("Metal Tiger" or the "Company")
Cobre Limited – Ngami Copper Project assay results confirm significant copper mineralisation
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 positive assay results from the first three drill holes at the Ngami Copper Project in the Kalahari Copper Belt, Botswana. Assays returned highly anomalous copper and silver results, with drill hole NCP08 demonstrating potential for economic concentrations of copper within the target.
The ongoing 500m infill drill programme has now completed drill holes NCP13 and NCP14, both of which have intersected notable copper mineralisation at the expected target depth, and will now focus on completing the 500m spaced lateral coverage along the target and extending the target footprint to the northeast. This phase of drilling will include eight additional diamond drill holes totalling approximately 2400m, and is expected to be completed by the end of October 2022.
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 enlarged 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:
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02570716-2A1399801?access_token=83ff96335c2d45a094df02a206a39ff4
Metal Tiger is currently interested in 34,764,096 Cobre shares, representing approximately 17% of Cobre’s issued share capital.
For further information on the Company, visit: https://www.metaltigerplc.com/
Strand Hanson Limited (Nominated Adviser)
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.