Cobre owns an 80% interest in the Perrinvale copper project, in Western Australia, which comprises prospective high-grade volcanogenic massive sulphide (VMS) targets.
“We are delighted to report this important milestone for our investment in Cobre and the initiation of the Perrinvale drilling programme which holds the potential for further exciting high-grade base metal and gold intercepts," said Michael McNeilly, Metal Tiger chief executive.
“We look forward to updating the market once initial results from the drill programme are published.”
Cobre raised A$10mln in an IPO and Metal Tiger subscribed for A$2.4mln of shares.
Metal Tiger holds a 19.99% interest in the company.