12 Feb 2020 09:48
12 February 2020
Metal Tiger plc
("Metal Tiger" or the "Company")
Announcement of Visual Drill Results by Cobre Limited
Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to announce that Cobre Limited (“Cobre”) (ASX:CBE), the copper exploration company focussed on exploring the Perrinvale Copper Project, in which Metal Tiger has an 19.99% interest, has announced that the first diamond core drill hole at the Schwabe Prospect has been completed.
The drill hole confirmed the presence of Volcanogenic Massive Sulphide (“VMS”) mineralisation that was encountered during Cobre’s initial exploration programme in June 2019. The initial reverse circulation hole, completed in 2019, at the Schwabe Prospect previously intersected 5m of very-high grade VMS mineralisation, including 9.75% copper, 3.2 g/t gold, 34g/t silver and 3.1% zinc from 50m depth.
In addition, two diamond drill holes at the Zinco Lago Prospect have been completed by Cobre with disseminated and stockwork base metal mineralisation observed in both core samples, which will now be sent for assaying.
Cobre’s full press release (including visuals) can be viewed using the following link:
https://www.asx.com.au/asxpdf/20200212/pdf/44f0q7v12jhdzz.pdf
Michael McNeilly, Chief Executive Officer of Metal Tiger, commented:
“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. 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.”
Cobre Background
Cobre is an Australian based and focused exploration company seeking to create shareholder value through the successful exploration of base metal projects. It is the 80% owner of Toucan Gold Pty Ltd, which holds a group of tenements collectively referred to as the Perrinvale Project in central Western Australia. Michael McNeilly, Chief Executive Officer of Metal Tiger, is a Non-Executive Director on the Board of Cobre. Further details on Cobre is available on their website: http://www.cobre.com.au.
For further information on the Company, visit: www.metaltigerplc.com:
Enquiries:
| Michael McNeilly | (Chief Executive Officer) | Tel: +44 (0)20 7099 0738 | |||
| Mark Potter | (Chief Investment Officer) | ||||
| Richard Tulloch James Dance Jack Botros | Strand Hanson Limited (Nominated Adviser) | Tel +44 (0)20 7409 3494 | |||
| Gordon Poole James Crothers Monique Perks | Camarco (Financial PR) | Tel: +44 (0)20 3757 4980 |
Notes to Editors:
Metal Tiger plc is admitted to the AIM market of the London Stock Exchange AIM Market ("AIM") with the trading code MTR and invests in high potential mineral projects with a base, precious and strategic metals focus.
The Company's target is to deliver a high return for shareholders by investing in significantly undervalued and/or high potential opportunities in the mineral exploration and development sector. Metal Tiger has two investment divisions: Direct Equities and Direct Projects.
The Direct Equities Division invests in undervalued natural resource companies. The majority of its investments are listed on AIM, the TSX and the ASX, which includes its 3.5% interest in Sandfire Resources NL (ASX: SFR). The Company also considers selective opportunities to invest in private natural resource companies, typically where there is an identifiable path to IPO. Through the trading of equities and warrants, Metal Tiger seeks to generate cash for investment in the Direct Projects Division.
The Direct Projects Division is focused on the development of its key project interests in Botswana, Kalahari copper/silver belt through its interest in Kalahari Metals Limited. In Thailand, Metal Tiger has interests in two potentially near-production stage lead/zinc/silver mines as well as license applications and critical historical data covering antimony, copper, gold, lead, zinc and silver opportunities.
The Company actively assesses new investment opportunities on an on-going basis and has access to a diverse pipeline of new opportunities in the natural resources and mining sectors. For pipeline opportunities deemed sufficiently attractive, Metal Tiger may invest in the project or entity by buying publicly listed shares, by financing privately and/or by entering into a joint venture.
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