16 Apr 2020 09:43
16 April 2020
Metal Tiger plc
(“Metal Tiger” or the “Company”)
Cobre – High-Grade VHMS System Confirmed, Significant High-Grade Copper Gold Results
Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to provide an update on Cobre Limited (“Cobre”), in which the Company has a 19.99% interest.
Cobre has received and published the assay results from its recent diamond drilling exploration programme within the Perrinvale Project area of Western Australia.
Highlights of the drilling programme include:
Schwabe Prospect - drilling and assay results confirm the presence of a high-grade VHMS system containing primary copper, zinc, gold and silver at shallow depth, including: DD Hole 20PVDD003 – 6m @ 8.39% Cu, 3.52% Zn, 30g/t Ag, 0.14% Co, 3.1g/t Au from 49m DD Hole 20PVDD004 – 6m @ 5.63% Cu, 3.89% Zn, 22g/t Ag, 0.1% Co, 1.4g/t Au from 28m Zinco Lago Prospect - drilling results uncovered disseminated, stringer and narrow massive base metal sulphide mineralisation. Exploration Programme Moving Forward – further electromagnetic work will now be completed to provide updated targets for the next phase of drilling at Perrinvale.Further details about the drilling results (including images) are provided in Cobre’s announcement, which can be viewed via the following hyperlink:
https://www.asx.com.au/asxpdf/20200416/pdf/44gztnszv76n3r.pdf
Michael McNeilly, Chief Executive Officer of Metal Tiger plc, commented:
“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 EM studies which will help guide the next phase of exploration drilling.”
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 listed on the ASX in January 2020, under the ticker CBE, in conjunction with an oversubscribed IPO raising A$10 million.
Cobre 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 are available on its website: http://www.cobre.com.au.
For further information on the Company, visit: www.metaltigerplc.com:
| 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 | |||
| Paul Shackleton Steve Douglas | Arden Partners plc (Broker) | Tel: +44 (0)20 7614 5900 | |||
| Gordon Poole James Crothers Hugo Liddy | 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 3.69% 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, In Botswana, Metal Tiger has a growing interest in the large and highly prospective Kalahari copper/silver belt through its interest in Kalahari Metals Limited.
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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