Tertiary Minerals PLC - mineral exploration and development in the US state of Nevada and in northern Europe - Completes evaluation of its results from soil sampling and magnetic surveying at its Mt Tobin silver project in Nevada, US. Silver-in-soil anomalies defined over strike length of 1,200 metres and widths of 75 metres to 200 metres. Associated soil and magnetic anomalies defined over substantial strike length. Maximum value of 15.7ppm silver - 0.46 ounces per ton - in soils against anomaly thresholds of 0.5 and 1ppm silver, Tertiary notes.
Executive Chair Patrick Cheetham says: "It is pleasing to report positive results from our continuing exploration at Mt Tobin. The strong association of magnetic and silver-in-soil anomalies containing up to 15.7ppm silver makes for an exciting exploration target. Follow up field evaluation of these anomalies is now planned."
Separately, issues 54.2 million shares to Precious Metal Capital Group LLC, under previous subscription agreement. The purchase price, being 0.24 pence per share or an aggregate of GBP130,000, had been prepaid by PMCG as part of its lump sum investment of £600,000 in the company.
Current stock price: 0.36 pence
Year-to-date change: up 43%
By Paul McGowan; paulmcgowan@alliancenews.com
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