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Exploration Update - Jacks Copper Project, Zambia

27 Sep 2022 13:10

RNS Number : 8714A
Tertiary Minerals PLC
27 September 2022
 

 27 September 2022

 

 

Tertiary Minerals plc

("Tertiary" or "the Company")

 

Exploration Update - Jacks Copper Project, Zambia

 

Tertiary Minerals plc (LON: TYM), the AIM traded mineral exploration and development company is pleased to announce the start of a detailed soil sampling programme at the Jacks Copper Project ("Jacks") in Zambia, where Tertiary has now earned a 90% joint venture interest from local Company Mwashia Resources Ltd.

 

Highlights

 

· Detailed soil sampling planned for four separate areas to include:

 

Ø A 5.3 sq.km. area surrounding the copper mineralisation recently intersected in drilling at the Jacks Copper Prospect (announced 29 June 2022).

 

Ø Infill sampling in key areas of a 15km long soil anomaly defined by Cyprus

Amax. 

 

Ø Infill sampling of Copper:Scandium ("Cu:Sc") soil anomalies in two areas defined in wide-spaced soil sampling by First Quantum Minerals ("FQM").

 

· Tribal & Stakeholder engagement successfully completed.

 

· Up to approx. 1,600 samples to be collected on a 200m x 40m grid with initial field analysis of samples using portable XRF analyser ("pXRF") delivering results in real time.

 

 

 

Commenting today, Executive Chairman Patrick Cheetham said:

"The announcement of this programme highlights the growing momentum of our exploration programmes in Zambia following the successful drilling programme at Jacks this summer and the recent announcement of our collaborative agreement with First Quantum Minerals.

The soil sampling programme at Jacks is targeting extensions to the known copper mineralisation as well as areas defined during wide-spaced soil sampling by FQM as having high Cu:Sc ratios which can indicate the presence of copper sulphide minerals in potentially economic concentrations."

 

 

 

 

For more information, please contact

Tertiary Minerals plc:

Patrick Cheetham, Executive Chairman

+44 (0) 1625 838 679

SP Angel Corporate Finance LLP - Nominated Adviser and Broker

Richard Morrison

+44 (0) 203 470 0470

Caroline Rowe

Peterhouse Capital Limited - Joint Broker

Lucy Williams

+ 44 (0) 207 469 0930

Duncan Vasey

 

Note to Editors

Tertiary Minerals plc (LON: TYM) is an AIM traded mineral exploration and development company whose strategic focus is on energy transition metals. The Company's projects are located in stable and democratic, geologically prospective, mining-friendly jurisdictions. Tertiary's current principal activities are the discovery and development of mineral resources in Nevada, USA, and in Zambia.

 

Market Abuse Regulation

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

 

Detailed Information

Background Information

The Jacks Prospect lies within Exploration Licence 27069-HQ-LEL which covers 141.4 km2 and is located 85 km south of Luanshya in Zambia.

The geological setting of the exploration licence area is a synclinal embayment of Lower Roan Group sedimentary rocks which unconformably overlies basement rocks of the Muva Formation. The Lower Roan Group is highly prospective and hosts the majority of significant copper deposits in the Zambian portion of the Central African Copperbelt.

In May 2022, Tertiary completed four diamond drill holes as an initial test of the Jacks copper prospect. All holes intersected copper mineralisation including 6.0m grading 1.8% copper from 105.0m in hole 22JKDD03. Historic drilling results included 24.0m grading 1.3% copper in drillhole KJD10.

Copper mineralisation has now been intersected in drilling at the Jacks Prospect over a strike length of 350m and remains open along strike and at depth.

For more information on Tertiary's Phase 1 Drill Programme see the news release dated 29 June 2022.

Soil Sampling Programme

The Company has contracted GeoQuest Limited to execute the detailed soil sampling programme. As planned, approximately 1,600 samples will be collected at 40m intervals on north-south lines spaced 200m apart. Samples will be dry sieved to minus 180 microns and analysed using a pXRF analyser in the field. A subset of samples will be sent to an external laboratory for check analysis.

During the recent drilling programme pXRF analysis was used on soils to assist drill targeting at the Jacks prospect. The technique proved invaluable in pinpointing the sub-soil location of mineralisation and check analysis via conventional wet chemistry gave a good correlation with pXRF results.

Four separate areas totalling 11.5 sq.km. have been selected for detailed soil sampling.

Area A targets the southern limb of the syncline where wide-spaced soil sampling by Cyprus Amax in the 1990s located a number of copper soil anomalies that were not adequately tested.

Areas B & C have been selected to test areas where wide-spaced sampling by FQM defined areas containing anomalous concentrations of copper as well as high Cu:Sc ratios. Scandium is considered immobile in hydrothermal ore forming systems and so the Cu:Sc ratio is seen as a useful tool to discriminate between copper anomalies of interest caused by hydrothermal concentration of copper in sulphide minerals from those caused by rocks with a naturally high background contents of copper.

Area D covers an approx. 4 km strike length centred on the area of recent drilling and aims to find extensions to the mineralisation intersected by this drilling.

A series of tribal and community engagement meetings have been held to inform stakeholders and tribal leaders of the upcoming activities in the licence area.

It is anticipated that the programme will take approximately 3 weeks to complete. A map to accompany the news release and illustrate the planned programme can be found at:

https://www.tertiaryminerals.com/filemanager/Jacks_Project/Jacks_Project_Soil_Sampling.pdf

 

Notes:

1. The information in this release has been reviewed by Mr. Patrick Cheetham (MIMMM, M.Aus.IMM), Executive Chairman of Tertiary Minerals plc, who is a qualified person for the purposes of the AIM Note for Mining and Oil & Gas Companies. Mr. Cheetham is a Member of the Institute of Materials, Minerals & Mining and also a member of the Australasian Institute of Mining & Metallurgy. 

2. The news release may contain certain statements and expressions of belief, expectation or opinion which are forward looking statements, and which relate, inter alia, to the Company's proposed strategy, plans and objectives or to the expectations or intentions of the Company's directors. Such forward-looking statements involve known and unknown risks, uncertainties, and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such forward-looking statements. Accordingly, you should not rely on any forward-looking statements and save as required by the AIM Rules for Companies or by law, the Company does not accept any obligation to disseminate any updates or revisions to such forward-looking statements.

.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
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