Metal Tiger PLC (AIM:MTR, OTC:MRTTF, ASX:MTR) said its investee company Cobre announced the fourth intersection of copper mineralisation from its ongoing drill programme on Kalahari Metals Limited’s Ngami Copper Project licences.
The AIM and ASX-listed investor in natural resource companies said drill hole NCP10 intersected a broad 69m zone of copper mineralisation, based on visual estimates confirmed with pXRF readings.
This includes a 13m zone of abundant chalcocite mineralisation which centred 310m downhole.
Today's announcement builds on updates in recent weeks regarding Cobre, which noted the district scale opportunity at the licence.
Following completion of the fundraise announced on 4 August 2022, Metal Tiger will hold 44.5mln ordinary shares in Cobre representing approximately 21% of Cobre’s issued share capital.
Metal Tiger’s investment will be subject to Cobre shareholder approval at an upcoming general meeting.