TIDMTYM
RNS Number : 3406O
Tertiary Minerals PLC
29 May 2020
29 May 2020
Tertiary Minerals plc ("Tertiary" or "the Company")
Project Acquisitions & Total Voting Rights
Tertiary Minerals plc wishes to advise that it has staked claims
over three additional mineral projects in Nevada, USA.
Highlights:
-- Peg Leg Copper-Silver-Lead-Zinc Project
Ø 4 claims, 11km north of Tonopah in the San Antone Mineral
Field, south-central Nevada
Ø Main target - exposed skarn copper-silver mineralisation in
limestone adjacent to granite contact.
Ø Outcropping mineralisation assayed 59 grammes/tonne (g/t)
silver 1.4% copper, 2.4% lead and 1.8% zinc.
Ø Waste samples from old workings assay up to 181 g/t silver,
3.9% copper, 10.1% lead and 1.2% zinc.
Ø Notice Level Permit submitted for trenching programme.
-- Mt Tobin Silver Prospect
Ø 4 claims staked, 73km south of Winnemucca in north-central
Nevada.
Ø Covers large area of hydrothermal alteration 60m wide x 1,200m
long.
Ø Large silver geochemical anomaly recorded by previous
explorer.
Ø Mapping and sampling planned.
-- Lucky Copper Prospect
Ø 13 claims, 96 km northeast of the major porphyry copper mining
town of Ely, north-east Nevada.
Ø Copper gossan exposed in old workings.
Ø 1951 drill hole ended in mineralisation, intersected 20.4m at
0.65% copper to bottom of the hole at 77.7m depth.
Ø Targeting disseminated replacement/porphyry copper
mineralisation.
Ø Mapping, geophysics and soil sampling planned to help define
drill targets.
Commenting today, Executive Chairman Patrick Cheetham said:
"We have generated these projects at a very low cost to the
Company in line with our strategy to expand our portfolio of gold,
silver and base metal projects in Nevada. We believe they can be
advanced quickly to the drill stage and we look forward to
reporting further news on our evaluation of these projects in due
course."
Total Voting Rights
Tertiary Minerals plc announces that in accordance with
Financial Conduct Authority's Disclosure and Transparency Rules
("DTRs"), the total issued share capital of the Company with voting
rights is 792,169,426 ordinary shares.
There are no shares currently held in treasury. The total number
of voting rights in the Company is therefore 792,169,426 and this
figure may be used by shareholders as the denominator for the
calculations by which they determine if they are required to notify
their interest in, or a change to their interest in, the Company
under the DTRS.
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
Peg Leg Copper-Silver-Lead-Zinc Project
The company has staked 4 mining claims 11km north of Tonopah in
the San Antone Mineral Field. Historical workings comprise shallow
shafts, trenches and bulldozer scrapes exploring contact
metasomatic (skarn) deposits associated with the Frazier's Well
granodiorite.
Peg Leg was originally prospected for tungsten which occurs in
grey marble. The Company's reconnaissance sampling has confirmed
the tungsten content in one skarn layer within the limestone where
sampling across 11m width in an old shallow trench returned 11m at
0.22% tungsten.
Of greater interest, however, is an outcrop of mineralisation
exposed adjacent to the granite contact which assayed 59
grammes/tonne (g/t) silver 1.4% copper, 2.4% lead and 1.8% zinc.
The thickness of this outcropping mineralisation is not known as it
is largely obscured by scree and old mine waste. The waste pile
from a nearby shallow mine shaft contains material assaying up to
181 g/t silver, 3.9% copper, 10.1% lead and 1.2% zinc.
A Notice-level Permit Application has been submitted to enable a
programme of trenching to expose and sample this
mineralisation.
Mt Tobin Silver-Gold Prospect
This project comprises 4 newly staked claims located 73km south
of Winnemucca in north central Nevada.
The prospect was first highlighted in a 1985 Masters Thesis
which describes a zone of stratiform mineralisation in chert and
silicified sediments over a thickness of 45-60m thick and a strike
length of 1,200m. At that time the ground was held by Queenstake
Resources, who in their annual report, referred to geochemical
sampling having outlined a significant silver-lead-zinc anomaly
associated with this large zone of mineralisation. At that time the
anomaly was indicating potential for a volcanogenic massive
sulphide deposit. Queenstake joint ventured the project to another
company which failed to carry out any further work in this
area.
Further work, to include mapping and sampling, is planned to
evaluate this zone of mineralisation.
Lucky Copper Prospect
The Company has staked 13 claims on the east side of the old
Aurum mining centre, 96km northeast of the major porphyry copper
mining town of Ely in north-east Nevada.
In the 1950's the area was under the control of the Combined
Metals Reduction Company, a large mining company in Nevada at that
time. Their sampling of an old inclined adit on Tertiary's claims
showed high grade copper in lenses in gossan associated with a
porphyry dyke along a frontal fault zone on the east side of the
Schellbourne Range.
In 1951 a shallow churn (percussion) dill hole was sited on the
pediment to the east of the adit to test the down dip extension of
this mineralisation and intersected copper mineralised limestone
and porphyry beneath alluvium of the pediment slope. The 20.4m
thickness of this sequence assayed 0.65% copper to the bottom of
the hole at 77.7m depth. The hole therefore ended in
mineralisation.
The Company is targeting disseminated replacement/porphyry
copper mineralisation and a programme of mapping and soil sampling
is planned to help define drill targets.
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCEASSNASEEEEA
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May 29, 2020 02:00 ET (06:00 GMT)
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