TIDMTYM
RNS Number : 0147P
Tertiary Minerals PLC
14 October 2021
Tertiary Minerals plc
("Tertiary" or "the Company")
Pyramid Silver Discovery Extended
Tertiary Minerals plc (AIM: TYM) is pleased to report an update
from its Pyramid Silver-Gold Project in Nevada, USA, where
analytical results from the Company's recently completed Phase 2
trenching has extended the strike and width of recently discovered
silver mineralisation at North Ruth.
Highlights:
-- The second phase of trenching has confirmed and extended the existing discovery;
-- Silver and gold mineralisation has now been shown to extend
over a strike extent of at least 530m;
-- Trench 1 EXT, an extension to trench 1, revealed a zone width of up to 59 metres;
-- Grades as high as 595g/t silver (17.35 ounces/ton) and 0.66g/t gold were intersected.
Commenting today, Managing Director Patrick Cullen said: "The
results reported today from Pyramid highlight a significant zone of
silver mineralisation with a target strike length of at least 530
metres."
"We have also delineated a zone up to 50 metres thick at
surface, with some high-grade silver results and significant
complementary gold."
"North Ruth is an attractive drill target and we look forward to
reporting further progress on this exciting discovery."
Results:
Thickness Silver Gold From To
(m) (g/t) (oz/ton) (g/t) (m) (m)
------- --------- ------ ------- ------
Trench 1 EXT 58.98 73.39 2.14 0.13 23.62 82.60
---------- ------- --------- ------ ------- ------
Includes 3.35 218.45 6.37 0.25 27.43 30.78
---------- ------- --------- ------ ------- ------
Includes 2.13 595.00 17.35 0.66 72.85 74.98
============== ========== ======= ========= ====== ======= ======
Trench 7 2.44 64.39 1.88 0.47 22.40 24.84
============== ========== ======= ========= ====== ======= ======
Trench 8 26.80 37.16 1.08 0.12 19.51 46.33
---------- ------- --------- ------ ------- ------
Includes 6.09 101.50 2.96 0.26 31.09 37.19
---------- ------- --------- ------ ------- ------
Trench 8 6.09 1.10 0.03 0.73 85.344 91.44
---------- ------- --------- ------ ------- ------
A summary of significant results(1) is shown in the table above.
The location of the trenches and intersections outlined in this
news release are shown on Maps 1 and 2, which may be accessed here
http://www.rns-pdf.londonstockexchange.com/rns/0147P_1-2021-10-13.pdf
or on the Company website. Further detailed information may be
found below.
For more information please contact:
Tertiary Minerals plc:
Patrick Cullen, Managing Director +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
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 which 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:
Background
The Pyramid Gold-Silver Project is located in north-central
Nevada, USA and is targeting epithermal gold-silver mineralisation
at the northwest end of the prolific past producing Walker Lane
Mineral Belt.
On 3 June 2021, the Company announced results from its Phase 1
trenching programme which was designed to test various gold and
silver soil anomalies. Trenching was restricted to the North Ruth
and Western Line soil anomalies which fall within the private land
portion of the Pyramid Property currently under lease to the
Company. Six trenches were excavated in April 2021 to expose
bedrock over continuous sections of these two anomalies.
Two trenches, Nos. 1 and 2, were located over the north and
south ends of the North Ruth soil anomaly respectively. Assay
results from Trench No.1 revealed a 46m continuous thickness of
mineralisation grading 61g/t silver (1.78 ounces/ton) and 0.09g/t
gold starting 42.67m from the east end of the trench and continuing
up to the western end of this trench where it ended in
mineralisation. This 46m section contained two separate
higher-grade zones of 9.14m grading 146 g/t silver (4.27
ounces/ton) and 0.10g/t gold and 3.05m grading 99 g/t silver (2.88
ounces/ton) and 0.15 g/t gold. The excavator used for trenching in
Phase 1 had some difficulty in trenching through the mineralised
zone due to the high level of silicification of the host rocks.
Phase 2 Trenching Programme
In August 2021, the Company conducted a Phase 2 trenching
programme at Pyramid using a larger and more powerful excavator to
further define surface silver mineralisation at North Ruth and test
additional gold and silver in soil anomalies located on the public
land portions of the Project Area. Five trenches (numbers 1 EXT, 7,
8, 10 and 11) were completed for a total of 443m. Three trenches (1
EXT, 7 and 8) were located at North Ruth to follow up on the
positive results of the Phase 1 trenching programme.
Trench 1 EXT was designed to deepen and extend Trench No. 1 to
better define the width of mineralisation at that location. Trench
1 EXT extended the grade of the mineralisation cutting 58.98m of
continuous silver mineralisation grading 73g/t silver (2.14
ounces/ton) with 0.13g/t gold. This includes two high grade
intervals of 3.35m grading 218g/t silver (6.37 ounces/ton) with
0.25g/t gold and 2.13m grading 595g/t silver (17.35 ounces/ton)
with 0.66g/t gold. The latter high-grade intersection is within
that part of trench 1 EXT that extended Phase 1 Trench 1.
Trenches, No. 7 and No. 8, were excavated along strike from
Trench 1 EXT. Trench No.7, located approximately 73m to the
northwest, cut 2.44m grading 64g/t silver (1.88 ounces/ton) with
0.47g/t gold. Trench 7 was not able to be completed to its full
planned width due to the steepness of the slope.
Trench 8 was located 65m southeast of Trench 1 EXT and
approximately 395m northwest of Phase 1 Trench 2 which previously
reported an intersection of 3.05 m grading 260 g/t silver (7.58
ounces/ton) and 0.27 g/t gold. Trench 8 cut 26.80m grading 37g/t
silver (1.08 ounces/ton) with 0.12g/t gold which included a
higher-grade zone of 6.09m grading 102g/t silver (2.96 ounces/ton)
with 0.26g/t gold. Trench 8 also cut a separate gold bearing zone
6.09m wide grading 0.73g/t gold with negligible silver.
Two additional trenches were located on the public land portions
of the Project Area to test the Western Line and Western Splay soil
anomalies. Narrow zones of mineralisation were encountered in both
trenches. Results include 0.6m grading 78g/t silver (2.27
ounces/ton) and 0.45g/t gold from Trench 10 and 1.2m grading 6g/t
silver (0.16 ounces/ton) and 1.65g/t gold in Trench 11.
Taken together, trenches 1, 1 EXT, 2, 7 and 8 define a zone of
silver mineralisation at North Ruth that is at least 530m long.
The mineralisation at North Ruth occurs within volcanic ash-flow
tuffs of the Perry Canyon Caldera where they are in fault contact
with, and form the east facing slopes to, a more resistant and
older rhyolitic and a contemporaneous andesitic intrusion. The
mineralisation strikes northwest-southeast, outcrops, is oxidized
at surface, and characterized by areas of brecciation and strong
silicification with higher grade areas coincident with resistant
jasperoidal ribs. The mineralisation in the Pyramid Mining District
has been described as high sulphidation-type epithermal although at
North Ruth, which is on the western margin of the known district,
the characteristics are more suggestive of a lower sulphidation
state.
Notes:
1. Significant is defined as a minimum 2m with of sample grading
a minimum of 15g/t silver or 0.25g/t gold. Narrow lower grade
material may be included where they are internal to the reported
intervals. Reported thicknesses are thicknesses measured along the
trench.
2. Units:
Rock samples reported in g/t = grammes/tonne
1 g/t = 0.029167 ounce/ton (i.e. troy ounces/US ton)
1ppm = 1 g/tonne
1 (Troy) ounce =31.105g
3. Trench samples were collected by consulting Geologist Ivan
Johnson as continuous chip samples over a maximum of 20 feet per
sample. Samples were transported under chain of custody to Paragon
Geochemical facilities in Reno, Nevada for sample preparation.
Samples were crushed to 85% passing 200mesh using PREP-RMB. Gold
was analysed by method Au-AA30 which comprises 30g fire assay with
aqua regia digest/AAS finish. Multielement analysis (including Ag)
was performed using method 33--MA-OES which comprised a 4-acid
digest with ICP/OES finish. Ag overrange analysis was performed
using method Ag-Gr30, a 30g fire assay with gravimetric finish.
Paragon carries out duplicate and standard materials analysis as
part of its internal QA/QC procedures.
4. 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.
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.
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DRLUOOWRAVURAAA
(END) Dow Jones Newswires
October 14, 2021 02:00 ET (06:00 GMT)
Tertiary Minerals (LSE:TYM)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Tertiary Minerals (LSE:TYM)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024
