Metal Tiger plc (LON:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, has today provided an update on Cobre Limited, in which the Company has a 19.99% interest.
Cobre has received and published the assay results from its recent diamond drilling exploration programme within the Perrinvale Project area of Western Australia.
Highlights of the drilling programme include:
- Schwabe Prospect – drilling and assay results confirm the presence of a high-grade VHMS system containing primary copper, zinc, gold and silver at shallow depth, including:
- DD Hole 20PVDD003 – 6m @ 8.39% Cu, 3.52% Zn, 30g/t Ag, 0.14% Co, 3.1g/t Au from 49m
- DD Hole 20PVDD004 – 6m @ 5.63% Cu, 3.89% Zn, 22g/t Ag, 0.1% Co, 1.4g/t Au from 28m
- Zinco Lago Prospect – drilling results uncovered disseminated, stringer and narrow massive base metal sulphide mineralisation.
- Exploration Programme Moving Forward – further electromagnetic work will now be completed to provide updated targets for the next phase of drilling at Perrinvale.
Further details about the drilling results (including images) are provided in Cobre’s announcement, which can be viewed via the following hyperlink:
https://www.asx.com.au/asxpdf/20200416/pdf/44gztnszv76n3r.pdf
Cobre Background
Cobre is an Australian based and focused exploration company seeking to create shareholder value through the successful exploration of base metal projects. It listed on the ASX in January 2020, under the ticker CBE, in conjunction with an oversubscribed IPO raising A$10 million.
Cobre is the 80% owner of Toucan Gold Pty Ltd, which holds a group of tenements collectively referred to as the Perrinvale Project in central Western Australia. Michael McNeilly, Chief Executive Officer of Metal Tiger, is a Non-Executive Director on the Board of Cobre. Further details on Cobre are available on its website: http://www.cobre.com.au.
Michael McNeilly, Chief Executive Officer of Metal Tiger, commented:
“These are strong drilling results which confirm the presence of significant VHMS mineralisation and strong grades across the Perrinvale Project. I look forward to the results and analysis of further EM studies which will help guide the next phase of exploration drilling.”
