REG - Tertiary Minerals - Drilling Commences at Target A1 - Mushima North

Tertiary MineralsAnnouncement

21/07/2025 07:00

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RNS Number : 8293R  Tertiary Minerals PLC  21 July 2025

 

 

21 July 2025

Tertiary Minerals plc

 ("Tertiary" or the "Company")

 

 Drilling commences at Target A1, Mushima North Project, Zambia

 

Tertiary Minerals plc (AIM: TYM) is pleased to announce commencement of
drilling at Target A1, a polymetallic (silver-copper-zinc) prospect. Target A1
is located on the Mushima North Project ("Mushima North" or the "Project")
within the prospective Iron-Oxide-Copper-Gold region of Zambia.

 

Highlights:

 

·   Planned drilling programme of up to 1,500m Air Core/Reverse Circulation
drilling.

·   Aim to test along strike and downdip continuations of mineralisation at
Target A1, where drilling of this target in late 2024 returned drill
intersections including (downhole widths, true widths unknown):

·   57m at 25 g/t Ag, 0.20% Cu, 0.15% Zn from 14m downhole (24TMNAC-004).

§ Including: 26m at 36 g/t Ag, 0.20% Cu, 0.20% Zn from 45m downhole.

·   65m at 23 g/t Ag, 0.14% Cu, 0.27% Zn from 9m downhole (24TMNAC-005).

§ Including: 5m at 73 g/t Ag, 0.16% Cu, 0.31% Zn from 69m downhole.

·   Target A1 is located only 28km east of the historic Kalengwa
copper-silver mine which is under redevelopment.

 

 

Richard Belcher, Managing Director of Tertiary Minerals plc, commented:

"Previous initial drilling at Target A1 identified near surface polymetallic
(silver-copper-zinc) mineralisation over a width of 350m and downhole
intervals of up to 67m, but with many of the holes ending in mineralisation.
This drill programme has been designed to follow-up on these highly
encouraging drilling results and will not only test the surface footprint of
the silver- and zinc-in-soil anomaly over a strike extent of some 1.6km and up
to 300m wide, but also the downdip potential to a depth of up to 150m.

"I look forward to updating shareholders on the drilling progress and results
in due course."

 

 

Drilling Programme

A programme of up to 1,500m combined Air Core ("AC") and Reverse Circulation
("RC") drilling is planned as a series of east-west drill lines spaced
approximately 250m apart (north-south). Holes will be collared approximately
100m apart along the east-west lines and drilled to a nominal depth of
approximately 75m. Deeper holes (using RC) will also be undertaken in key
areas to further understand the potential continuation of mineralisation at
depth. The drill programme at Target A1 is designed to:

·    Test the silver- and part of the broader zinc-in-soil anomaly over
approximately 1.6km of strike and up to 0.3 km width.

·    Test the depth extension of mineralisation in key areas to a depth of
up to 150m.

·    Gain insights into the mineralisation styles and grade continuity.

The drill programme is being conducted by Ox Drilling which also completed the
initial drill programme undertaken last year. The drill programme started on
18 July and will take approximately 2-3 weeks to complete. Samples will be
initially analysed on site using a portable X-Ray Fluorescence ("pXRF")
analyser for copper and zinc. Selected mineralised intervals will also be
submitted for external assaying at a certified laboratory for a suite of
elements, including silver, copper, zinc, bismuth, antimony and gallium.

 

Target A1

Target A1 is a large (3.1km by 1.7km) copper-in-soil anomaly with copper
values up to 350ppm (via pXRF analyser) associated with a 1.7km by 0.5km zinc-
and coincidental 1.3km by 0.3km silver-in-soil anomaly. Initial drilling over
the silver- and zinc-in-soil anomaly (drill line 1) identified wide and thick
silver mineralisation associated with low-grade copper and/or zinc
mineralisation. Elevated bismuth (up to 991 g/t), antimony (up to 824 g/t) and
gallium (up to 40 g/t) are also associated with the mineralisation.

Drilling results from the initial drilling programme undertaken in late 2024
include:

·    65m at 23 g/t Ag, 0.14% Cu, 0.27% Zn from 9m downhole (24TMNAC-005).

o  Including: 5m at 73 g/t Ag, 0.16% Cu, 0.31% Zn from 69m downhole.

·    66m at 26 g/t Ag, 0.13% Cu, 0.26% Zn from 13m downhole
(24TMNAC-006P).

o  Including: 20m at 40 g/t Ag, 0.21% Cu, 0.40% Zn from 23m downhole.

·    57m at 25 g/t Ag, 0.2% Cu, 0.16% Zn from 14m downhole (24TMNAC-004).

o  Including: 26m at 36 g/t Ag, 0.20% Cu, 0.20% Zn from 45m downhole.

 

 

Mushima North Project

The Mushima North Copper Project (Licence 27068-HQ-LEL) is held through Group
company Copernicus Minerals Limited, which is 90% owned by Tertiary Minerals
(Zambia) Limited and 10% by local partner, Mwashia Resources Limited.

The Project lies 20km to the east of the Kalengwa copper mine in northwest
Zambia, one of the highest-grade copper deposits ever to be mined in Zambia.
In the 1970s, high-grade ore, average approximately 11% Cu, was trucked for
direct smelting at other mines in the Copperbelt. The Kalengwa mine is
currently under redevelopment and is expected to produce 15,000 tonnes of
copper annually.

The Project is under a technical cooperation agreement with First Quantum
Minerals Limited ("FQM"), which allows Tertiary to benefit from FQM's historic
exploration data in the area, as well as FQM's geological team's extensive
experience and understanding of the area's geology. The agreement is
non-binding to any further agreement and there are no commercial restrictions
for Tertiary, nor does FQM have a right of first refusal over the project.
Further details can be found in the news release of 15 September 2022.

At the end of the summer 2024, Tertiary completed an initial 25 AC drill
programme (1,274m) to test parts of geochemical (copper-in-soil) anomalies at
Targets A1 and C1. This limited and shallow drilling has indicated wide
downhole intervals of largely coincidental copper, zinc and silver
mineralisation at Target A1.

Numerous other geochemical and/or geophysical targets (A2, B1, B2, B3, C2) are
yet to be drill tested.

 

Further Information:

 Tertiary Minerals plc:
 Richard Belcher, Managing Director  +44 (0) 1625 838 679
 SP Angel Corporate Finance LLP

 Nominated Adviser and Broker
 Richard Morrison/Jen Clarke         +44 (0) 203 470 0470
 Peterhouse Capital Limited

 Joint Broker
 Lucy Williams/Duncan Vasey          +44 (0) 207 469 0930

 

Market Abuse Regulation

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(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.

 

Cautionary Note Regarding Forward-Looking Statements

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.

 

Competent Persons Statement

The technical information in this release has been compiled and reviewed by
Dr. Richard Belcher (CGeol, EurGeol) who is a qualified person for the
purposes of the AIM Note for Mining and Oil & Gas Companies. Dr. Belcher
is a chartered fellow of the Geological Society of London and holds the
European Geologist title with the European Federation of Geologists.

 

About Tertiary Minerals plc

Tertiary Minerals plc (AIM: TYM) is an AIM-traded mineral exploration and
development company whose strategic focus is on energy transition metals. The
Company's projects are all located in stable and democratic, geologically
prospective, mining-friendly jurisdictions. Tertiary's current principal
activities are the discovery and development of copper and precious metal
mineral resources in Zambia and Nevada, USA.

 

 

Figure 1. Geological map of the Mushima North Project showing the locations of
the priority targets within the licence.

 

 

 

 

 

 

 

Figure 2. Location map of Target A1 showing soil sample results for copper and
zinc, and the collar locations for the previous (late 2024) and upcoming
drilling programme.

 

 

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