REG - Tertiary Minerals - Exploration Update - Jacks Copper Project, Zambia

Tertiary MineralsAnnouncement

27/09/2022 13:15

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RNS Number : 8714A  Tertiary Minerals PLC  27 September 2022

 27 September 2022

 

 

Tertiary Minerals plc

("Tertiary" or "the Company")

 

Exploration Update - Jacks Copper Project, Zambia

 

Tertiary Minerals plc (LON: TYM), the AIM traded mineral exploration and
development company is pleased to announce the start of a detailed soil
sampling programme at the Jacks Copper Project ("Jacks") in Zambia, where
Tertiary has now earned a 90% joint venture interest from local Company
Mwashia Resources Ltd.

 

Highlights

 

·    Detailed soil sampling planned for four separate areas to include:

 

Ø A 5.3 sq.km. area surrounding the copper mineralisation recently
intersected in drilling at the Jacks Copper Prospect (announced 29 June 2022).

 

Ø Infill sampling in key areas of a 15km long soil anomaly defined by Cyprus

Amax.

 

Ø Infill sampling of Copper:Scandium ("Cu:Sc") soil anomalies in two areas
defined in wide-spaced soil sampling by First Quantum Minerals ("FQM").

 

·    Tribal & Stakeholder engagement successfully completed.

 

·    Up to approx. 1,600 samples to be collected on a 200m x 40m grid with
initial field analysis of samples using portable XRF analyser ("pXRF")
delivering results in real time.

 

 

 

Commenting today, Executive Chairman Patrick Cheetham said:

"The announcement of this programme highlights the growing momentum of our
exploration programmes in Zambia following the successful drilling programme
at Jacks this summer and the recent announcement of our collaborative
agreement with First Quantum Minerals.

The soil sampling programme at Jacks is targeting extensions to the known
copper mineralisation as well as areas defined during wide-spaced soil
sampling by FQM as having high Cu:Sc ratios which can indicate the presence of
copper sulphide minerals in potentially economic concentrations."

 

 

 

 

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
 Caroline Rowe
 Peterhouse Capital Limited - Joint Broker
 Lucy Williams        + 44 (0) 207 469 0930
 Duncan Vasey

 

Note to Editors

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

 

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

Background  Information

The Jacks Prospect lies within Exploration Licence 27069-HQ-LEL which covers
141.4 km(2) and is located 85 km south of Luanshya in Zambia.

The geological setting of the exploration licence area is a synclinal
embayment of Lower Roan Group sedimentary rocks which unconformably overlies
basement rocks of the Muva Formation. The Lower Roan Group is highly
prospective and hosts the majority of significant copper deposits in the
Zambian portion of the Central African Copperbelt.

In May 2022, Tertiary completed four diamond drill holes as an initial test of
the Jacks copper prospect. All holes intersected copper mineralisation
including 6.0m grading 1.8% copper from 105.0m in hole 22JKDD03. Historic
drilling results included 24.0m grading 1.3% copper in drillhole KJD10.

Copper mineralisation has now been intersected in drilling at the Jacks
Prospect over a strike length of 350m and remains open along strike and at
depth.

For more information on Tertiary's Phase 1 Drill Programme see the news
release dated 29 June 2022.

Soil Sampling Programme

The Company has contracted GeoQuest Limited to execute the detailed soil
sampling programme. As planned, approximately 1,600 samples will be collected
at 40m intervals on north-south lines spaced 200m apart. Samples will be dry
sieved to minus 180 microns and analysed using a pXRF analyser in the field. A
subset of samples will be sent to an external laboratory for check analysis.

During the recent drilling programme pXRF analysis was used on soils to assist
drill targeting at the Jacks prospect. The technique proved invaluable in
pinpointing the sub-soil location of mineralisation and check analysis via
conventional wet chemistry gave a good correlation with pXRF results.

Four separate areas totalling 11.5 sq.km. have been selected for detailed soil
sampling.

Area A targets the southern limb of the syncline where wide-spaced soil
sampling by Cyprus Amax in the 1990s located a number of copper soil anomalies
that were not adequately tested.

Areas B & C have been selected to test areas where wide-spaced sampling by
FQM defined areas containing anomalous concentrations of copper as well as
high Cu:Sc ratios. Scandium is considered immobile in hydrothermal ore forming
systems and so the Cu:Sc ratio is seen as a useful tool to discriminate
between copper anomalies of interest caused by hydrothermal concentration of
copper in sulphide minerals from those caused by rocks with a naturally high
background contents of copper.

Area D covers an approx. 4 km strike length centred on the area of recent
drilling and aims to find extensions to the mineralisation intersected by this
drilling.

A series of tribal and community engagement meetings have been held to inform
stakeholders and tribal leaders of the upcoming activities in the licence
area.

It is anticipated that the programme will take approximately 3 weeks to
complete. A map to accompany the news release and illustrate the planned
programme can be found at:

https://www.tertiaryminerals.com/filemanager/Jacks_Project/Jacks_Project_Soil_Sampling.pdf
(https://www.tertiaryminerals.com/filemanager/Jacks_Project/Jacks_Project_Soil_Sampling.pdf)

 

Notes:

1.    The information in this release has been reviewed by Mr. Patrick
Cheetham (MIMMM, M.Aus.IMM), Executive Chairman of Tertiary Minerals plc, 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.

.

 

 

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