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Mupala Copper Project, Zambia

10 Jun 2024 07:00

RNS Number : 6822R
Tertiary Minerals PLC
10 June 2024
 

 

10 June 2024

 

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

 

MUPALA COPPER PROJECT, ZAMBIA

COMMENCEMENT OF WORK PROGRAMMES

Further to the news release dated 9 May 2024, the Company is pleased to announce the commencement of exploration operations at its Mupala Copper Project in the highly prospective Kabompo Dome of the Northwestern Province, Zambia.

Key Points

· The Mupala Copper Project is located adjacent to the Anglo American/Arc Minerals joint venture project, where Anglo American has a right to earn a 70% interest through expenditure of $88.5 million, and 12 km west of the Company's Mukai Project.

 

· Located on the west side of the Kabompo Dome in the prospective Domes Region of northwest Zambia which is host to multiple producing copper and nickel mines, including First Quantum Mineral's Sentinel mining complex which adjoins the Company's Mukai Project.

 

· Initial soil sampling programme designed to collect 460 samples on a 300x300m offset grid with in-field sample preparation and real-time reporting of portable X-ray Fluorescence ("pXRF") analytical results to allow for immediate infill sampling of areas of anomalous soil geochemistry.

 

· Immediate focus on copper-in-soil anomalies identified during review of historical exploration data.

 

· Work expected to commence this week with reporting of provisional pXRF results upon completion and QA/QC review.

 

Patrick Cheetham, Executive Chairman of Tertiary Minerals plc said:

"Following on from the grant of environmental approvals one month ago, we are delighted to announce the initiation of exploration at the Mupala Copper Project. We were fortunate to acquire the Mupala licence against stiff competition and we hope that the soil sampling programme at Mupala will confirm the historically identified copper-in-soil anomalies and form a solid base for future exploration activities in that licence.

"Momentum is now building for our current exploration season. Drilling is in progress at Konkola West with KoBold Metals and Mwashia Resources and we announced last week the consolidation of three additional projects into our new subsidiary, Copernicus Minerals, where drilling plans are also being advanced."

Further Information:

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

 

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

The Mupala Exploration Licence 32139-HQ-LEL (the "Licence") covers 41.2 km2 and is located in the Kabompo Dome region in the Northwest Province of Zambia. It is held 100% by the Company's 96% owned subsidiary, Tertiary Minerals (Zambia) Limited.

The Licence is underlain by the prospective Lower Roan Subgroup and lies directly adjacent to the Anglo American/Arc Minerals joint venture area where Anglo American has the right to earn a 70% interest through expenditure of $88.5 million. Approximately 12 km to the east lies the Company's Mukai Copper Project and First Quantum Minerals' Trident Project which is host to the Enterprise Copper and Sentinel Nickel Mines.

Existing geological maps indicate that the licence covers some 16 km strike length of the main copper mineralised horizon in Zambia (Lower Roan Subgroup). A review of historical exploration data provides an overview of the exploration history, albeit incomplete. Mwinilunga Mines Ltd conducted soil and stream sediment sampling in the area in the 1960s and identified a number of copper-in-soil anomalies which provide an initial focus for the Company's exploration of the Licence area.

The Company received approval of the Project Environmental Project Brief ("EPB") from the Zambia Environmental Management Agency in May 2024 and has completed all other exploration prerequisites including pegging of the Licence area and receipt of a Letter of Consent from the Sailunga Chiefdom.

Geological and exploration contractor, Geo-Junction Consulting Limited, has now been engaged and soil sampling will begin this week. The initial soil sampling programme is designed to collect 460 samples on a 300x300m offset grid with in-field sample preparation and real-time reporting of pXRF instrument analytical results to allow for immediate infill grid sampling of areas of anomalous soil geochemistry.

 

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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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