Metal Tiger PLC (AIM:MTR, OTC:MRTTF, ASX:MTR) hailed investee Cobre Ltd (ASX:CBE)’s announcement it intersected significant copper mineralisation at Kalahari Metals Ltd’s Ngami copper project in Botswana.
The first drill hole intersected a broad zone of copper mineralisation starting from 214 metres and continuing for approximately 59 metres, based on visual estimates that were confirmed with readings from portable X-ray fluorescence analysers.
The drill hole demonstrated that mineralisation increases and thickens out significantly, Cobre said.
“This new copper discovery represents a transformational moment for Cobre shareholders,” said Cobre executive chairman and managing director Martin Holland. “Now we have a promising copper intersection, on one of the most prospective copper belts in the world.
“This result, 1km away from the previous historic hole, shows the current mineralisation thickens over a 1km zone to date.”
Metal Tiger has a 21% stake in Cobre.