REG - Tertiary Minerals - Upcoming Phase 3 Drill Programme at Target A1

Tertiary MineralsAnnouncement

31/10/2025 07:00

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RNS Number : 5948F  Tertiary Minerals PLC  31 October 2025

 

31 October 2025

Tertiary Minerals plc

 ("Tertiary" or the "Company")

 

 Upcoming Phase 3 Drill Programme at Target A1, Mushima North Project, Zambia

 

Tertiary Minerals plc (AIM: TYM) is pleased to announce details of the
upcoming Phase 3 drill programme at Target A1, 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, and 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 Planned drilling programme of approximately 1,000m of Reverse Circulation
drilling.

Ø Drilling to test:

o  further lateral extensions of the known mineralisation, particularly
around the high-grade silver and copper mineralisation in the north.

o  the continuity of mineralisation between wider-spaced drill lines, by
obtaining additional mineralisation intersections.

o  the depth extension of the known mineralisation.

Ø Phase 2 drilling of this target in mid-2025 returned drill intersections
including (downhole widths, true widths unknown):

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

§ And: 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.

o  73m at 32 g/t Ag, 0.16% Cu and 0.24% Zn (49 g/t Ag equivalent or 0.64%
copper equivalent) from 11m downhole (hole 25TMNAC-025).

§ Including: 21m at 66 g/t Ag, 0.21% Cu and 0.30% Zn from 50m downhole.

Ø Drilling is expected to start imminently. All drill-related permitting is
in place and the drilling contractor is preparing to mobilise to site. Access
road and drill pad preparation is already underway.

 

 

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

"We are delighted that we will be drilling again at Target A1 this season.
Drilling again before the rains, rather than waiting until the start of the
next dry season in March-April next year, shows our resolve to aggressively
advance this Project and add shareholder value.

"Target A1 now has a surface footprint of approximately 450m by 400m, with
mineralisation intersected to a vertical depth of up to 84m. However, the
mineralisation remains open to the north/northwest, south/southeast and at
depth. This drill programme will test the potential continuation of
mineralisation along strike and at depth, as well as providing additional
infill drilling. This work is aimed at bringing us closer to our goal of
producing a maiden mineral resource in the next 12 months.

"We eagerly await the start of the drilling programme and I look forward to
providing updates in the coming weeks."

 

Drilling Programme

A programme of approximately 1,000m of Reverse Circulation ("RC") drilling is
planned as a series of east-west drill lines spaced approximately 100m apart
(north-south). Holes will be collared approximately 50 to 100m apart along the
east-west lines and drilled to a nominal depth of approximately 100m. Deeper
holes (approximately 150m) will also be undertaken in key areas to further
understand the potential continuation of mineralisation at depth. The drill
programme at Target A1 is designed to test:

·    further lateral extensions of the known mineralisation, particularly
around the high-grade silver and copper mineralisation previously intersected
in drillhole 25TMNAC-038.

·    the continuity of mineralisation between wider-spaced drill lines, by
obtaining additional mineralisation intersections.

·    the depth extension of the known mineralisation up to 150m
vertically.

The work will also give insights into the mineralisation style and grade
continuity and provide data to support the production of a maiden Mineral
Resource Estimate, if future drilling results warrant such an approach.

The drill programme is being conducted by Ox Drilling which also completed the
Phase 1 and Phase 2 drill programmes. The drill programme is expected to
commence in early November, will take approximately 2 weeks to complete and is
planned to be finished prior to the on-set of the heavy rains in the area
which will inhibit further on-the-ground exploration until March-April 2026.
Samples will be initially analysed on site using a portable X-Ray Fluorescence
("pXRF") analyser for copper and zinc. Selected mineralised intervals will
then be submitted for external assaying at a certified laboratory for a suite
of elements, including silver, copper, zinc, bismuth, antimony and gallium.

 

Target A1

Target A1 is a large copper-in-soil anomaly (3.1km by 1.7km) with copper
values up to 302ppm per pXRF associated with a 1.7km by 0.5km zinc- and
coincidental 1.3km by 0.3km silver-in-soil anomaly.

Phase 1 drilling (1,486m) in 2024 targeted the copper-in-soil anomaly and
returned broad but generally low-grade copper mineralisation as reported in
the news release dated 28 October 2024 (e.g. 57m at 0.20% Cu from 14m
downhole, hole 24TMNAC-004). Higher grade copper mineralisation was also
intersected within these broader zones (e.g. 6m at 0.58% Cu within 35m at
0.21% Cu, from 22m downhole, hole 24TMNAC-024). Drilling over the silver- and
zinc-in-soil anomaly (drill line: 8506925N) to the east identified wide and
thick, near surface silver mineralisation associated with low-grade copper
and/or zinc mineralisation.

The Phase 2 drill programme (1,116m) targeted the silver and zinc-in soil
anomaly. The silver mineralisation has now been confirmed to extend
approximately 450m northwest-southeast and by 400m northeast-southwest, to a
depth from near surface to 84m and remains open both to the north/northwest,
south/southeast and at depth.

The mineralisation at Target A1 is associated with a massive, haematitic and
carbonaceous silty-sandy conglomerate. Where visible, copper mineralisation is
in the form of the secondary copper minerals malachite and chrysocolla. The
mineralogical speciation of silver and zinc is yet to be determined. Elevated
bismuth (up to 991 g/t), antimony (up to 0.21%) and gallium (up to 40 g/t) are
also associated with the mineralisation in places.

Drilling results (previously reported) from the Phase 1 and 2 drilling
programmes are presented in Table 1 below.

Table 1. Selected silver intersections from Phase 1 and 2 drilling at Target
A1. Equivalent grades ("Eq") are for illustrative purposes only.

Note to Table 1:

·    Reported intersections (downhole, true widths unknown) are based on a
cut-off grade of 10 g/t Ag. Intervals start and end with ≥10 g/t Ag and up
to 3m consecutive internal dilution has been allowed. All grades are averages
weighted by sample length.

·    Silver values are rounded to whole numbers.

·    EOH means End of Hole.

·    CuEq (%) and AgEq (g/t) are the copper and silver equivalent grades,
respectively, and were calculated assuming commodity prices of Cu: US$4.5 lb,
Ag: US$40 oz, Zn: US$1.2 lb and 100% recovery. No information on beneficiation
recoveries is available at this stage. The metal equivalent values are for
illustrative purposes only.

·    Gramme metres for silver are the silver values (g/t) multiplied by
the intervals (m).

 

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% Cu 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.

 

 

Figure 1. Geological map of the Mushima North Project showing the locations of
the priority targets within the licence.

 

 

 

 

Figure 2. Location map of Target A1 showing soil sample results for copper and
zinc, and the collar locations for the previous and upcoming planned drilling
programme.

 

 

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