Cobre: 6,000 Meter Drilling Campaign to Commence at Perrinvale Project

LONDON--(BUSINESS WIRE)-- 

19 May 2020

Metal Tiger plc

(“Metal Tiger” or the “Company”)

Cobre: 6,000 Meter Drilling Campaign to Commence at Perrinvale Project

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 own a 19.99% interest, has today announced the details of its planned 6,000 metre drilling campaign at the Perrinvale Volcanic-Hosted Massive Sulphide (“VHMS”) Project located in

.waust" idsrc="xmltag.org">Western Australia.

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

https://www.asx.com.au/asxpdf/20200519/pdf/44hy46d54q4027.pdf

Cobre’s upcoming drill programme includes 3,400 metres of Reverse Circulation (RC) drilling and 2,600 metres of Diamond Drilling (DD). The field crews have begun mobilising to site in preparation for the arrival of drill rigs later this month. The first DD holes are expected to commence at Zinco Lago and first RC holes at Schwabe.

The key targets of this exploration drilling campaign will be:

  • to further explore the VHMS mineralisation modelled by the soon to be completed Moving Loop Electromagnetic (“MLEM”) surveys at the Schwabe Prospect by RC drilling, which will be followed by step-out DD holes;
  • to drill two diamond core holes at the Zinco Lago Prospect to test the potential of the primary sulphides identified in the previous drilling campaign, which indicated a massive sulphide or highly graphitic lithology;
  • to drill the Zinco Rame prospect, which is the central part of a trend between Zinco Lago and Lago Rame identified as part of the recent MLEM program;
  • to drill new VHMS targets at Piega del West and Costa del Islas; and
  • potentially drill the Ponchiera Copper and Ponchiera North prospects, following the results of the ongoing MLEM survey.

Michael McNeilly, Chief Executive Officer of Metal Tiger plc, commented:

“Following the exceptional drilling results in the initial exploration programmes, Cobre has already proven the multi commodity potential at Perrinvale. With this new phase however, we look forward to potentially expanding upon that potential as Cobre drills existing prospect discoveries, as well as testing multiple new prospects at new locations. We look forward to receiving further news from the campaign and to updating shareholders as drilling progresses.”

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 3.64% 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 in the Direct Projects Division.

The Direct Projects Division 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.

Metal Tiger plc

Source: Metal Tiger plc