Tertiary Minerals PLC Kaaresselkä Gold Royalty (5076H)
03 Dicembre 2020 - 4:28PM
UK Regulatory
TIDMTYM
RNS Number : 5076H
Tertiary Minerals PLC
03 December 2020
3 December 2020
Tertiary Minerals plc ("Tertiary" or "the Company")
Kaaresselkä Gold Royalty
Tertiary Minerals plc is pleased to note the announcement today
by TSX listed Aurion Resources Ltd ("Aurion") of encouraging
results from Aurion's Maiden Drill Program at the Kaaresselkä Gold
project where Tertiary holds a number of royalty interests.
Drill intercepts:
-- Include:
Ø 1.52 g/t Au over 2.85 m (KS20001 from 306.50 m down hole)
and
Ø 1.85 g/t Au over 5.40 m (KS20002 from 199.00 m down hole);
and
-- extend the gold mineralized zone to 200 m depth and to 600 m strike length at Vanha target.
Details of the drill programme and Tertiary's royalty interests
can be found in Tertiary's announcements of 3 September 2020 and 6
October 2020 and in the detailed information below.
For more information please contact:
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 (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
Detailed Information
Aurion completed a maiden 12-hole, 2,401.3 m diamond core
drilling program testing four targets (Vanha, Lampi South, Lampi
North, Tienvarsi) within the Kaaresselkä prospect area (2.0 km by
1.0 km). The program was designed to test the potential strike and
depth extensions of previously identified mineralized zones, which
were largely limited to 50-150 m from surface, as well as targets
identified from re-interpretation of historic exploration data.
The locations of drill holes can be seen in the following link
and a list of results is provided in the following table.
https://aurionresources.com/site/assets/files/1373/nr20-16figure2.pdf
Kaaresselkä Drillhole Highlight Summary Table
-----------------------------------------------------------------------------------
Width
Hole ID Azimuth Dip From (m) To (m) (m) Au (g/t) Target Area Comments
------- ----- -------- ------ ----- -------- -----------
KS20001 179.8 -50.0 40.70 41.35 0.65 0.93 Vanha 1.08 % Cu
AND 85.85 88.95 3.10 0.26 1.20 % Cu
AND 296.40 297.55 1.15 1.71
AND 306.50 309.35 2.85 1.52
incl 307.70 309.35 1.65 2.36
KS20002 359.9 -49.4 199.00 204.50 5.50 1.85 Vanha
incl 199.00 199.95 0.95 8.91
KS20003 180.4 -45.2 45.75 49.75 4.00 1.27 Vanha
KS20004 335.1 -55.2 101.95 102.90 0.95 1.28 Lampi S
KS20005 24.7 -50.4 NSV Lampi N
KS20006 30.3 -45.0 NSV Tienvarsi
KS20007 30.4 -54.7 81.95 82.80 0.85 3.22 Tienvarsi 0.8 % Cu
KS20008 224.7 -45.2 NSV Lampi N
KS20009 220.7 -44.8 NSV Lampi N
KS20010 224.4 -44.7 NSV Tienvarsi
KS20011 220.9 -44.6 NSV Lampi N
KS20012 14.2 -48.0 NSV Lampi S
-----------
Intercepts reported at 1 g/t gold or 1 % Cu cut-off. All
assay values are uncut.
All widths are core widths. True width is not known at this time.
NSV = No Significant Value
Vanha Target
KS20001 targeted the depth extensions of historic gold
intercepts (4.88 g/t Au over 2.0 m, 1.2 g/t Au over 1.0 m and 1.21
g/t Au over 4.0 m) at shallow depths (max 50 m). The drill hole
intersected a wide (200-300 m down hole length) zone of strongly
altered (silicification and carbonatization) and sheared mafic
volcanic rocks and graphitic sediments returning gold intercepts of
1.71 g/t Au over 1.15 m from 296.40 m down hole, 1.52 g/t Au over
2.85 m, and several intervals with elevated (>0.1 g/t) gold
values. The mineralized zone is interpreted to be subvertical and
continue to at least 230 m vertical depth. The drill hole also
intersected previously unknown parallel zones of alteration and
deformation that returned 0.93 g/t Au and 1.08% Cu over 0.65 m from
40.70 m down hole and 0.26 g/t Au and 1.20 % Cu over 3.10 m from
85.85 m down hole.
KS20002 was collared along a profile 60 m to W from KS20001 and
targeted the depth extension of gold mineralized zones identified
in historic exploration. The drill hole intersected 1.85 g/t Au
over 5.50 m from 199.00 m down hole including 8.91 g/t Au over 0.95
m from 199.00 m down hole within a wider zone of strongly deformed
and altered mafic volcanic rocks and graphitic schists.
KS20003 was collared 300 m to E from KS20001 to test the strike
extension of the EW trending structural trend. The drill hole
returned an intercept of 1.27 g/t Au over 4.00 m within a wider
zone of strongly deformed and altered mafic volcanic rocks and
graphitic schists. The gold mineralized trend is open and untested
towards east.
The three drill holes extended the gold mineralized zones to 200
m depth and 600 m strike length along the east-west trending
structural corridor coinciding with the Sirkka Shear Zone. The
mineralization at Vanha is open to depth and towards east.
Lampi South, Lampi North, and Tienvarsi
Drill holes KS20004-KS20012 tested several gold indications in
the western part of the Kaaresselkä prospect area. Several drill
holes intersected zones of altered and deformed mafic volcanic and
sedimentary rock units with varying levels of gold ranging from nil
to 3 g/t Au over narrow widths.
Quality Assurance and Quality Control
All samples were delivered to ALS preparation facility in
Sodankylä, Finland where sample preparation work was completed. All
analytical work was completed at ALS facility in Loughrea, Ireland
and Rosia Montana, Romania. ALS is an internationally accredited
lab and are ISO compliant (ISO 9001:2008, ISO/IEC 17025:2005). All
samples were analysed for gold using the Au-AA26 procedure (50 g
fire assay with AAS finish: Lower Detection Limit ("LDL") 0.01 g/t
gold; Upper Detection Limit ("UDL") - 100 g/t gold). Multi-element
analysis (ME-ICP61, four-acid digestion, 35 element ICP-AES) was
completed on all samples. Certified standards and blanks were
inserted every 20 samples. ALS has its own QA/QC protocol using
standards, blanks and duplicates.
Note :
The information in this release has been taken from a news
release made by Aurion Resources Ltd on 3 December 2020 and has
been compiled by Mr. Patrick Cheetham (MIMMM, MAusIMM) 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.
Note to Editors:
Tertiary Minerals plc (ticker symbol 'TYM') is an AIM-traded
mineral exploration and development company building a
multi-commodity project portfolio.
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