TIDMTYM
RNS Number : 7756N
Tertiary Minerals PLC
03 February 2021
3 February 2021
Tertiary Minerals plc ("Tertiary" or "the Company")
Mt Tobin Project -Exploration Update
Further to its announcement of 11 January 2021, Tertiary
Minerals plc is pleased to advise that it has now completed
evaluation of its results from soil sampling and magnetic surveying
at its Mt Tobin Silver Project in Nevada, USA.
Mt Tobin Silver Prospect
Ø Associated soil and magnetic anomalies defined over
substantial strike length.
Ø Silver-in-soil anomalies defined over strike length of 1,200m
and widths of 75-200m.
Ø Maximum value of 15.7ppm silver (0.46 ounces per ton) in soils
against anomaly thresholds of 0.5 and 1ppm silver.
Ø Inversion modelling of magnetic data defines sub-horizontal
pipe structure that closely follows the silver-in-soil anomaly
along its full length.
Ø Anomalies are open along strike.
Ø Field mapping and evaluation of anomalies now planned for
spring/summer this year.
Maps and images showing the location and distribution of the
soil and magnetic anomalies will be available on the Company's
website at:
https://www.tertiaryminerals.com/mt-tobin-silver-gold-prospect-nevada-usa
Commenting today, Executive Chairman Patrick Cheetham said:
"It is pleasing to report positive results from our continuing
exploration at Mt Tobin. The strong association of magnetic and
silver-in-soil anomalies containing up to 15.7ppm silver makes for
an exciting exploration target. Follow up field evaluation of these
anomalies is now planned."
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
The Mt Tobin Project is located 73km south of Winnemucca in
north central Nevada and was acquired to follow up historical
reports of silver mineralisation in chert and silicified
sediments.
In summer 2020, Tertiary carried out an initial reconnaissance
prospecting visit that confirmed the earlier reports when rock
samples taken from prospector hand-dug pits returned silver values
up to 107 grammes/tonne (3.12 ounces/ton) with several other
samples returning between 15 and 91g/t silver.
This was followed up in autumn 2020 with a UAV (drone) high
resolution photogrammetric and magnetic surveys and a soil sampling
programme.
The magnetic survey comprised 23.6-line km of flying on
traverses 50m apart on a linear grid approximately 1,500m
north-south and 750m in width. A total of 304 soil samples were
collected on a 40m by 100m grid over the same area.
The soil analytical results have now been received and an
initial interpretation of results has been carried out.
Soil samples were sieved and the minus 0.18mm fraction was
submitted for geochemical analysis(1) . for silver, gold and
various pathfinder elements. Samples were found to contain up to
15.7 parts per million (ppm) silver (0.46 ounces/ton) and anomaly
thresholds were defined at 0.5ppm and 1ppm (being above the 80th
and 90th percentile respectively).
At a 0.5ppm silver contour level the silver-in-soil anomaly
extends over a strike length of 1,200m and contains areas over the
1ppm contour up to 500m in length and with widths between 40 and
150m. Gold values were anomalous up to 128 parts per billion (ppb),
but silver shows a higher correlation with geochemical values of
mercury, zinc, antimony and lead.
The magnetic data was processed by consulting geologist, Brian
Williams, by inversion using Geosoft Magnetic Vector Inversion
software to create a magnetic susceptibility model aligned with the
size and orientation of magnetic bodies.
A low level but distinctive magnetic anomaly was defined with a
sub-horizontal pipe shape extending north from a larger magnetic
body at the south end of the survey grid. Mostly the magnetic
anomaly does not outcrop but lies between 20m and 100m below
surface. The magnetic anomaly shows a strong association parallel
and immediately west of the silver-in-soil anomaly. In places it is
coincident with a weathered diabase body at surface, but it is not
dyke-like in form. The magnetic body may be caused by pyrrhotite
associated with the silver mineralisation as the silver bearing
rock samples referred to above were veined with stockworks of
iron-oxides formed from oxidation of sulphide minerals.
The associated magnetic and silver-in-soil anomalies present
attractive exploration targets and further work is now planned to
include additional mapping and field evaluation of the
anomalies.
This work will likely be carried out in late spring or summer
this year due to the high elevation of the project area.
Notes:
1. Samples were submitted to ALS (Reno, Nevada) and prepared
using method code PREP-41 where soil was screened and the
-180-micron fraction was reserved for analysis. Analysis was
performed using method code AuME-TL43 - Trace detection limit
method for Au plus multi-element package by aqua regia digestion
and ICP-MS finish. ALS internal QAQC samples were inserted and
returned satisfactory values.
2. The information in this release has been compiled and
reviewed 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.
3. 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.
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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