16 April
2024
Tertiary Minerals plc
("Tertiary" or "the Company")
DRILLING - KONKOLA WEST
COPPER PROJECT, ZAMBIA
Further to its announcement of 9
April 2024 regarding the receipt of various consents for its
earn-in agreement with a subsidiary of KoBold Metals Company
("KoBold") and local partner Mwashia Resources Ltd, the Company is
pleased to announce that drilling is now underway at the
Konkola West Copper Project in
Zambia.
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
|
|
Background Information
The Konkola West Project comprises
Exploration Licence 27067-HQ-LEL which covers 71.9 sq. km. and is
located 18km northwest of Chingola in the Central African
Copperbelt.
The Konkola West Project is
targeting projected deep down-dip and along-strike extensions of
the contiguous Lubambe-Mingomba-Konkola copper deposits to the east
of the Licence and which extend north into the Musoshi mining
complex in the Democratic Republic of the Congo. Together these
deposits comprise a 15 kilometres long continuous zone of
mineralisation that contained a pre-mining endowment of over 775
million tonnes grading 2-3% copper. Konkola West, is located
approximately 2,000 metres southwest of the Mingomba deposit, which
lies between the Konkola and Lubambe mines, and has historic
resource estimates with around 9 million tonnes of contained
copper.
The Company's other interests in
Zambia include the Jacks Copper Project, where the Company
completed soil sampling and drilling in 2022 and where further
drilling is now warranted, and also the Mukai and Mushima North
project areas which are subject to a data sharing and technical
cooperation with First Quantum Minerals. Recent soil sampling at
Mukai and Mushima North has recently defined a number of large
copper-in-soil anomalies.
The Company also owns a portfolio of
base metal and precious metal projects in Nevada, USA and a
fluorspar deposit in Sweden.
Mwashia Resources is a private
Zambian company and the Company's partner in the Konkola West,
Jacks, Mukai and Mushima North Projects (see announcement dated 26
February 2024).
KoBold Metals is a US-based,
privately held, mineral exploration company that couples
geoscience, data science, machine learning, and artificial
intelligence to search for the critical minerals needed for the
clean energy transition and to accelerate growth in electric
vehicles. KoBold is backed by technology investors including
Breakthrough Energy Ventures (initiated by Bill Gates) and Silicon
Valley venture capital firm Andreessen Horowitz, as well as
institutional investors such as T. Rowe Price and Canadian Pension
Plan Investment Board.
For further information on KoBold
and its activities in Zambia see
https://koboldmetals.com/