9th Sep 2022 11:59
9 September 2022
Metal Tiger plc
("Metal Tiger" or the "Company")
Cobre Limited – Drilling intersects further significant copper mineralisation, ngami copper project
Sixth diamond drill hole intersects significant copper mineralisation between NCP08 and NCP07 demonstrating lateral continuity of mineralisation
Metal Tiger plc (AIM: MTR, ASX: MTR), the AIM and ASX listed investor in natural resource opportunities, is pleased to note that Cobre Limited (“Cobre”) has announced the sixth intersection of copper mineralisation from its ongoing drill programme on Kalahari Metals Limited’s Ngami Copper Project (“NCP”) licenses.
Drill hole NCP12 targeted the lateral extension of highly anomalous mineralisation intersected in drill holes NCP08 and NCP11-B, which, along with drill holes NCP10, NCP09, NCP07 and TRD-14-16a1, has delineated a compelling copper target with more than 4km of strike. Importantly, the copper intersection in NCP12 provides confidence in the continuity of mineralisation along the extensive strike extent.
Following completion of the fundraise announced on 4 August 2022, Metal Tiger will hold 44,572,172 ordinary shares in Cobre representing approximately 21% of Cobre’s enlarged issued share capital. Metal Tiger’s investment will be subject to Cobre shareholder approval at an upcoming general meeting.
A link to Cobre’s announcement, released today, is set out below:
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02566142-2A1397549?access_token=83ff96335c2d45a094df02a206a39ff4
Metal Tiger is currently interested in 34,764,096 Cobre shares, representing approximately 21% of Cobre’s issued share capital.
For further information on the Company, visit: https://www.metaltigerplc.com/
Enquiries:
Michael McNeilly | (Chief Executive Officer) | Tel: +44 (0)20 7099 0738 |
Mark Potter | (Chief Investment Officer) |
|
James Dance James Harris Robert Collins | Strand Hanson Limited (Nominated Adviser) | Tel +44 (0)20 7409 3494 |
Simon Johnson Steve Douglas | Arden Partners plc (Broker) | Tel: +44 (0)20 7614 5900 |
Gordon Poole James Crothers Rebecca Waterworth | 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") and the ASX Market of the Australian Securities Exchange Market ("ASX") 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: Equity Investments and Project Investments.
Equity Investments invests in undervalued natural resource companies. The majority of its investments are listed on AIM, the TSX and the ASX, which includes its 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 for the Project Investments division.
Project Investments 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.
[1] For full details of previously reported drill holes including exploration results and relevant JORC table information, refer to Cobre’s announcements to the ASX dated 27 July 2022, 1 August 2022, 3 August 2022, 16 August 2022 and 30 August 2022.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220909005226/en/
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