Tertiary Minerals plc is pleased to provide the following updates on its Brunton Pass & Pyramid Projects in Nevada, USA.
Brunton Pass Copper Project (100% owned)
- Trenching Programme to commence on or around 20 July 2022.
- Programme to comprise up to 950m of trenching in 11 separate trenches to test:
- Areas of outcrop containing up to 6.84% copper and 1.75 grammes/tonne (g/t) gold in separate chip samples.
- Multiple copper and gold soil geochemical anomalies defined in association with extensive skarn and hornfels alteration.
- Mercury soil geochemical anomalies in areas showing additional potential for epithermal gold and silver.
Pyramid Silver-Gold Project
- Project terminated following review of the drill results released on 13 April 2022 and in view of other project priorities.
- Termination will result in cash savings of over US$33,000 in lease and claim fees for the remainder of 2022 and over US$75,000 in 2023.
- Accumulated costs to be impaired (£361,379 as at 31 March 2022).
Commenting today, Executive Chairman Patrick Cheetham said: “We are continuing to focus on exploration for copper, the most widely used battery metal. The decision to terminate the Pyramid Project in Nevada was made in light of the impressive and recently reported drill results from our Jacks Copper Project in Zambia, the reporting of negative drill results from the Pyramid Project earlier this year and following a recent review of the Company’s priorities for expenditure in Nevada and Zambia. The funds saved will be applied to a trenching programme at our Brunton Pass Copper Project in Nevada where our systematic exploration to date has highlighted multiple soil geochemical anomalies and zones of copper-skarn mineralisation that require further evaluation. We remain committed to exploring in both Zambia and Nevada as this project and country diversification allows us to work year-round, with exploration access in Zambia being restricted during the southern hemisphere summer wet season.”
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 |
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| Richard Morrison | +44 (0) 203 470 0470 | |
| Caroline Rowe | ||
| Peterhouse Capital Limited
Joint Broker |
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| Lucy Williams | + 44 (0) 207 469 0930 | |
| Duncan Vasey | ||