REG - Tertiary Minerals - Intent to Produce Target for Cu-Ag, Mushima North

Tertiary MineralsAnnouncement

16/12/2025 07:00

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RNS Number : 6646L  Tertiary Minerals PLC  16 December 2025

 

16 December 2025

Tertiary Minerals plc

 ("Tertiary" or the "Company")

 

 Intent to Produce an Exploration Target for Copper-Silver Target A1, Mushima
North Project, Zambia

 

Tertiary Minerals plc (AIM: TYM) is pleased to announce that work has
commenced to produce a JORC-compliant Exploration Target for Target A1 at its
silver-copper-zinc prospect within the Mushima North Project ("Mushima North"
or the "Project").

Mushima North is located in the prospective Iron-Oxide-Copper-Gold region of
Zambia. Target A1 is a polymetallic, silver-copper-zinc prospect located 28km
to the east of the historic Kalengwa copper-silver mine which is currently
under redevelopment.

 

Highlights:

 

Ø Work to produce an Exploration Target is underway and will provide a range
of tonnes and grades for Target A1 and convey the exploration potential.

Ø Exploration Target to be finalised in Q1 2026 once laboratory analysis
results for silver are returned from recent (Phase 3) drilling, which included
the highest-grade copper intersection to date.

Ø Additional mineralogical study results due in the coming weeks.

 

 

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

"We are delighted that Target A1 continues to advance forward and have decided
it is time to produce a JORC-compliant Exploration Target for this prospect.
This will provide us with a range of tonnes and grades and an understanding of
its exploration potential. This will also provide valuable guidance on the
planning of future drilling during the next field season as we work towards
our goal of producing a maiden mineral resource estimate by Q4 2026."

 

Target A1

Target A1 was originally defined by a large copper-in-soil anomaly (3.1km by
1.7km) with copper values up to 302ppm per portable X-Ray Fluorescence
("pXRF") analyser associated with a 1.7km by 0.5km zinc- and coincidental
1.3km by 0.3km silver-in-soil anomaly.

Drilling to date (3,083m) has confirmed copper, silver and zinc mineralisation
over an area approximately 450m northwest-southeast and by 400m
northeast-southwest and to a depth from near surface to 84m. Mineralisation
remains open both to the north/northwest, south/southeast and at depth.

 

Phase 2 drilling has intersected higher grade copper mineralisation in the
north of the target area. Including (downhole, not true widths):

·    58m at 49 g/t Ag, 0.26% Cu and 0.16% Zn (72 g/t Ag equivalent or
0.94% copper equivalent) from 8m downhole (hole 25TMNAC-038). Including:

o  20m at 86 g/t Ag, 0.44% Cu and 0.24% Zn from 46m downhole.

o  9m at 124 g/t Ag, 0.73% Cu and 0.25% Zn (185 g/t Ag equivalent or 2.40%
copper equivalent) from 57m downhole. The hole ended in mineralisation.

The mineralisation at Target A1 is associated with a massive, haematitic and
carbonaceous silty-sandy conglomerate. Copper mineralisation observed to date
is predominantly in the form of secondary copper minerals malachite,
chrysocolla and cuprite. Native copper, chalcocite and chalcopyrite have also
been observed. Silver mineralisation is so far only observed as native silver
and zinc mineralisation is observed as sphalerite. Elevated bismuth (up to 991
g/t), and the critical metals antimony (up to 0.21%) and gallium (up to 40
g/t) are also associated with the mineralisation in places.

Phase 3 drilling was put on hold due to earlier than expected, heavy rains.
However, additional drilling undertaken in the north of the target area
intersected the best copper results so far (analysis undertaken using pXRF
analyser in the field). Mineralisation was intersected again from near
surface, including:

·    95m at 0.41% Cu from 10m downhole (hole 25TMNRC-043). Including:

o  47m at 0.58% Cu from 58m downhole, and

o  25m at 0.75% Cu from 80m downhole, and

o  8m at 1.13% Cu from 89m downhole.

The independent laboratory results for Phase 3 drilling, inclusive of the
silver analyses, are expected back in early Q1 2026.

Further follow-up studies on the initial mineralogical findings is currently
underway and is expected back in the coming weeks and will form the basis for
future metallurgical test work.

 

JORC Exploration Target

 

An Exploration Target is an estimate of the exploration potential of a
mineralogical deposit in a defined geological setting which is presented as a
range of tonnes and a range of grades, but where there is insufficient
exploration undertaken to report a Mineral Resource Estimate. The Exploration
Target will be prepared by Bara Consulting, a geological and mining consulting
with extensive experience in Africa, and will be reported in accordance with
the 2012 edition of the Joint Ore Reserves Committee ("JORC") Code. It is
expected to be completed in Q1 2026 and will form the basis for planned
follow-up drilling in Q2 2026 and metallurgical studies at Target A1.

 

Mushima North Project

The Mushima North Copper Project (Licence 27068-HQ-LEL) is held through Group
company Copernicus Minerals Limited ("Copernicus"), 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 the
country. In the 1970s, high-grade ore, average approximately 11% copper, 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.

Numerous other geochemical and/or geophysical targets (A2, B1, B2, B3, C2) are
yet to be drill tested. Many of these are located within 12km of Target A1.

 

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
 AlbR 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.

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