METAL TIGER PLC: Cobre Geophysical Survey Update for Perrinvale Project
22 Aprile 2020 - 8:04AM
UK Regulatory
TIDMMTR
22 April 2020
Metal Tiger plc
("Metal Tiger" or the "Company")
Cobre -- Geophysical Survey Update for Perrinvale Project
Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed
investor in natural resource opportunities, is pleased to note the
announcement made earlier today by Cobre Limited ("Cobre")
(ASX:CBE), the copper exploration company focussed on exploring the
Perrinvale Copper Project ("Perrinvale" or "Perrinvale Project"),
regarding the results from Down Hole Electromagnetic Surveys
("DHEM").
Cobre has an 80% interest in Toucan Gold Pty Ltd, which wholly
owns Perrinvale. Metal Tiger has a 19.99% equity interest in
Cobre.
Cobre's announcement can be accessed via the following
hyperlink:
https://www.asx.com.au/asxpdf/20200422/pdf/44h4pnkmfj5rxf.pdf
Highlights:
-- DHEM surveys have been undertaken on the recently completed diamond core
drill holes at the Schwabe, Zinco Lago and Monti Prospects, plus two of
the reverse circulation holes drilled in 2019.
-- A number of promising electromagnetic conductors have been identified
within the Perrinvale Project including: the existing Schwabe drill area;
below recent drilling at Zinco Lago; off hole along the Zinco Lago - Lago
Rame gossan trend; and adjacent to the recent Monti drilling.
-- Ground electromagnetic surveys now underway to further refine targets for
the next phase of drilling at the Perrinvale Project.
Cobre's announcement sets out the results from the DHEM surveys
undertaken following the recent diamond drilling programme within
the Perrinvale Volcanic-Hosted Massive Sulphide ("VHMS") Project
located in Western Australia.
Cobre has confirmed that it has now commenced a programme of
ground electromagnetic surveys across the Perrinvale Project area,
seeking to achieve the following broad objectives:
-- to assess the potential for deeper conductors associated with the Schwabe
VHMS system;
-- further assessment of areas where DHEM conductors may be open or are yet
to generate clear models; and
-- improve resolution of other priority conductors noted in the 2019
airborne electromagnetic survey.
Michael McNeilly, Chief Executive Officer of Metal Tiger plc,
commented:
"We are pleased with these very positive results for Cobre,
which demonstrate the potential being unearthed at the Perrinvale
Project. We are pleased to see correlation with existing models,
demonstrating increased potential across the existing licence area
and we are delighted to note the identification of the new Lago
Rame Gossan prospect. We look forward to further results in due
course as the exploration programme continues."
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 Strand Hanson Limited Tel +44 (0)20 7409 3494
James Dance (Nominated Adviser)
Jack Botros
Paul Shackleton Arden Partners plc Tel: +44 (0)20 7614 5900
Steve Douglas (Broker)
Gordon Poole Camarco (Financial PR) Tel: +44 (0)20 3757 4980
James Crothers
Hugo Liddy
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 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, 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/20200421005972/en/
CONTACT:
Metal Tiger plc
SOURCE: Metal Tiger plc
Copyright Business Wire 2020
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