Cobre Limited: Drill Results

20 Aug 2020 09:16

 

Metal Tiger plc

(“Metal Tiger” or the “Company”)

Cobre Limited: Drill Results

Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to announce that Cobre Limited (ASX: CBE) (“Cobre”), in which Metal Tiger owns a c. 18.8% interest, has today announced further assay results from the third drilling campaign at the Perrinvale high-grade VHMS project.

Highlights:

Majority of assay results from the third drilling campaign at the Perrinvale high-grade VHMS project received;Recent drill holes at the Schwabe Prospect continue to deliver high-grade intercepts including:

12m@ 2.9% Cu, 1.0% Zn, 0.05% Co, 192 ppm Pb, 0.7 g/t Au, 10.2 g/t Ag from 45m

(including 4m@ 8.3% Cu, 2.9% Zn, 0.12% Co, 555 ppm Pb, 2.0 g/t Au, 29.8 g/t Ag)

3.5m@ 3.4% Cu, 0.8% Zn, 0.10% Co, 368 ppm Pb, 1.1 g/t Au, 16.5 g/t Ag from 48m

5.4m@ 2.8% Cu, 1.3% Zn, 0.05% Co, 131 ppm Pb, 1.1 g/t Au, 12.1 g/t Ag from 67m

4m@ 2.1% Cu, 0.6% Zn, 0.04% Co, 297 ppm Pb, 0.4 g/t Au, 5.2 g/t Ag from 23m

3.5m@ 2.0% Cu, 1.4% Zn, 0.07% Co, 344 ppm Pb, 0.3 g/t Au, 7.4 g/t Ag from 54m

7m@ 2.0% Cu, 0.8% Zn, 0.04% Co, 80 ppm Pb, 0.4 g/t Au, 4.9 g/t Ag from 27m

Assay results confirm that the mineralised horizon at Schwabe extends 500m along strike. In-addition visual observations indicate that mineralisation continues ~270m below surface;Maiden mineralisation intercepts were also discovered at the Costa del Islas, Piega del West and Ponchiera prospects within the Perrinvale tenements; andDownhole Electromagnetic Surveys now underway with follow-up Diamond Drilling to commence on site next week.

Cobre’s full announcement including maps of prospect locations can be found here:

https://www.asx.com.au/asxpdf/20200820/pdf/44lpzxv38x4zsj.pdf

Mr Michael McNeilly, Chief Executive Officer of Metal Tiger, said:

“I am encouraged to see continued high-grade VHMS results at Schwabe and that other areas across the 381km2 Perrinvale Project present strong VHMS potential from very early drilling. Overall, I believe that Cobre has barely “scratched the surface” of Perrinvale, which is a truly exciting asset.

“We look forward now to further activity from Cobre at Perrinvale, with additional assays expected shortly, DHEM surveys also underway and a second-deep hole at Schwabe now planned to further test the down dip potential.”

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: Equity Investments and Project Investments.

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. Through the trading of equities and warrants, Metal Tiger seeks to generate cash for investment for the Project Investments division.

Project Investments is focused on the development of its key project interests in Botswana, where 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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