(Alliance News) - Metal Tiger PLC on Wednesday said results from a survey at an investee's copper project were "promising".
Electromagnetic surveys are being conducted at the Perrinvale copper project, located in Australia, which is 80%-owned by Syndey-listed Cobre Ltd. Metal Tiger has a 20% stake in Cobre.
"A number of promising electromagnetic conductors have been identified within the Perrinvale project," Metal Tiger reported.
"Ground electromagnetic surveys now underway to further refine targets for the next phase of drilling at the Perrinvale project."
Metal Tiger Chief Executive Officer Michael McNeilly said: "We are pleased with these very positive results for Cobre, which demonstrate the potential being unearthed at the Perrinvale project."
Shares in the company were flat at 1.42 pence each in London on Wednesday afternoon.
By Eric Cunha; ericcunha@alliancenews.com
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