TIDMTYM
RNS Number : 5865F
Tertiary Minerals PLC
08 November 2022
8 November 2022
Tertiary Minerals plc
("Tertiary" or "the Company")
Exploration Update - Jacks Copper Project, Zambia
Further to its announcement of 27 September 2022, Tertiary
Minerals plc (LON: TYM), the AIM traded mineral exploration and
development company, is pleased to announce provisional results
from its detailed soil sampling programme at the Jacks Copper
Project ("Jacks") in Zambia and the definition of multiple copper
soil anomalies in different areas of the Exploration Licence.
Highlights
-- Soil sampling programme completed on schedule and on budget.
-- 1,807 samples collected on a 200m x 40m spacing over 4 separate grids.
-- pXRF elemental analysis of samples in the field gave real
time data, defined soil anomalies and allowed for immediate follow
up sampling.
-- Follow up sampling was carried out on three of the four grids at 100m x 40m spacing.
-- Multiple soil anomalies were defined with a peak value of
535ppm copper and with sufficient ground control to allow for drill
testing.
-- Results compare favourably with soil anomalies in the
vicinity of various ore zones at current and past producing mines
on the Copperbelt.
-- Results from pXRF analysis are regarded as provisional and
check samples are now being sent to South African laboratory for
traditional wet chemical analysis.
Commenting today, Executive Chairman Patrick Cheetham said:
"The soil sampling programme went smoothly, thanks to our
contractor GeoQuest Ltd and our local partner Mwashia Resources. We
are delighted with the results obtained to date, which, although
provisional, have defined multiple soil anomalies in favourable
Lower Roan stratigraphy that are of the same order of magnitude as
those reported to occur in the vicinity of ore-zones at past and
currently operating mines elsewhere in the Copperbelt."
"Jacks is one of five projects in Zambia where we currently have
an interest and we expect to issue an update shortly regarding our
wider Zambia portfolio."
For more information, please contact
Tertiary Minerals plc:
Patrick Cheetham, Executive
Chairman +44 (0) 1625 838 679
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SP Angel Corporate Finance LLP - Nominated Adviser and Broker
Richard Morrison +44 (0) 203 470 0470
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Caroline Rowe
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Peterhouse Capital Limited - Joint Broker
Lucy Williams + 44 (0) 207 469 0930
--------------------------------
Duncan Vasey
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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 Copper Prospect lies within Exploration Licence
27069-HQ-LEL which covers 141.4 km(2) and is located 85 km south of
Luanshya in Zambia. Tertiary has earned a 90% interest in the
licence from local company Mwashia Resources Limited ("Mwashia")
and recently signed a joint venture and shareholder agreement with
Mwashia, details of which are given in the Company's announcement
of 4 November 2022.
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 soil sampling programme for which provisional results are
now being reported was designed to follow up unresolved
copper-in-soil anomalies defined during wide spaced soil sampling
by previous operators including Cyprus-Amax and First Quantum
Minerals, as well as to guide follow-up drilling on the Jacks main
prospect.
The Company's soil sampling programme was contracted to GeoQuest
Limited and a total of 1,807 B horizon soil samples were initially
collected over four separate areas covering 11.5 sq.km. Samples
were collected at 40m intervals on lines spaced 200m apart and
preliminary elemental analysis of the samples was carried out in
the field using a portable x-ray fluorescence (pXRF) analyser.
Sampling and pXRF analytical protocols are described in
Note 1 below.
Field pXRF results were received on a real-time basis, allowing
daily definition of soil anomalies which were then sampled in more
detail on infill 100m spaced lines. A total of 196 additional soil
samples were collected by infill sampling.
Results
Field pXRF analysis is considered to be a less accurate and less
precise method of analysis compared to traditional wet-chemical
laboratory analysis and so the following results should be
considered as provisional. A range of samples are now being
prepared for laboratory check analysis.
As a guide to the significance of soil sampling results, the
Company notes(2) that B horizon soil anomalies for freely drained
soils in the vicinity of various ore zones at current and past
producing mines on the Copperbelt have thresholds in the range 50
to 150ppm copper, averaging 80ppm copper and peak values in the
range 100-450ppm copper and averaging 210ppm copper. In addition,
published data(3) for the giant Sentinel copper deposit (>1
billion tonnes grading 0.51% copper, located close the Company's
Mukai Project in northwest Zambia) shows that the median copper
value for soil samples collected over the sub-cropping expression
of the orebody was 120ppm and only one soil sample exceeded 500ppm
copper.
The Area A soil grid at Jacks is located in prospective Lower
Roan sediments on the southern limb of the syncline southwest of
the Jacks drill area. A total of 271 samples were collected with a
peak copper-in-soil value of 132ppm. No infill sampling was carried
out in Area A during this programme but it may be targeted for
infill sampling in future.
Areas B & C were selected to test areas where wide-spaced
sampling by FQM defined areas containing anomalous concentrations
of copper as well as samples containing high copper: scandium
ratios which can indicate the presence of copper sulphide
minerals.
The Area B soil grid was located in the northwest part of the
licence in Upper Roan Group and younger rocks. A total of 290
samples were collected of which 89 were infill samples. A 600m long
x 600m wide copper--in--soil anomaly was defined with a peak of
325ppm copper and 197ppm nickel in different samples. The trace
element signature of the anomaly is atypical for Copperbelt style
mineralisation and further evaluation of this is required to
determine its significance.
The Area C grid, in prospective Lower Roan Group sediments, was
targeted to follow up a Cu-Sc anomaly defined by FQM . A total of
464 soil samples were collected of which 89 were infill samples. A
north-northeast striking copper anomaly approx.1,100m long and 400m
wide was identified with a peak value of 257ppm copper.
Area D covers an approx. 4 km strike length centred on the area
of the Company's recently reported drilling at the original Jack's
Prospect and aimed to find extensions to the mineralisation
intersected by this drilling. A total of 782 soil samples were
collected in Area D with 66 being infill soil samples. A peak value
of 525ppm copper was observed in the area of the drilling within an
600m x 400m anomaly. Further to the southwest a second anomaly was
defined with dimensions 600m x 500m and a peak value of 173ppm
copper.
Further information on the anomalies and the company's
priorities for further drill testing on the Jacks Licence will be
given once the results of laboratory analysis are available.
A plan showing the location for the soil grids and provisional
soil anomalies is available on the Company website at :
https://www.tertiaryminerals.com/filemanager/Jacks_Project/Soil_Sampling_Copper_Anomalies.jpg
Notes:
1. Soil samples were collected from the B horizon at an
approximate depth of 25-30cm at each sample site. Samples were dry
sieved to minus 180 micron with approx. 100 grammes retained and
placed in a plastic sample bag for analysis. Samples were then
analysed through the sample bag using a Delta Classis pXRF machine
with DCC6000 tube. The pXRF was calibrated at the start of each day
using a Certified reference Material tablet and again
intermittently throughout the sampling runs. Repeat pXRF analysis
was performed on a subset of samples to check the repeatability of
the pXRF analysis. Additionally, two CRMs were placed in plastic
sample bags and analysed throughout the repeat analysis to test the
performance of the pXRF using the same conditions. The Company is
currently undertaking further interpretation of the geochemical
results to select samples for conventional wet chemical
analysis.
2. Mwamba, J., 2018. Exploration Potential for Copperbelt -
Style Mineralisation in NW Province, Zambia; Soil Geochemistry as a
targeting tool. M.Sc. Dissertation Rhodes University (Data
presented for 20 deposits, 2 deposits excluded as high
outliers).
3. Halley, S.W. et.al; 2016. Using Multielement Geochemistry to
Map Multiple Components of a Mineral System: Case Study from a
Sediment-Hosted Cu-Ni Camp, NW Province, Zambia, SEG Newsletter
January 2016.
4. 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.
5. 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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