(Alliance News) - Metal Tiger PLC on Thursday noted "strong" drilling results published by investee Cobre Ltd in relation to the diamond drilling exploration programme in the Perrinvale project in Western Australia.
Metal Tiger holds a 20% stake in Australia-focused ASX-listed exploration company Cobre.
The investor said that drilling and assay results at the Schwabe Prospect confirmed the presence of a high-grade VHMS system containing primary copper, zinc, gold and silver at shallow depth. Drilling results at the Zinco Lago prospect showed disseminated, stringer and narrow massive base metal sulphide mineralisation.
Metal Tiger said that the next step in the programme will see electromagnetic work being done o provide updated targets for the next phase of drilling.
"These are strong drilling results which confirm the presence of significant VHMS mineralisation and strong grades across the Perrinvale project. I look forward to the results and analysis of further electromagnetic studies which will help guide the next phase of exploration drilling," said Metal Tiger Chief Executive Michael McNeilly.
Metal Tiger shares closed 0.6% lower at 1.19 pence each on Thursday in London.
By Ife Taiwo; firstname.lastname@example.org
Copyright 2020 Alliance News Limited. All Rights Reserved.