Last checked at 7 Apr 2020 08:47
7 April 2020
Tertiary Minerals plc ("Tertiary" or "the Company")
Pyramid Gold Project Update
Following on from the announcement dated 18 February 2020, Tertiary Minerals plc is pleased to provide a further update on its plans to drill test the Pyramid Gold Project in Nevada, USA.
Pyramid Project Drilling Highlights
· Drill planning completed and drilling contract signed
· Drill rig expected to be mobilised in the week commencing 20 April 2020, following completion of a third-party drilling programme by the drilling contractor
· Nevada based consulting geologist with a background in the evaluation of epithermal gold deposits has been contracted to manage the drilling and to log and sample the drill core
· Initial drilling will seek to confirm priority epithermal vein drill target:
Ø Drill hole PYR 9 - intersected visible gold and assayed 1.52m grading 17.8 g/t Au from 94.5m down hole
Ø PYR 9 ended in 1.52m grading 2.6 g/t Au at 115.8m depth
· All planned activities can be carried out in compliance with the State of Nevada 'stay at home' policies to address the COVID-19 pandemic
Commenting today, Managing Director, Richard Clemmey said:
"We are pleased to have secured an experienced geologist and drilling contractor for the initial drilling at Pyramid and look forward to providing updates in due course when the drilling commences."
COVID-19 in Nevada
On 1 April 2020 the State of Nevada implemented a stay at home policy other than for essential businesses, reporting to work as an essential worker, and to participate in outdoor activities so long as aggressive social distancing is practised. As of the date of this announcement, Mining (including drilling operations) falls into the essential business category and strict protocols have been implemented by the State for all mining/drilling activities to manage the COVID-19 risk.
The health and safety of the Company's employees and contractors is of paramount importance and strict procedures will be implemented for the drilling in line with the State of Nevada protocols. The Company continues to closely monitor the developments regarding COVID-19 and any changes which may affect the drilling will be announced accordingly.
For more information please contact:
Tertiary Minerals plc: | ||
Richard Clemmey, Managing Director | +44 (0) 1625 838 679 | |
Patrick Cheetham, Chairman | ||
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 | ||
Notes:
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
Notes to Editors
Tertiary Minerals plc (ticker symbol 'TYM') is an AIM-traded mineral exploration and development company building a multi-commodity project portfolio.
CAUTIONARY NOTICE
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.