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Pin to quick picksTertiary Minerals Regulatory News (TYM)

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Project Focus – Mushima North Project, Zambia

1 Jun 2023 07:00

RNS Number : 2268B
Tertiary Minerals PLC
01 June 2023
 

 1 June 2023

 

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

 

PROJECT FOCUS - MUSHIMA NORTH PROJECT, ZAMBIA

Further to the Company's announcement of 28 April 2023, advising of favourable copper analytical results from sampling of core from historic drill hole RKN800, the Company is now releasing a separate "Project Focus" presentation for its Mushima North Project in Zambia.

This presentation provides additional context for the above announcement and can be found on the Company's website at: https://www.tertiaryminerals.com/presentations

Mushima North is one of five projects in Zambia where Tertiary is exploring for copper, and one of two projects which benefit from the technical cooperation and data sharing agreement with leading copper producer First Quantum Minerals ("FQM"). The Project lies to the east of the high grade Kalengwa mine (past production 4 million tons grading 5.2% Cu and 40 g/t Ag and pre-mining reserve of 600,000 tons grading 16% copper) which was discovered by drill testing a coincident copper soil anomaly and gravity anomaly.

FQM has provided its extensive database for Mushima North which includes airborne magnetic, electromagnetic and radiometric geophysical data as well as 500m spaced reconnaissance soil sample analytical results. Additional historical data for the area was made available by JAW Consulting LLC ("JAW") of Golden, Colorado which was commissioned by the Company to compile historical data and provide a detailed interpretation and targeting report.

The JAW targeting report has drawn on historical exploration from the 1970s onwards by Roan Consolidated Mines, African Minerals, Zamanglo Prospecting Ltd and BHP Billiton. The latter was exploring for iron-oxide-copper-gold ("IOCG") deposits, a class of mineral deposit that includes some of the largest in the world, including Olympic Dam in South Australia.

The Mushima North Project Focus presentation highlights several targets that have been identified for further exploration. The two highest priority targets 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.

The "Project Focus" now released for Mushima North is the third in a series of presentations on the Company's key exploration projects and follows the release of the Konkola West Project Focus (12 January 2023) and Mukai Project Focus (5 April 2023), also available on the Company website.

 

 

 

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

Harry Davies-Ball

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.

 

Background Information

Tertiary Minerals plc is exploring in Zambia through its local subsidiary Tertiary Minerals (Zambia) Limited ("TMZ") which is 96% owned by Tertiary Minerals plc. TMZ now holds 90% of the Jacks Copper Project with the remaining 10% held by local company and licence holder Mwashia Resources Ltd ("Mwashia"). TMZ holds an option to purchase Mwashia's 10% interest in the Jacks exploration licence for US$3.5 million at any time.

TMZ also holds options to earn up to a 90% interest in four other licences held by Mwashia, namely the Mukai, Mushima North, Lubuila and Konkola West exploration licences. Further details of Tertiary's agreements with Mwashia are given in the Company's news releases of 2 August 2021 and 18 November 2021.

The Mukai and Mushima North licences are covered by a Data Sharing and Technical Cooperation Agreement with First Quantum Minerals Limited. Further details of the Agreement can be found in in the Company's news release of 15 September 2022.

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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MSCSDAFIFEDSELI
Date   Source Headline
17th Nov 20107:00 amRNSDrilling Update
28th Sep 20107:00 amRNSDrilling Commences
14th Sep 20107:00 amRNSFluorspar Project Update
20th Jul 201012:54 pmRNSIssue of Equity/Director's Dealing
8th Jul 20107:00 amRNS2nd European Fluorspar Project
6th Jul 20107:00 amRNSPositive Scoping Study, Storuman Fluorspar Project
24th May 20101:23 pmRNSHalf Yearly Report
12th Mar 20107:00 amRNSProject Updates
26th Feb 20101:52 pmRNSTotal Voting Rights
1st Feb 20102:26 pmRNSDirector/PDMR Shareholding
29th Jan 20104:17 pmRNSResult of AGM
8th Dec 20097:00 amRNSGrant of Warrants
7th Dec 20093:13 pmRNSFinal Results
17th Nov 20097:00 amRNSStoruman Tonnage/Grade Estimate
11th Sep 20097:00 amRNSUpdate re Vahajoki Project
6th Aug 20097:00 amRNSStoruman Scoping Study Update
31st Jul 20097:00 amRNSTotal Voting Rights
24th Jul 20094:27 pmRNSDirectors' Share Issue
2nd Jul 200912:42 pmRNSPlacing of 12,000,000 New Ordinary Shares
21st May 200912:21 pmRNSHalf Yearly Report
9th Mar 20097:00 amRNSProject Update
2nd Mar 200911:47 amRNSDirector/PDMR Shareholding
27th Feb 20097:00 amRNSTotal Voting Rights
13th Feb 20092:26 pmRNSPlacing
2nd Feb 20092:08 pmRNSDirector/PDMR Shareholding
2nd Feb 20099:59 amRNSResult of AGM
24th Dec 20087:00 amRNSReport and Accounts
10th Dec 20087:00 amRNSGrant of Warrants
9th Dec 20087:00 amRNSTerm of Exploration Licences Extended
8th Dec 20082:00 pmRNSFinal Results
5th Nov 20087:00 amRNSStoruman Fluorite Drilling Assays
8th Oct 20087:00 amRNSKolari Iron Testwork Results
5th Sep 20087:00 amRNSStoruman Scoping Study Commis
2nd Sep 20087:00 amRNSStoruman Drilling Results
13th Aug 20087:00 amRNSTrading on PLUS Markets
8th Jul 20087:00 amRNSProject Update
21st May 20082:12 pmRNSInterim Results
13th May 20086:00 amRNSStoruman Drill Programme - Pr
14th Apr 20087:00 amRNSCommencing of drilling
22nd Feb 20089:17 amRNSResult of AGM
21st Feb 20087:00 amRNSAGM Statement
29th Jan 200811:51 amRNSNotice of AGM
24th Jan 20087:00 amRNSMajor New Project Acquisition
14th Jan 20087:00 amRNSFinal Results
3rd Jan 20087:00 amRNSKolari Update
30th Nov 200711:58 amRNSTotal Voting Rights
29th Nov 20077:00 amRNSIron-ore drilling update
1st Nov 200712:11 pmRNSGrant of warrants
31st Oct 20073:39 pmRNSAdditional Listing
18th Oct 200712:00 pmRNSKolari Drilling Update

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