REG - Tertiary Minerals - Brunton Pass Copper-Gold Project - Drill Start

Tertiary MineralsAnnouncement

15/11/2024 08:30

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241115:nRSO4216Ma&default-theme=true

RNS Number : 4216M  Tertiary Minerals PLC  15 November 2024

 

 15 November 2024

 

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

 

Brunton Pass Copper-Gold Project - Commencement of Drilling

 

The Company is pleased to advise that drilling has commenced at its 100% owned
Brunton Pass Copper-Gold Project in Nevada, USA.

Highlights:

·    Four reverse circulation percussion drill holes planned, each to an
average depth of 350-400m.

 

·    Two holes will test for skarn and porphyry copper mineralisation
beneath area of copper anomalous soils and trenches.

 

·    Two holes will test coincident geophysical and geochemical anomaly
for epithermal gold-silver mineralisation.

 

·    Drilling is expected to be completed in early December 2024 with
analytical results anticipated early in the New Year.

 

An illustration showing the planned hole locations and the features of
exploration interest accompanies the detailed information that follows.

 

Patrick Cheetham, Executive Chairman of Tertiary Minerals plc said:

"With drilling already in progress at our Mukai and Konkola West projects in
Zambia, and now at Brunton Pass in Nevada; and with drilling recently
completed at Mushima North in Zambia, we are seeing a level of activity
unparalleled in the Company's history and on a par with many much larger
companies. I look forward to keeping shareholders updated as the results
become available."

 

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 Brunton Pass Project (the "Project") is located in central Nevada 25km
northeast of the high-sulphidation epithermal Paradise Peak gold deposit that
produced over 1.6 million ounces of gold and over 44 million ounces of silver
and at least 457 tons of mercury. The Project was acquired in 2021 after
sampling of prospector small-scale surface workings revealed high copper
values.

Mineralisation at Brunton Pass is closely associated with hornfels, skarn and
high-sulphidation-style epithermal alteration of a mixed sequence of Triassic
aged carbonate and clastic sediments that form a 1.8km x 0.75km, uplifted
"window" (horst block) in fault contact within younger Tertiary-age volcanic
rocks. Evidence for an underlying body intrusive is found in surface outcrops
of granite/granodiorite and at least two phases of diorite intrusion.

Copper Target

Soil sampling has delineated several copper-in-soil anomalies with individual
grades of up to 953ppm copper. The largest of these anomalies in the southwest
quadrant of the property has dimensions of 340m x 310m and they are mainly
coincident with areas where rock grab samples contain percent-level copper
values in small prospecting pits.

In 2002, two trenches were completed for a combined length of 386m to further
evaluate the main anomaly and wide intervals of low-grade copper observed in
trenches T7 and T8:

·      27.4m grading 1,010ppm copper (0.1% Cu) in T7, open to the east.

·      77.7m grading 473ppm copper in T8, also open to the east.

These wide low-grade copper intervals are a possible halo to more significant
mineralisation and suggest the possible presence of a deeper porphyry copper
target.

Two reverse circulation drill holes of 350-400m each are planned to test this
target.

 

Gold-Silver Target

During soil sampling two large mercury and arsenic in soil anomalies were also
defined in the eastern half of the property in a north trending zone with
values up to 52 ppm mercury with the largest of these extending over an area
approximately 500m x 500m. These anomalies are centred on a north trending
zone of structural dislocation with a strike length of at least 1.2km.

Two trenches (T1 and T11) tested the north and south ends of this
mercury-arsenic soil anomaly and intersected substantial widths of
hydrothermally altered rock with approximately 1,000 times background content
of the gold indicator elements, arsenic and mercury:

·      9.1m grading 1,930ppm arsenic and 102ppm mercury in T1.

·      32m grading 1,622ppm arsenic and 110ppm mercury T11.

The argillic alteration evident in T1 and T11 is similar to that seen at the
Paradise Peak Gold Mine (smectite+quartz+/-opal).

Trench T2, located between T1 and T11, intersected 2.65g/t gold over 2.7m.

In early 2024, an IP Survey and Resistivity geophysical survey identified a
coherent electrical chargeability anomaly, typical of sulphide mineralisation
prospective for copper and/or gold, extending over 700m through all IP survey
lines.

The chargeability anomaly is spatially related to the previously identified
copper-mercury-arsenic soil anomalies, the surface alteration zone in trench
T11 and the gold-bearing zone in trench T2.

Resistivity variations are conformable with surface geology and help map out
subsurface geology.

The chargeability anomaly and associated geochemical anomalies are a high
priority drill target for epithermal gold and/or porphyry copper
mineralisation and two reverse circulation drill holes are planned to test
this target.

 

Notes:

1. The information in this release has been compiled and reviewed by Mr.
Patrick Cheetham (MIMMM, MAusIMM) 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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DRLVELBFZFLLFBV