Tertiary Minerals PLC Paymaster Polymetallic Project Update (4478F)
15 Luglio 2019 - 8:00AM
UK Regulatory
TIDMTYM
RNS Number : 4478F
Tertiary Minerals PLC
15 July 2019
15 July 2019
Tertiary Minerals plc ("Tertiary" or "the Company")
Paymaster Polymetallic Project Update
Further to the Company's announcements of 21 February 2019 and
30 May 2019, Tertiary Minerals plc is pleased to advise that
initial follow-up field reconnaissance of soil anomalies at its
recently acquired Paymaster Polymetallic Project in Nevada has
identified two zones of zinc-silver mineralisation for follow-up
exploration and drilling.
Highlights
-- Valley Prospect
Ø New thick skarn zone observed in the field: Approximately 350m
long and up to 8m thick
Ø Rock sample taken from historic shaft spoil assayed 7.5% zinc,
4.3% lead and 180g/t silver
-- East Slope Prospect
Ø 650m long zinc soil anomaly (100-250 ppm zinc) surrounding
previously sampled outcrop of zinc-silver cobalt bearing skarn
mineralisation, including 175m long 250-500 ppm zinc soil
anomaly
Ø Previous rock sample assays up to 20.9% zinc, 0.11% cobalt and
198 ppm silver within the prospect
Ø Infill soil sampling and trenching proposed to better define
drill target
-- Additional soil anomalies require further evaluation
Richard Clemmey, Managing Director of the Company, commented
today:
"We are pleased to be reporting these two new targets as a
result of follow up of our soil sampling results at the Paymaster
Project and to be closing in on drill targets at such an early
stage in the life of the project. This follows on from our recent
acquisition of the Pyramid Gold Project, also in Nevada, where
drill targets for gold are already defined.
These results demonstrate how value can be added at low cost as
we build up a new portfolio of base and precious metal projects in
the western USA."
Enquiries
Tertiary Minerals plc
Richard Clemmey, Managing Director
Patrick Cheetham, Chairman +44 (0) 1625 838 679
SP Angel Corporate Finance LLP
Nominated Adviser & Joint Broker
Lindsay Mair/Caroline Rowe +44 (0) 203 470 0470
SVS Securities plc
Joint Broker
Elliot Hance +44 (0) 203 700 0093
Detailed Information
The initial results of the Company's soil sampling programme
were announced on 30 May 2019 and highlighted a number of soil zinc
and silver anomalies.
A preliminary field reconnaissance has now been carried out to
evaluate the soil anomalies and a number of mineralised localities
were sampled as a result.
This recent work has focussed attention on two separate areas
within the 2.3km mineralised trend previously reported.
Valley Prospect
During the recent field reconnaissance, a large and potentially
thick zone of skarn mineralisation was located on the edge of a
broad valley in the central part of the Project area. This zone has
an arcuate form with an outcrop length of approximately 350m and an
outcrop width up to 8m thick. A single historic prospector's mine
shaft (estimated minimum 200 ft deep) has been excavated within
this skarn exposing gossanous skarn in its walls to the full depth
visible from surface. A sample taken from the material excavated
assayed 7.5% zinc, 4.3% lead and 180g/t silver.
The skarn zone extends to the floor of the valley where it is
iron rich (26% iron) and exhibits boxwork structures typical of
leached sulphide mineralisation. A sample of this iron rich
material assayed 1.5% lead, 0.24% zinc and 22g/t silver.
Further mapping and sampling is now planned to define drill
sites for testing this newly identified zone of mineralisation.
East Slope Prospect
The East Slope Prospect is defined by a 650m long soil zinc
anomaly. Outcrop in this area is limited but the anomaly does
include a small exposure of skarn mineralisation where a previous
sample returned a grade of 20.9% zinc, 0.11% cobalt and 198 ppm
silver.
Infill soil sampling and trenching is now proposed to better
define this drill target.
Other soil anomalies at Paymaster remain to be explained and
require additional mapping and sampling.
Note: 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.
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
Notes to Editors
Tertiary Minerals plc (ticker symbol 'TYM') is an AIM-traded
mineral exploration company building and developing a
multi-commodity project portfolio - Industrial minerals, base and
precious metals.
CAUTIONARY NOTICE
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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END
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