REG - Tertiary Minerals - Drilling - Konkola West Copper Project, Zambia

Tertiary MineralsAnnouncement

16/04/2024 14:00

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RNS Number : 8425K  Tertiary Minerals PLC  16 April 2024

16 April 2024

 

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

 

DRILLING - KONKOLA WEST COPPER PROJECT, ZAMBIA

 

Further to its announcement of 9 April 2024 regarding the receipt of various
consents for its earn-in agreement with a subsidiary of KoBold Metals Company
("KoBold") and local partner Mwashia Resources Ltd, the Company is pleased to
announce that drilling is now underway at the Konkola West Copper Project in
Zambia.

 

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

 

 

Background Information

The Konkola West Project comprises Exploration Licence 27067-HQ-LEL which
covers 71.9 sq. km. and is located 18km northwest of Chingola in the Central
African Copperbelt.

The Konkola West Project is targeting projected deep down-dip and along-strike
extensions of the contiguous Lubambe-Mingomba-Konkola copper deposits to the
east of the Licence and which extend north into the Musoshi mining complex in
the Democratic Republic of the Congo. Together these deposits comprise a 15
kilometres long continuous zone of mineralisation that contained a pre-mining
endowment of over 775 million tonnes grading 2-3% copper. Konkola West, is
located approximately 2,000 metres southwest of the Mingomba deposit, which
lies between the Konkola and Lubambe mines, and has historic resource
estimates with around 9 million tonnes of contained copper.

The Company's other interests in Zambia include the Jacks Copper Project,
where the Company completed soil sampling and drilling in 2022 and where
further drilling is now warranted, and also the Mukai and Mushima North
project areas which are subject to a data sharing and technical cooperation
with First Quantum Minerals. Recent soil sampling at Mukai and Mushima North
has recently defined a number of large copper-in-soil anomalies.

The Company also owns a portfolio of base metal and precious metal projects in
Nevada, USA and a fluorspar deposit in Sweden.

Mwashia Resources is a private Zambian company and the Company's partner in
the Konkola West, Jacks, Mukai and Mushima North Projects (see announcement
dated 26 February 2024).

KoBold Metals is a US-based, privately held, mineral exploration company that
couples geoscience, data science, machine learning, and artificial
intelligence to search for the critical minerals needed for the clean energy
transition and to accelerate growth in electric vehicles. KoBold is backed by
technology investors including Breakthrough Energy Ventures (initiated by Bill
Gates) and Silicon Valley venture capital firm Andreessen Horowitz, as well as
institutional investors such as T. Rowe Price and Canadian Pension Plan
Investment Board.

For further information on KoBold and its activities in Zambia see

https://koboldmetals.com/ (https://koboldmetals.com/)

 

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