(Alliance News) - Metal Tiger PLC said Wednesday that its 20% investee and ASX-listed copper exploration firm Cobre Ltd has finished the first diamond core drill hole at the Schwabe prospect in the Perrinvale copper project, Western Australia.
The newly drilled hole confirmed the presence of volcanogenic massive sulphide mineralisation encountered during Cobre's initial exploration programme in June.
In addition, two diamond drill holes were completed at the Zinco Lago prospect by Cobre, with disseminated and stockwork base metal mineralisation observed in both core samples that will now be sent for assaying.
"This is an encouraging result for Cobre, confirming the presence of the VMS mineralisation at the Schwabe prospect. Three more holes are planned to be drilled at Schwabe, with the next targeting the centre of the prospect and the final two holes targeting its margins to confirm the extent of mineralisation," said Metal Tiger Chief Executive Officer Michael McNeilly.
"In addition, we are pleased to note that drilling activities have progressed at Zinco Lago and look forward to Cobre announcing the assay results from the two diamond drill holes," McNeilly added.
Shares in Metal Tiger - which is based in London - were 6.4% higher at 1.66 pence on Wednesday.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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