5th Feb 2020 15:13
(Alliance News) - Metal Tiger PLC on Wednesday said its investee Cobre Ltd has commenced drilling at the Perrinvale base metals and gold project in Western Australia.
The natural resources investor owns 20% stake in Cobre, which in turn owns 80% in the Perrinvale project.
The initial Perrinvale drill progamme will include around 1,000 metres of diamond core drilling at three prospects - Zinco Lago, Schwabe and Monti - targeting an extension of the high-grade volcanogenic massive sulphide mineralisation identified at the Schwabe prospect.
In June 2019, Cobre undertook an initial reverse circulation drilling programme within the Perrinvale tenements, in order to investigate targets identified by an earlier electromagnetic survey. At that time, the drilling programme intersected high-grade volcanogenic massive sulphide style base metal and gold mineralisation at shallow depths.
Subsequently, Cobre completed an airborne electromagnetic survey within the Perrinvale project area and identified ten potential volcanogenic massive sulphide prospects.
Metal Tiger shares in London were down 2.8% at 1.17 pence each on Wednesday afternoon.
By Tapan Panchal; [email protected]
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