1 Feb 2023 11:17
Metal Tiger plc
("Metal Tiger" or the "Company")
Cobre Limited – Confirmation of Multi-target Copper District and Commencement of 2023 Drilling Programme
Metal Tiger plc (AIM: MTR, ASX: MTR), the AIM and ASX listed investor in natural resource opportunities, is pleased to note that Cobre Limited (“Cobre”) has published assay results from its regional diamond drilling programme completed in late 2022, in addition to the commencement of its 2023 drilling programme at the Ngami Copper Project (NCP) in Botswana.
The 2022 regional drilling programme confirmed notable copper/silver Cu/Ag mineralisation at three targets, and anomalous Cu/Ag at a further two targets.
Cobre has now commenced its 2023 drilling programme at the NCP, with two diamond drill rigs currently drilling a 5,000m programme. A further planned 10,000m drilling programme at Kitlanya West is expected to provide additional Cu/Ag targets for diamond drilling.
Following completion of the placing and closure of the Share Purchase Plan, Metal Tiger will be interested in 53,656,803 shares in Cobre, representing approximately 18.76%.
Michael McNeilly, CEO of Metal Tiger, said:
“This is a very encouraging update from Cobre. The promising drill results provide further confidence in Cobre’s exploration approach, with the identification of a number of compelling new targets in the region of the Kalahari Copper Belt. We look forward to further exploration updates following the ongoing drilling programme and upcoming programme at Kitlanya West.”
A link to Cobre’s announcement, released today, is set out below:
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02626830-2A1428135?access_token=83ff96335c2d45a094df02a206a39ff4
For further information on the Company, visit: https://www.metaltigerplc.com/
Enquiries:
Michael McNeilly | (Chief Executive Officer) | Tel: +44 (0)20 3287 5349 |
Mark Potter | (Chief Investment Officer) |
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James Dance Richard Johnson Robert Collins | Strand Hanson Limited (Nominated Adviser) | Tel +44 (0)20 7409 3494 |
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Simon Johnson Alexandra Campbell-Harris | Zeus Capital Limited (Broker) | Tel: +44 (0)20 7614 5900 |
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Gordon Poole Elfie Kent Rebecca Waterworth | 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") and the ASX Market of the Australian Securities Exchange Market ("ASX") 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.
Equity Investments invests in undervalued natural resource companies. The majority of its investments are listed on AIM, the TSX and the ASX, which includes its interest in Sandfire Resources Limited (ASX: SFR). The Company also considers selective opportunities to invest in private natural resource companies, typically where there is an identifiable path to IPO.
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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