Cobre Limited Initial Assay Results

20 Jul 2020 09:07

 

20 July 2020

Metal Tiger plc

(“Metal Tiger” or the “Company”)

Cobre Limited Initial Assay 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 new high-grade massive sulphide copper at the Schwabe Prospect of its Perrinvale.

Highlights:

Initial assay results from Cobre’s third drilling program at the Perrinvale VHMS Project received;First diamond core hole at Schwabe Prospect has identified additional VHMS mineralisation adjacent to previous drill results, with two massive sulphide zones intercepted at shallow depth, including: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 48.0m; and3.5m @ 2.0% Cu, 1.4% Zn, 0.07% Co, 344 ppm Pb, 0.3 g/t Au, 7.4 g/t Ag from 54.5mFollow-up RC drilling at Schwabe indicates the VHMS mineralisation horizon extends both north and south of the main prospect area;Visual observation from drilling at the Zinco Lago, Zinco Rame and Lago Rame prospects confirm continuity and indicates a second mineralised horizon along trend to the east; andMajority of assays pending, with results expected to be released in the coming weeks.

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

https://www.asx.com.au/asxpdf/20200720/pdf/44kns4hqgf602c.pdf

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

“As noted by Martin Holland, Executive Chairman and MD of Cobre, we are pleased that the early results from Cobre’s third drilling campaign at the Perrinvale Project has identified the presence of additional VHMS mineralisation in the company’s exploration area. In particular, preliminary drill results suggest continuity of the mineralised interflow horizon to the north and south of the high-grade massive sulphides at the Schwabe Prospect. Furthermore, the discovery of a second package of interflow sediments to the east of the existing Zinco Lago – Lago Rame gossan trend is also highly encouraging and we continue to look forward to further results from this increasingly exciting project.”

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200720005234/en/

Copyright Business Wire 2020