Source - LSE Regulatory
RNS Number : 9222L
Tertiary Minerals PLC
18 January 2021
 

18 January 2021

 

Tertiary Minerals plc ("Tertiary" or "the Company")

 

NEW COPPER EXPLORATION PROJECT

BRUNTON PASS, NEVADA USA

 

Tertiary Minerals plc is pleased to announce that it has staked claims over a new copper exploration project at Brunton Pass in Nevada, USA.

 

Highlights 

 

Brunton Pass Copper Project, Nevada (100% owned by Tertiary)

 

Ø 24 mining claims staked with copper mineralisation spread over a 1km x 0.6km target area.

 

Ø Samples collected by United States Bureau of Mines (USBM) contain up to 6.91% copper including a chip sample grading 1.36% copper over 3.66m (12ft).

 

Ø Follow up samples taken by the Company confirm widespread copper mineralisation and include an 8ft channel sample grading 4.66% copper over 2.44m (8ft) .

 

Ø Copper mineralised samples also anomalous in uranium - large scintillometer anomaly reported.

 

Ø Exploration underway, drone magnetic survey commissioned to commence within the next two weeks.

 

 

Commenting today, Executive Chairman Patrick Cheetham said:

"I am delighted to be announcing this new project acquisition as we continue to build our mineral project portfolio in Nevada. We have been able to confirm historic reports of widespread copper mineralisation with significant grades at surface.

This adds a second copper project alongside our precious metals projects and complements our Lucky Copper Project where our planned drill programme is now permitted and where we expect to be drilling as soon as a rig becomes available. Copper is increasingly a focus for the Company. It is a key metal in electric vehicles, prices are strong, and the market outlook is favourable."

We look forward to reporting exploration results from this exciting prospect in what is shaping up to be a busy and a pivotal year for the Company."

 

DETAILED INFORMATON FOLLOWS BELOW

 

 

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 as defined in Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

 

Brunton Pass Copper Project

The Company has staked 24 new mining claims on the east side of the Paradise Range, just north of State Highway 91, 190 km southwest of Reno, Nevada.

Mercury was discovered in the claim area in 1945 and a small amount of mercury was produced in 1948. The area south of the mercury workings was drilled by Phillips Uranium Corp. in 1978 to test a reportedly large scintillometer anomaly but no further records can be found.

In 1991 the area was mapped and sampled by the US Bureau of Mines (USBM) during a study of the mines, prospects, and mineral occurrences of that part of the Paradise Range, administered as Toiyabe National Forest, although the prospect is itself outside of the National Forest.

The prospect area is underlain by Triassic-age limestone, sandstone, and siltstone which has been intruded by diorite. The sedimentary rocks are strongly altered locally and appear to be in fault contact with Tertiary-age volcanic rock (rhyolite) on all sides. Prospector small-scale workings are spread throughout a 1km x 0.6km area within the sedimentary enclave. Most of the workings explore shear zones and contact metasomatic (skarn) zones containing garnet, epidote, calcite, and copper minerals. Zones of silicification are abundant.

The USBM collected a total of 14 samples from across the prospect area and 8 of these contained values above 1% copper and up to 6.91% copper including a chip sample over 12ft (3.66m) grading 1.36% copper.

In addition to the copper and mercury zones, the area contains anomalous gallium, bismuth, tellurium, selenium, thallium, and arsenic, all elements considered to be precious metal "pathfinder" elements.

Prior to staking its claims the Company carried out a reconnaissance of the southern half of the prospect to confirm the USBM records of widespread copper mineralisation.

Of 10 grab and chip samples taken by the Company 5 samples contained over 1% copper including an 8ft (2.44m) channel sample grading 4.66% copper.

Other samples were significantly anomalous including an outcropping jasperoid containing 0.31% copper.

The Company's copper-rich samples are also anomalous in uranium (up to 106ppm) and so the report of a large scintillometer further enhances the prospectivity of the project.

The Company has commissioned a detailed drone magnetic survey to assist in target delineation. This will be carried out within the next two weeks and further exploration will follow.

 

A thematic plan illustrating the information contained in this news release will be available on the Brunton Pass Project specific page of the Company's website.

 

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 with projects in Nevada and Sweden.

 

 

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