TIDMTYM
RNS Number : 1708M
Tertiary Minerals PLC
12 September 2023
12 September 2023
Tertiary Minerals plc ("Tertiary" or "the Company")
PROVISIONAL SOIL SAMPLING RESULTS
MUKAI COPPER PROJECT, ZAMBIA
The Company is pleased to announce that portable XRF analysis of
soil samples has defined a substantial copper-in-soil anomaly at
the Mukai Copper Project in Zambia.
Key Points:
-- A total of 526 samples were collected on a 300m x 100m grid
infilled up to 100m x 50m and analysed in the field using a
portable XRF instrument ("pXRF(1) ").
-- A large high-grade copper-in-soil anomaly is defined with
values in excess of a 160ppm copper over an area of approximately
1,300m by 400m with a peak soil value of 1,660ppm copper (0.16%)
and soil values averaging 252ppm (average of 63 samples).
-- This high-grade anomaly is part of broader copper-in-soil
anomaly defined by 162 samples containing greater than 80ppm copper
and averaging 173ppm copper over an area of approximately 1,800m by
800m.
-- Soil anomalies from past producing mines on the Copperbelt
typically have thresholds in the range 50 to 150ppm copper,
averaging 80ppm copper and peak values in the range 100-450ppm
copper and averaging 210ppm copper.
-- A subset of samples will now be submitted for laboratory-based check analysis.
-- The option and earn-in periods at Mukai and Mushima North
Projects have been extended by six months by agreement with local
partner Mwashia Resources to account for earlier delays with forest
permits.
Commenting today, Executive Chairman Patrick Cheetham said:
"I am delighted to announce the definition of a large soil
anomaly at Mukai with very high values of copper-in-soil based on
pXRF analysis. The anomaly stretches to our property boundary with
mining licences owned by First Quantum Minerals as part of the
Trident mining complex and where soils have a lower copper content
but where, nevertheless, drilling has found significant copper
sulphide mineralisation . This enhances the prospectivity of the
main part of the anomaly on the Mukai licence which now presents an
exciting target for drill testing."
"Looking to other projects in Zambia we are currently completing
pXRF analysis of infill samples from the Konkola West soil sampling
programme and results will be available soon. The soil sampling
crew will mobilise to the Mushima North Project shortly."
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
------------------------------
Harry Davies-Ball
------------------------------
Peterhouse Capital Limited
Joint Broker
Lucy Williams + 44 (0) 207 469 0930
-------------------------------
Duncan Vasey
------------------------------
Market Abuse Regulation
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 as it forms part of
UK domestic law by virtue of the European Union (Withdrawal) Act
2018 ('MAR'). Upon the publication of this announcement via
Regulatory Information Service ('RIS'), this inside information is
now considered to be in the public domain.
Background Information
The Mukai Copper Project comprises Exploration Licence
27066-HQ-LEL which covers 55.4 km(2) and is located 125km west of
Solwezi in the north-western Province of Zambia. Tertiary Minerals
plc's 96% owned subsidiary, Tertiary Minerals (Zambia) Limited, is
currently earning up to a 90% interest from local partner Mwashia
Resources Ltd.
The Company has now agreed to extend the option-earn-in period
by six months to account for delays experienced earlier this year
in obtaining forest permits at Mukai and Mushima North. Full
details of the original agreement with Mwashia are given in the
Company's news release of 18 November 2021.
Mukai Project
Geologically the Mukai Project is located in the Domes Region of
the Central African Copperbelt and it encompasses Lower Roan
Subgroup rocks which are part of the southern flank of the highly
prospective Kabompo Dome.
The project lies directly adjacent to First Quantum Minerals
Limited's ("FQM") Trident Project licences which include the
recently opened Enterprise nickel mine and the large producing
Sentinel (Kalumbila) copper mine, located 8km south and 18km
southeast of the Mukai licence, respectively. The Company has a
data sharing and technical cooperation agreement with FQM for the
Mukai and Mushima North Projects, further details of which are
given in the RNS of 15 September 2022.
Soil Sampling Programme
The impetus for the soil sampling programme at Mukai was the
interpretation of regional historical exploration results provided
by FQM where copper-in-soil anomalies and significant drill
intersections of copper occur in a stratigraphic package which
extends into the licence area.
The Company contracted Geo-Junction Consulting Limited to
perform a soil sampling programme at Mukai with work commencing in
late-August 2023.
A total of 311 soil samples were collected in a first pass soil
sampling programme on north-south sampling lines with a sample
spacing of 100m and line spacing of 300m. Soil samples were
collected from the B-horizon, dried and sieved to -180 micron. The
sieved soil samples were placed into a sample cup and analysed
using a pXRF instrument to guide infill sampling.
Initial pXRF results were reviewed in the field and a total of
206 further samples were collected by infilling the first pass grid
at 150m line spacing and an offset 100m sample spacing. In the
areas of the most significant copper-in-soil anomalies the infill
samples were collected on a much tighter 50m by 100m grid.
As a guide to the significance of soil sampling results, the
Company notes(2) that B-horizon soil anomalies for freely drained
soils in the vicinity of various ore zones at current and past
producing mines on the Copperbelt have thresholds in the range 50
to 150ppm copper, averaging 80ppm copper and peak values in the
range 100-450ppm copper and averaging 210ppm copper. In addition,
published data(3) for the giant Sentinel copper deposit (>1
billion tonnes grading 0.51% copper, located close the Company's
Mukai Copper Project in northwest Zambia) shows that the median
copper value for soil samples collected over the sub-cropping
expression of the orebody was 120ppm and only one soil sample
exceeded 500ppm copper.
Initial pXRF results from the Mukai Copper Project indicate a
broad northwest striking anomaly approximately 1,800m long and 800m
wide comprising 174 soil samples with copper values in excess of
80ppm. Soil samples in this broad anomaly contain an average copper
value of 164ppm. Within this, a higher-grade core strikes
northwest, following the favourable stratigraphy, and has
dimensions 1,300m long and 400m wide comprising 71 soil samples
averaging 226ppm copper and having a peak value of 1,660ppm copper
(0.16% copper).
The Company will send a subset of samples for traditional
laboratory-based analysis as a check on these pXRF results.
A map illustrating the copper anomalies described is available
on the Mukai Project page on the Company's website:
https://www.tertiaryminerals.com
Notes:
1. Soil samples were collected from the B horizon at an
approximate depth of 25-30cm at each sample site. Samples were dry
sieved to minus 180 micron with approx. 100 grammes retained and
placed in a plastic sample pot and analysed using a Drawell
DW-EX7000 portable x-ray fluorescence analyser ("pXRF"). A
certified reference material (AMIS0592) was analysed once between
every 10 soil samples to monitor for instrument drift.
2. Mwamba, J., 2018. Exploration Potential for Copperbelt -
Style Mineralisation in NW Province, Zambia; Soil Geochemistry as a
targeting tool. M.Sc. Dissertation Rhodes University (Data
presented for 20 deposits, 2 deposits excluded as high
outliers).
3. Halley, S.W. et.al; 2016. Using Multielement Geochemistry to
Map Multiple Components of a Mineral System: Case Study from a
Sediment-Hosted Cu-Ni Camp, NW Province, Zambia, SEG Newsletter
January 2016.
4. The information in this release has been reviewed by Mr.
Patrick Cheetham (MIMMM, M.Aus.IMM), Executive Chairman of Tertiary
Minerals plc, 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.
5. 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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