TIDMTYM
RNS Number : 9222L
Tertiary Minerals PLC
18 January 2021
18 January 2021
Tertiary Minerals plc ("Tertiary" or "the Company")
NEW COPPER EXPLORATION PROJECT
BRUNTON PASS, NEVADA USA
Tertiary Minerals plc is pleased to announce that it has staked
claims over a new copper exploration project at Brunton Pass in
Nevada, USA.
Highlights
Brunton Pass Copper Project, Nevada (100% owned by Tertiary)
Ø 24 mining claims staked with copper mineralisation spread over
a 1km x 0.6km target area.
Ø Samples collected by United States Bureau of Mines (USBM)
contain up to 6.91% copper including a chip sample grading 1.36%
copper over 3.66m (12ft).
Ø Follow up samples taken by the Company confirm widespread
copper mineralisation and include an 8ft channel sample grading
4.66% copper over 2.44m (8ft) .
Ø Copper mineralised samples also anomalous in uranium - large
scintillometer anomaly reported.
Ø Exploration underway, drone magnetic survey commissioned to
commence within the next two weeks.
Commenting today, Executive Chairman Patrick Cheetham said:
"I am delighted to be announcing this new project acquisition as
we continue to build our mineral project portfolio in Nevada. We
have been able to confirm historic reports of widespread copper
mineralisation with significant grades at surface.
This adds a second copper project alongside our precious metals
projects and complements our Lucky Copper Project where our planned
drill programme is now permitted and where we expect to be drilling
as soon as a rig becomes available. Copper is increasingly a focus
for the Company. It is a key metal in electric vehicles, prices are
strong, and the market outlook is favourable."
We look forward to reporting exploration results from this
exciting prospect in what is shaping up to be a busy and a pivotal
year for the Company."
DETAILED INFORMATON FOLLOWS 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 as defined in Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
Brunton Pass Copper Project
The Company has staked 24 new mining claims on the east side of
the Paradise Range, just north of State Highway 91, 190 km
southwest of Reno, Nevada.
Mercury was discovered in the claim area in 1945 and a small
amount of mercury was produced in 1948. The area south of the
mercury workings was drilled by Phillips Uranium Corp. in 1978 to
test a reportedly large scintillometer anomaly but no further
records can be found.
In 1991 the area was mapped and sampled by the US Bureau of
Mines (USBM) during a study of the mines, prospects, and mineral
occurrences of that part of the Paradise Range, administered as
Toiyabe National Forest, although the prospect is itself outside of
the National Forest.
The prospect area is underlain by Triassic-age limestone,
sandstone, and siltstone which has been intruded by diorite. The
sedimentary rocks are strongly altered locally and appear to be in
fault contact with Tertiary-age volcanic rock (rhyolite) on all
sides. Prospector small-scale workings are spread throughout a 1km
x 0.6km area within the sedimentary enclave. Most of the workings
explore shear zones and contact metasomatic (skarn) zones
containing garnet, epidote, calcite, and copper minerals. Zones of
silicification are abundant.
The USBM collected a total of 14 samples from across the
prospect area and 8 of these contained values above 1% copper and
up to 6.91% copper including a chip sample over 12ft (3.66m)
grading 1.36% copper .
In addition to the copper and mercury zones, the area contains
anomalous gallium, bismuth, tellurium, selenium, thallium, and
arsenic, all elements considered to be precious metal "pathfinder"
elements.
Prior to staking its claims the Company carried out a
reconnaissance of the southern half of the prospect to confirm the
USBM records of widespread copper mineralisation.
Of 10 grab and chip samples taken by the Company 5 samples
contained over 1% copper including an 8ft (2.44m) channel sample
grading 4.66% copper.
Other samples were significantly anomalous including an
outcropping jasperoid containing 0.31% copper.
The Company's copper-rich samples are also anomalous in uranium
(up to 106ppm) and so the report of a large scintillometer further
enhances the prospectivity of the project.
The Company has commissioned a detailed drone magnetic survey to
assist in target delineation. This will be carried out within the
next two weeks and further exploration will follow.
A thematic plan illustrating the information contained in this
news release will be available on the Brunton Pass Project specific
page of the Company's website.
Notes:
1. 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.
2. 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 with projects in Nevada and
Sweden.
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