A review of exploration progress at Metal Tiger’s (LON:MTR) Logrosan joint venture in Extremadura, Spain has underscored its robust potential.
The summer drilling season has shown extensive evidence of tungsten mineralisation with high-grade assays, the firm said, and the review showed the potential for more of the resource along strike.
Tungsten deposits have now been identified at targets one and two.
Chief executive Cameron Parry told investors: "The findings to date are significant and could build upon what is emerging as an extremely attractive and potentially high-grade tungsten deposit and lead into a resource development project that may hold considerable commercial value.
"We are now working with our Joint Venture partners to scope out how we should continue our work and build the commercial value of this important asset."
The project is held with UK-based special purpose vehicle Logrosán Minerals.
Metal Tiger can earn into a maximum 50% interest by investing up to €500,000