REG - Tertiary Minerals - Operational Update - Zambia

Tertiary MineralsAnnouncement

20/12/2024 07:00

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RNS Number : 8860Q  Tertiary Minerals PLC  20 December 2024

 

20 December 2024

 

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

 

Operational Update - Zambia

 

The Company wishes to provide the following update, ahead of the Christmas
break, on its ongoing drilling programmes in Zambia.

At the Konkola West Copper Project, where KoBold Metals ("KoBold") has the
right to earn an equity interest, drilling continued up to 16 December 2024
and is now on hold for the Christmas and New Year holiday. The drill hole has
not yet reached the target horizon and KoBold has advised that drilling will
resume on or around 7 January 2025 and will continue during the Zambian rainy
season.

At the Mukai Copper Project, where First Quantum Minerals Limited ("First
Quantum") has the right to earn an equity interest and is funding exploration,
First Quantum was able to complete three diamond drill holes for a total of
552m of drilling prior to the onset of the rainy season.

Drill core samples are being submitted for geochemical analysis and the data
collected in this short programme will be fed back into the geological model
for the project and inform the exploration programme for 2025.

First Quantum has advised that drilling is provisionally planned to resume in
the second quarter of 2025, after the end of the rainy season, subject to a
review of analytical results and the updating of the geological model.

At the Mushima North Copper Project, a magnetic survey has been completed over
the A1 target where positive drill results were reported on 28 October 2024.
Interpretation of the magnetic results is providing additional geological
context for the reported results and check samples are now in South Africa for
geochemical analysis with results anticipated in January 2025. Detailed
logging of drill samples is nearing completion and additional drilling is
planned to take place in 2025.

An update on the Company's Brunton Pass Copper-Gold Project in Nevada, USA,
was made earlier this week, on 16 December 2024.

 

Commenting today, Executive Chairman, Patrick Cheetham, said:

"It has been gratifying to report on drilling programmes at four different
projects in this last quarter of 2025 and to be working with two significant
industry players who have already committed substantial funds to our Mukai and
Konkola West Projects.

"We are looking forward to progressing these projects and continuing to work
with our joint venture partners in 2025."

 

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

 

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.

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