Cobre Limited (ASX:CBE) Drilling Commenced in Botswana
Drilling Commenced in BotswanaSydney, May 11, 2021 AEST (ABN Newswire) - Cobre Limited (
ASX:CBE) is pleased to announce that mobilisation to site of both Reverse Circulation (RC) and Diamond Core (DC) drill rigs has been completed and drilling has now commenced on Kalahari Metal Limited s (KML) wholly owned Kitlanya East (KIT-E) project in Botswana.
This drilling programme (refer ASX Announcement 19 April 2021 for detail) is aiming to target structurally controlled trap-sites for prospective copper/silver deposits identified in Airborne Electromagnetic (AEM), detailed magnetic, soil sampling and stratigraphic drilling which share commonalities to ASX listed Sandfire Resources Limited s (Sandfire) T3 and A4 deposits located immediately north of the KIT-E project boundary. The drill programme will include (refer Figure 1 ):
Kalahari Metals Limited: Commencement of Drilling
Metal Tiger plc (AIM: MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to provide an update in respect of the copper discovery focussed explorer, Kalahari Metals Limited (“KML”). As announced on , Metal Tiger currently holds a 50.01% interest in KML, with Cobre Limited (“Cobre”) holding the remainder of the shareholding.
Botswana
12 April 2021
Further to its announcement of , Metal Tiger is pleased to announce that drilling has now commenced on the Kitlanya East (“KIT-E”) Project area in , following the successful mobilisation of both the reverse circulation (“RC”) and diamond core (“DC”) drilling rigs to site. As detailed in the announcement of , the joint venture board of KML has approved a major new drilling programme focussed on the discovery of copper/silver deposits on the Kalahari Copper Belt (“KCB”).
Cobre Limited (CBE AX) Drilling Commenced in Botswana yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
Kalahari Metals Limited: Commencement of Drilling
Metal Tiger plc (AIM: MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to provide an update in respect of the Botswana copper discovery focussed explorer, Kalahari Metals Limited (“KML”). As announced on 12 April 2021, Metal Tiger currently holds a 50.01% interest in KML, with Cobre Limited (“Cobre”) holding the remainder of the shareholding.
Further to its announcement of 19 April 2021, Metal Tiger is pleased to announce that drilling has now commenced on the Kitlanya East (“KIT-E”) Project area in Botswana, following the successful mobilisation of both the reverse circulation (“RC”) and diamond core (“DC”) drilling rigs to site. As detailed in the announcement of 19 April 2021, the joint venture board of KML has approved a major new drilling programme focussed on the discovery of copper/silver deposits on the Kalahari Copper Belt (“KCB”).
Cobre Limited Equity Placing
Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to announce that it has subscribed for 8,311,765 new ordinary shares in ASX listed Cobre Limited (“Cobre”) at a price of AUD0.17 per share, for a total investment of approximately AUD1.413m, as part of Cobre’s AUD6.7m fundraise (the “Fundraise”) announced on 15 April 2021. This follow-on investment is subject to Cobre shareholder approval.
The funds raised by Cobre will be used primarily to finance exploration drilling activities for Kalahari Metals Limited (“KML”), the copper-silver exploration joint venture with Metal Tiger in the highly prospective Kalahari Copper Belt in Botswana.