Metal Tiger plc (LON:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, has today noted the announcement made earlier today by Cobre Limited (ASX:CBE), the copper exploration company focussed on exploring the Perrinvale Copper Project, regarding the results from Down Hole Electromagnetic Surveys.
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 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, 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.”
