LONDON, August 16, 2022--(BUSINESS WIRE)--
Metal Tiger plc
("Metal Tiger" or the "Company")
Cobre Limited – Additional Significant Copper Intersection Extends Mineralisation a Further 1KM to The Northeast, Ngami Copper Project
Fourth diamond drill hole intersects further copper mineralisation extending the target footprint to over 4km
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 fourth intersection of copper mineralisation from its ongoing drill programme on Kalahari Metals Limited’s Ngami Copper Project ("NCP") licenses.
Based on visual estimates, confirmed with pXRF readings, drill hole NCP10 has intersected a broad 69m zone of copper mineralisation which includes a 13m zone of abundant chalcocite mineralisation which is centred at 310m down hole.
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 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:
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/
(Chief Executive Officer)
Tel: +44 (0)20 7099 0738
(Chief Investment Officer)
Strand Hanson Limited (Nominated Adviser)
Tel +44 (0)20 7409 3494
Arden Partners plc (Broker)
Tel: +44 (0)20 7614 5900
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.
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Metal Tiger plc