REG - Tertiary Minerals - Exploration Update – Lubuila Copper Project

Tertiary MineralsAnnouncement

20/04/2023 10:00

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RNS Number : 9047W  Tertiary Minerals PLC  20 April 2023

20 April 2023

 

 

Tertiary Minerals plc

("Tertiary" or "the Company")

Exploration Update - Lubuila Copper Project

 

Tertiary Minerals plc (AIM: TYM), the London listed explorer focussed on
energy transition and precious metals in Zambia and Nevada, USA, is pleased to
announce the start of its 2023 Zambian exploration season and provide an
update on its Lubuila Copper Project where a soil sampling programme is
scheduled to commence next week.

 

Highlights - Lubuila Project

·    Soil sampling contractor selected and tribal/community engagement
being conducted this week.

 

·    Approximately 300 soil samples to be collected on a 400m by 400m
offset grid and analysed in-field using a portable XRF analyser(1) ("pXRF").

 

·    In-field, same day, analysis will make the programme dynamic and
allow immediate follow-up soil sample collection and analysis over zones of
anomalous soil geochemistry.

 

·    Cost effective first pass exploration programme designed around
historical data acquisition and interpretation conducted in recent months.

 

·    Targeting untested areas of interpreted prospective Lower Roan Group
lithologies which host the majority of copper deposits in the Zambian
Copperbelt.

 

Commenting today, Executive Director Patrick Cheetham said:

"I am delighted to announce that our first exploration programme of the 2023
Zambian exploration season is now commencing. The seasonal rains have all but
stopped and our contractors are ready to put into place the exploration plans
formulated during the rainy season.

Our interpretation of aeromagnetic imagery at Lubuila suggests that large
areas of prospective Lower Roan lithologies remain untested by previous
explorers and these areas are the focus of our first round of exploration."

 

 

 

 

 

 

 

 

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/Harry Davies-Ball               +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 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

Exploration Licence 27065-HQ-LEL covers 334km² and is located 90km west of
Luanshya in the Central African Copperbelt. The licence is partially underlain
by prospective Lower Roan Group lithologies and lies approximately 70km
southeast of the currently producing Chambishi Southeast copper-cobalt mine.

During the first quarter of 2023 Tertiary engaged the Geological Survey of
Zambia and exploration contractors involved in historical exploration at the
Lubuila Project to acquire pertinent exploration data and build the
exploration record. The majority of documented historical exploration was
conducted by Mukuba Resources which, between 2008‑2011, carried out a series
of airborne geophysical surveys, including magnetics and radiometrics, and
extensive soil sampling traverses based on regional geological mapping.
Mukuba's exploration programmes were conducted over a wider area than
Tertiary's Lubuila licence and follow-up exploration programmes mainly
targeted areas outside the Lubuila licence.

An interpretation of Mukuba's aeromagnetic data suggests that large areas of
prospective Lower Roan Group lithologies within the Lubuila licence area were
not sampled in previous exploration campaigns and these areas are now targeted
by Tertiary for further exploration.

Soil Sampling Programme

This week our local partner, Mwashia Resources, has commenced community and
tribal engagement to inform all stakeholders of the upcoming work programmes.
The engagement is essential to receive tribal consent but also to allow the
local community the opportunity to participate in casual employment as part of
the work programme and provide input on access and site-specific conditions.

Geo-Junction Consulting Limited has been selected as field contractor to
collect  approximately 300 soil samples on a 400m by 400m offset grid.
Samples will be dry-sieved to minus 180 microns and split into subsamples for
on-site pXRF analysis and laboratory-based check analysis (ICP-MS). Field
analysis using pXRF and daily reporting of results to head office allows for
real-time modification of the work programme and follow-up sampling in
anomalous areas.

The results of the pXRF and laboratory check analysis will be reported upon
completion of the work programme.

 

Notes

1.   A pXRF or portable X-ray fluorescence analyser is a hand-held
instrument which provides multi‑element analytical results outside of a
laboratory setting. XRF analysis operates by bombarding the sample with X-rays
which induces the emission of secondary X-rays exhibiting the energy
characteristics of the constituent elements within the sample. pXRF analysers
provide real-time analysis and allows immediate follow-up sampling therefore
increasing productivity and reducing cost associated with additional
mobilisation. pXRF analysers cannot be used as a direct replacement for
traditional laboratory-based analysis as the sample is not subjected to
rigorous sample preparation and is therefore considered indicative.

 

2.   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.

 

3.   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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