29 July
2024
Tertiary Minerals plc
("Tertiary" or the "Company")
MUPALA COPPER PROJECT,
ZAMBIA
SOIL SAMPLING
RESULTS
Further to the news release dated 10
June 2024, the Company is pleased to announce the completion of its
soil sampling programme and receipt of field analytical results at
its Mupala Copper Project in the highly prospective Kabompo Dome of
the Northwestern Province, Zambia.
Key
Points
·
The Mupala Copper Project is located adjacent to
the Anglo American/Arc Minerals Joint Venture ("JV") Project, where
Anglo American has a right to earn a 70% interest through
expenditure of US$88.5 million, and 12 km west of the Company's
Mukai Project.
·
Geologically located on the west side of the
Kabompo Dome, in the prospective Domes Region of northwest Zambia,
which is host to multiple producing copper and nickel mines,
including First Quantum Mineral's Trident Project which adjoins the
Company's Mukai Project.
·
A total of 684 soil samples collected on a 300m by
300m offset grid with infill sample spacing of 150m by 150m in
areas of anomalous copper-in-soil.
·
Copper-in-soil anomaly approximately 1,800m long
by 600m wide identified with a peak value of 422 ppm copper
determined by portable X-ray fluorescence (pXRF) analysis.
The anomaly is consistent with historical exploration data
and extends to the licence boundary with the Anglo American/Arc
Minerals JV.
·
A sub-set of samples will be submitted for check
laboratory based geochemical analysis.
Patrick Cheetham, Executive
Chairman of Tertiary Minerals plc said:
"I
am delighted to announce the delineation of a large and
strategically located copper-in-soil anomaly at Mupala. The anomaly
confirms the prospectivity of the licence which was originally
indicated by historical data and its proximity to the Anglo
American/Arc Minerals JV area. More work is required to determine
the significance of this soil anomaly, but this is a very promising
start to exploration at Mupala."
Further Information:
|
Tertiary Minerals plc:
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Patrick Cheetham, Executive
Chairman
|
+44 (0) 1625 838
679
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|
SP
Angel Corporate Finance LLP
Nominated Adviser and Broker
|
|
Richard Morrison
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+44 (0) 203 470 0470
|
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Caroline Rowe
|
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Peterhouse Capital Limited
Joint Broker
|
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Lucy Williams
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+ 44 (0) 207 469 0930
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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.
Detailed Information
The Mupala Exploration Licence
32139-HQ-LEL (the "Licence") covers 41.2 km2 and is
located in the Kabompo Dome region in the Northwest Province of
Zambia. It is held 100% by the Company's 96% owned subsidiary,
Tertiary Minerals (Zambia) Limited.
The Licence is underlain by rocks of
the prospective Lower Roan Subgroup and lies directly adjacent to
the Anglo American/Arc Minerals joint venture area where Anglo
American has the right to earn a 70% interest through expenditure
of US$88.5 million. Approximately 12 km to the east lies the
Company's Mukai Copper Project and First Quantum Minerals' Trident
Project which is host to the Enterprise Copper and Sentinel Nickel
Mines.
Existing geological maps indicate
that the licence covers some 16 km strike length of the main copper
mineralised horizon in Zambia (Lower Roan Subgroup). Historical
exploration records, albeit incomplete, identified a number of
copper-in-soil anomalies which provided an initial focus for the
Company's exploration of the Licence area.
Soil Sampling Programme
First pass soil samples were taken
on a 300m by 300m offset grid over the entire Licence area with
samples collected from a depth of approximately 30cm in the
B-horizon of the soil profile and dry-sieved to -180 micron. A
subsample of the minus soil fraction was then placed into a plastic
sample cup and analysed in the field by a portable X-ray
fluorescence instrument ("pXRF") to provide analytical results. A
total of 452 first pass soil samples were collected. Analytical
results were relayed from the field and infill sampling was
conducted in the areas of anomalous copper-in-soil. Infill sampling
tightened the grid to 150m by 150m in areas of anomalous
copper-in-soil and a total of 232 infill samples were
collected.
The main copper-on-soil anomaly is
approximately 1,800m long and 600m wide with a peak value of 422ppm
and is broadly coincident with a surface geochemical anomaly
defined by Mwinilunga Mines in the 1960s.
A sub-set of soil samples will now
be submitted for conventional laboratory based geochemical analysis
as a QA/QC check on field results.
Further follow up work is planned to
follow up the significance of the soil geochemical anomaly to
include trenching and/or drilling.
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.
