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Metal Tiger: Cobre kicks off Perrinvale drilling

“We are delighted to report the commencement of the Perrinvale Project diamond drilling programme, in Western Australia."

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Image source: Twitter / @MartinCHolland1

Metal Tiger PLC (LON:MTR) has relayed an update regarding its 19.99% owned Cobre Limited which is advancing drilling operations at the Perrinvale project, in Western Australia.

Cobre holds 80% of Perrinvale where an initial programme comprising 1,000 metres of drilling across three prospects - Zinco Lago; Schwabe; and Monti.

The programme is targeting an extension of the high-grade volcanogenic massive sulphide (VMS) mineralisation, previously identified at Schwabe in June last year.

READ: Cobre floats in Australia

Work starts at Zinco Lago, followed by Schwabe and then Monti.

“We are delighted to report the commencement of the Perrinvale Project diamond drilling programme, in Western Australia, where Cobre is targeting volcanogenic massive sulphide prospects and extensions to the high-grade base metal and gold drilling intercepts they made during June 2019,” said Michael McNeilly, Metal Tiger chief executive.

“We look forward to further updates from Cobre as the work proceeds and when assay results become available.”

Last month, 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.

Quick facts: Metal Tiger PLC

Price: 1.95 GBX

AIM:MTR
Market: AIM
Market Cap: £29.68 m
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