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Metal Tiger notes drilling to commence at Cobre's Perrinvale project; announces passing of Terry Grammer

Perrinvale is prospective for gold, silver and copper

Cobre Ltd -

Metal Tiger PLC (LON:MTR) noted that Cobre Ltd (ASX:CBE), a company in which it holds a 19.99% interest, has revealed plans to drill 6,000 metres at the Perrinvale project in Western Australia.

Cobre’s upcoming drill programme includes 3,400 metres of reverse circulation (RC) drilling and 2,600 metres of diamond drilling (DD). The field crews have begun mobilising to site in preparation for the arrival of drill rigs later this month.

The first diamond holes are expected to commence at Zinco Lago and first RC holes at Schwabe.

“Following the exceptional drilling results in the initial exploration programmes, Cobre has already proven the multi-commodity potential at Perrinvale,” Michael McNeilly, chief executive of Metal Tiger said in a statement.

“With this new phase, however, we look forward to potentially expanding upon that potential as Cobre drills existing prospect discoveries, as well as testing multiple new prospects at new locations. We look forward to receiving further news from the campaign and to updating shareholders as drilling progresses,” he added.

Separately, Metal Tiger also announced the death of Terry Grammer, a non-executive director of the company. It said the board of Metal Tiger extended its deepest sympathies to Grammar's family and would like to acknowledge its gratitude for his significant contribution to the development and growth of the company over many years.

Charles Hall, Metal Tiger's chairman commented: “We are deeply saddened by the loss of Terry, whose expertise, insights and guidance have played a critical role in Metal Tiger’s foundation and growth. He will be greatly missed but his legacy will be carried on in our hearts and minds. Our thoughts go to his family and loved ones.”

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Price: 24.75 GBX

Market: AIM
Market Cap: £37.94 m


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