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Forest Permits Received - Mukai & Mushima North

31 Jul 2023 07:00

RNS Number : 6447H
Tertiary Minerals PLC
31 July 2023
 

 31 July 2023

 

Tertiary Minerals plc ("Tertiary" or "the Company")

 

FOREST PERMITS RECEIVED - MUKAI & MUSHIMA NORTH COPPER PROJECTS, ZAMBIA

 

Tertiary Minerals plc is pleased to advise that the necessary permissions have now been received from the Forest Department in Zambia to carry out the Company's proposed soil sampling programmes in the forest areas within the Mukai and Mushima North project licences.

Highlights:

· Mukai & Mushima North are two of five projects in Zambia where Tertiary is exploring for copper.

 

· Both projects benefit from the technical cooperation and data sharing agreement with leading Zambian and global copper producer First Quantum Minerals ("FQM").

 

Ø Mushima North

 

· The two highest priority targets to be covered by soil sampling are:

Ø Target C1 - A prominent gravity high defined by BHP Billiton's Falcon airborne gravity survey with a coincident copper soil anomaly. The wide, low-grade, intersection of copper mineralisation recently announced from resampling core from drill hole RKN800 sits on the margin of the gravity anomaly making this an exciting target for follow up. Drill hole RKN800 pre-dates BHP Billiton's gravity survey. The C1 gravity anomaly was designated as an IOCG drill target by BHP Billiton, but never tested.

Ø Target A1 - A 1.7km long copper soil anomaly with values up to 350ppm copper (in portable x-ray fluorescence analysis) defined by 500m spaced samples and supported by coincident arsenic and zinc anomalies. This is a target for more conventional Copperbelt style mineralisation.

· The Company has designed a programme of follow up exploration which will start with soil sampling to infill the FQM 500m spaced soil data and define drill targets.

 

Ø Mukai

 

· Mukai is strategically located:

 

Ø adjoining FQM's Trident Project which incorporates the Sentinel copper mine complex and the recently opened Enterprise nickel mine.

 

Ø west of Arc Minerals' Zambian Copper Project where Anglo-American has the right to invest up to US$88.5 million to earn a 70% joint venture interest.

 

· Extensive data compilation and review has highlighted FQM's discovery of copper and nickel mineralisation at the Tirosa Prospect immediately adjacent to the Mukai property boundary and historical soil sample anomalies suggest that this mineralisation may continue into the Mukai licence.

 

Commenting today, Executive Chairman Patrick Cheetham said:

"We know that our shareholders have been waiting patiently for these permits to be granted but we are now clear to start the Company's 2023 exploration projects on these two exciting copper projects.

Mineral exploration and mining are not excluded from forest areas and historically permits to explore in these have been readily obtained. From my recent visit to Zambia it is clear that that the Zambian Government is serious about its objective to increase copper production three-fold and is taking the necessary actions to ensure that all Ministries and Government Departments are fully onboard with this objective. The delays we experienced seem to reflect departmental reorganisations at the relatively new Ministry for the Green Economy which oversees the Forest Department and a number of companies have reported similar delays. We are delighted that this is now resolved.

Our objective is to now complete soil sampling over the exciting targets we have developed at Mushima North and Mukai as well as at our Konkola West Project. This will enable us to prioritise our Zambian Projects for follow up drilling having already completed similar programmes at our Lubuila and Jacks Projects."

 

PRESENTATIONS

Further information on the projects mentioned in this release can be found in the company and individual project presentations on the Company's website: https://www.tertiaryminerals.com/presentations

 

CONTACTS:

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

Harry Davies-Ball

Peterhouse Capital Limited

Joint Broker

Lucy Williams

+ 44 (0) 207 469 0930

Duncan Vasey

 

Market Abuse Regulation (MAR) Disclosure

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 which forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this announcement via a Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

 

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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Date   Source Headline
21st Jun 20248:53 amRNSDRILLING UPDATE, KONKOLA WEST COPPER PROJECT
10th Jun 20247:00 amRNSMupala Copper Project, Zambia
6th Jun 202410:53 amRNSUpdate – Agreement with Mwashia
29th May 202410:42 amRNSHalf-Yearly Report 2024
21st May 20247:00 amRNSDrilling Update, Konkola West Copper Project
9th May 20247:00 amRNSMupala Copper Project Update
2nd May 20247:00 amRNSExploration Update – Brunton Pass Project, Nevada
16th Apr 20242:00 pmRNSDrilling - Konkola West Copper Project, Zambia
9th Apr 20249:48 amRNSDrill Start - Konkola West Copper Project, Zambia
29th Feb 20247:00 amRNSTotal Voting Rights
26th Feb 20247:00 amRNSAgreement with Mwashia Resources
15th Feb 20242:31 pmRNSGrant of Warrants
15th Feb 20249:41 amRNSComplete Results of AGM
14th Feb 20242:19 pmRNSResult of AGM
6th Feb 20241:58 pmRNSUpdate: KoBold's New Mingomba Copper Discovery
18th Jan 202410:00 amRNSAnnual Report & Notice of Annual General Meeting
15th Jan 202410:15 amRNSAudited Results for Year Ended 30 September 2023
19th Dec 20239:20 amRNSCompany Presentation via Investor Meet Company
19th Dec 20237:00 amRNSEarn-In Agreement - Konkola West Project, Zambia
30th Nov 20237:00 amRNSKonkola West Copper Project, Zambia
6th Nov 20237:00 amRNSProject Update, Zambia
1st Nov 20237:00 amRNSPlacing to raise £150,000
16th Oct 20237:00 amRNSNew Soil Sampling Results - Mushima North, Zambia
5th Oct 20237:00 amRNSFirst Soil Sampling Results - Mushima North
25th Sep 20237:00 amRNSTerm Sheet for Agreement - Konkola West, Zambia
12th Sep 202310:04 amRNSProvisional Soil Sampling Results - Mukai Project
7th Sep 20237:00 amRNSGovernment Decision - Storuman Project, Sweden
6th Sep 20237:00 amRNSGovernment Decision - Storuman Project, Sweden
24th Aug 20237:00 amRNSUpdated Company Presentation
10th Aug 20237:00 amRNSExploration Update – Zambia
3rd Aug 20233:09 pmRNSUK Government Press Release Supports Zambia Growth
31st Jul 20237:00 amRNSForest Permits Received - Mukai & Mushima North
13th Jun 20237:00 amRNSNew Exploration Licence – Zambia
6th Jun 20237:00 amRNSExploration Update - Konkola West, Zambia
1st Jun 20237:00 amRNSProject Focus – Mushima North Project, Zambia
30th May 20232:40 pmRNSHALF-YEARLY REPORT 2023
17th May 20232:02 pmRNSExploration Update – Lubuila Copper Project
28th Apr 20237:00 amRNSAnalytical Results - Mushima North Copper Project
20th Apr 202310:00 amRNSExploration Update – Lubuila Copper Project
13th Apr 20232:45 pmRNSPlacing to raise £250,000
5th Apr 202310:30 amRNSProject Focus - Mukai Project, Zambia
9th Mar 202311:05 amRNSSecond Price Monitoring Extn
9th Mar 202311:00 amRNSPrice Monitoring Extension
17th Feb 20233:52 pmRNSGrant of Warrants
16th Feb 202311:39 amRNSResult of AGM
16th Feb 20237:00 amRNSChairman’s AGM Statement
14th Feb 20233:46 pmRNSHolding(s) in Company
3rd Feb 20238:20 amRNSPlacing to raise £300,000
18th Jan 20237:00 amRNSPositive Lab Results, Jacks Copper Project, Zambia
16th Jan 20237:00 amRNSEPB Approved Mushima North Copper Project, Zambia

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