomalous gold seen in the north of the licence area in the first phase of soil sampling had also been repeated in the consecutive infill lines, warranting the renewal of the licence and further study.
Exploration to date has comprised soil sampling, reconnaissance mapping and a review of existing information.
The JV agreement was signed in October 2014 and allows Metal Tiger to take a 75% stake in four gold exploration licences in Thailand by funding exploration work. The company will also hold 10% of two separate Thai operating subsidiaries established to hold the licences, Tiger Minerals Ltd and Tiger Resources Ltd.
The EPL for the Chanthaburi JV covers 187 hectares in the Phawa sub district of the Kaeng Hang Maeo district of Chanthaburi Province, of eastern Thailand.
Approximately 300km east of Bangkok, the property is in the area locally known as the ‘Gold-Antimony Belt’. The EPL grants an exclusive right to explore for any minerals in the area covered by the licence.
Metal Tiger also has investments in Kibo Mining, Eurasia Mining and Ariana Resources. It has a JV with Kibo on uranium and gold properties in Tanzania while Eurasia has platinum and other interests in Russia and Ariana is developing gold projects in Turkey.