Reported Earnings • Feb 18
Full year 2025 earnings released: EPS: UK£0 (vs UK£0 in FY 2024) Full year 2025 results: EPS: UK£0 (in line with FY 2024). Revenue: UK£200.6k (up 23% from FY 2024). Net loss: UK£583.9k (loss widened 6.0% from FY 2024). Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Announcement • Feb 18
Tertiary Minerals plc, Annual General Meeting, Mar 19, 2026 Tertiary Minerals plc, Annual General Meeting, Mar 19, 2026. Announcement • Feb 06
Tertiary Minerals plc Announces Laboratory Results for the Four Holes Completed During the Phase 3 Drilling Programme At Target A1 At Its Mushima North Project in Zambia Tertiary Minerals plc announced laboratory results for the four holes completed during the Phase 3 drilling programme at Target A1 at its Mushima North Project in Zambia ("Mushima North" or the "Project") prior to the programme being curtailed by the early start to the wet season. Preliminary results from portable X-Ray Fluorescence ("pXRF") analysis of drill samples were notified on 13 November 2025. The laboratory analytical results indicate further high-grade silver and copper mineralisation in the north of Target A1, which has a mineralisation footprint of 450m by up to 400m wide area, and remains open to the northwest, south/southeast and at depth. Mushima North is located in the prospective Iron-Oxide-Copper-Gold region of Zambia. Target A1 is a polymetallic, silver-copper-zinc prospect located 28km to the east of the historic Kalengwa copper-silver mine which is currently under redevelopment and is one of several targets to be evaluated at the Project. Highlights: Drill intersections include (downhole widths, true widths unknown): o 97m at 56 g/t Ag, 0.43% Cu and 0.19% Zn (85 g/t Ag equivalent or 1.42% Cu equivalent) from 6m downhole (hole 25TMNRC-043). Including: SS 42m at 81 g/t Ag, 0.,70% Cu and 0.24% Zn from 55m downhole, and SS 27m at 98 g/t Ag, 0".91% Cu and 0.25% Zn from 70m downhole, and SS 13m at 77 g/t Ag, 1.46% Cu and 0.23% Zn (168 g/t Ag equivalent or 2.80% Cu equivalent) from 84m downhole. o 11m at 18 g/t Ag, 0.'18% Cu and 0.20% Zn (32 g/t Ag equivalent or 0.54% Cu equivalent) from 20m downhole (hole 25 TMNRC-044). o 17m at 14 g/t Ag, 0;25% Cu and 0.41% Zn (36 g/t Ag equivalent or0.60% Cu equivalent) from 51m downhole (hole 25™NRC-044). Best copper drill intersection to date: 13m at 1.46% Cu (2.8 0 % Cu equivalent) from 84m, with individual metre samples of up to 3.17% Cu (hole 25TMNRC -043). Silver mineralisation occurs over a 450m by 400m surface area and depth of mineralisation extended from 84m to 103m. O Mineralisation footprint remains open to the northwest, South/southeast and at depth extent remains to be fully tested. O JORC Exploration Target to be finalised in the coming weeks. Phase 3 Drill Programme A programme of approximately 1,000m Reverse Circulation ("RC") drilling was planned as part of the Phase 3 Drill Programme before heavy and earlier than expected rains cut this short. Four vertical holes were completed to a maximum depth of 127m testing the northern extent of the mineralisation footprint. The four drill holes now being reported, and described below, are located on two 100m spaced east-west drill lines, 8507275N and 8507375N. Drill line 8507375N represents the most northern drill traverse drilled to date. 25TMNRC-041: Located on a two drill-hole line with 25TMNRC-042. The drill hole was drilled vertically to a downhole depth of 112m. The hole was designed to test the continuation of the mineralisation to the north of drill line 8507275N. The Project lies 20km to the east of the Kalengwa copper mine in northwest Zambia, one of the highest-grade copper deposits ever to be mined in the country. In the 1970s, high-grade ore, average approximately 11% copper, was trucked for direct smelting at other mines in the Copperbelt. The Kalengwa mine is currently under redevelopment and is expected to produce 15,000 tonnes of copper annually. Numerous other geochemical and is expected to produce 15. Numerous other geochemical and/or geochemical and/or geophysical targets (A2,000 tonnes of copper annually; Numerous other geophysical targets (A2. Numerous other geophysical targets (NRC) are yet to be drill tested (A2, B1,000 tonnes of copper annually.; Numerous other geophysical targets (a2, B2, B2,000 tonnes of drill tested (A2,000 tonnes the east of the east of these are yet to be drill tested. Numerous other geophysical targets ("A2,000 tonnes of the historic Kalengwa mine is yet to be drill tested. numerous other geochemical and/or Geochemical and/or geophysical target A2, B. New Risk • Jan 13
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Revenue is less than US$1m (UK£186k revenue, or US$251k). Market cap is less than US$10m (UK£3.87m market cap, or US$5.21m). Minor Risk Latest financial reports are more than 6 months old (reported March 2025 fiscal period end). Announcement • Nov 14
Tertiary Minerals plc Provides an Update on Work Programme At Target A1 and Preliminary Results from Portable X-Ray Fluorescence Analysis of Drill Samples Tertiary Minerals plc provided an update on work programmes at Target A1 and preliminary results from portable X-Ray Fluorescence ("pXRF") analysis of drill samples. Target A1 is a polymetallic (silver-copper-zinc) prospect, part of the Mushima North Project ("Mushima North" or the "Project") and is located in the prospective Iron-Oxide-Copper-Gold region of Zambia. Target A1 is located 28km to the east of the historic Kalengwa copper-silver mine which is currently under redevelopment. Highlights: 4 holes completed in this Phase 3 drill programme for a total of 481m with the deepest hole having been drilled to a depth 127m. Remaining programme put on hold due to the early start of unusually heavy rains. Including: 47m at 0.58% Cu from 58m downhole, and SS 25m at 0.75% Cu from 80m downhole, and 8m at 1.13% Cu from 89m downhole. 30m at 0.17% Cu from 12m downhole (hole 25TMNRC-044). Including: 25m at 0.23% Cu from 51m downhole, and SS 3m at 0.6% Cu from 60m downhole. Initial mineralogy identifies native silver and native copper, along with other copper-bearing minerals. JORC Exploration Target work to now commence. Phase 3 Drill Programme A programme of approximately 1,000m Reverse Circulation ("RC") was planned as part of Phase 3 drilling. Initially drilling proved very promising, but heavy and earlier than expected rains have resulted in the pause of this programme until after the rains, most likely in March/April 2026. Four vertical holes were completed with a maximum depth of 127m testing the northern extent of the currently open-ended mineralisation footprint. The four drill holes now being reported, and described below, are located on two east-west drill lines, 8507275N and 8507375N. Drill line 8507375N represents the most northern drill traverse drilled to date. 25TMNRC-041: Located on a two drill-hole line with 25TMNRC-042. The drill hole was drilled vertically to a downhole depth of 112m. The hole was designed to test the continuation of the mineralisation to the north from drill line 8507275N. 25TMNRC-04 2: Located on a two drill - line with 25TMN RC-042: Located on a two drill the north from drill line 850 7275N. 25TMNRRC-042: Located on an two drill-hole line with25TMNRC-042; Located on a two drill- hole line with 25 TMNRC-042. Announcement • Nov 01
Tertiary Minerals plc Announces Upcoming Phase 3 Drill Programme At Target A1, Mushima North Project, Zambia Tertiary Minerals plc announced details of the upcoming Phase 3 drill programme at Target A1, its silver-copper-zinc prospect within the Mushima North Project ("Mushima North" or the "Project"). Mushima North is located in the prospective Iron-Oxide-Copper-Gold region of Zambia, and Target A1 is a polymetallic, silver-copper-z Inc. prospect located 28km to the east of the historic Kalengwa copper-silver mine which is currently under redevelopment. Highlights: Planned drilling programme of approximately 1,000m of Reverse Circulation drilling. Drilling to test: further lateral extensions of the known mineralisation, particularly around the high-grade silver and copper mineralisation in the north. the continuity of mineralisation between wider-spaced drill lines, by obtaining additional mineralisation intersections. the depth extension of the known mineralisation. Phase 2 drilling of this target in mid-2025 returned drill intersections including (downhole widths, true widths unknown): 58m at 49 g/t Ag, 0.26% Cu and 0.16% Zn (72 g/t Ag equivalent or 0.94% copper equivalent) from 8m downhole (hole 25TMNAC-038). Including: 20m at 86 g/t Ag, 0.,44% Cu and 0.24% Zn from 46m downhole. Drilling again before the rains, rather than waiting until the start of the next dry season in March-April next year, shows resolve to aggressively advance this Project and add shareholder value. "Target A1 now has a surface footprint of approximately 450m by 400m, with mineralisation intersected to a vertical depth of up to 84m. However, the mineralisation remains open to the north/northwest, south/southeast and at depth. This drill programme will test the potential continuation of mineralisation along strike and at depth, as well as providing additional infill drilling. This work is aimed at bringing closer to goal of producing a maiden mineral resource in the next 12 months. Drilling Programme A programme of approximately 1,000 m of Reverse Circulation ("RC") drilling is planned as a series of east-west drill lines spaced approximately 100m apart (north-south). Holes will be collared approximately 50 to 100m apart along the east-west lines and drilled to a nominal depth of approximately 100m. De De De De Deceal holes (approximately 150m) will also be undertaken in key areas to further understand the potential continuation of mineralisation at depth. The drill programme at Target A1 is designed to test: further lateral extensionsof the known mineralisation, particularly across the high-grade silver and Copper mineralisation previously intersected in drillhole 25TMNAC- 038; the continuity of mineralisation between wide-spaced drill lines, By obtaining additional mineralisation intersections; the depth extension of the known Mineral Resource Estimate, if future drilling results warrant such an approach. The drill programme is being conducted by Ox Drilling which also completed the Phase 1 and Phase 2 drill programmes. The drill programme is expected to commence in early November, will take approximately 2 weeks to complete and is planned to be finished prior to the on-set of the heavy rains in the area which will inhibit further on-the-ground exploration until March-April 2026. Samples will be initially analysed on site using a portable X-Ray Fluorescence ("pXRF") analyser for copper and zinc. Phase 1 drilling (1,486m) in 2024 targeted the copper-in-soil anomaly and returned broad but generally low-grade copper mineralisation as reported in the news release dated 28 October 2024 (e.g. 57m at 0.20% Cu from 14m downhole, hole 24TMNAC-004). Higher grade copper mineralisation was also intersected within these broader zones (e.g. 6m at 0.58% Cu within 35m at 0.21% Cu within 35m at 22m downhole, from 22m downhole, hole 24m downhole, hole 24 TMNAC-024). Drilling over the silver-2025N) to the silver-soil anomaly (drill line: 8506925N) to the east identified wide and zinc-in-soil anomaly (drilling over the east identified wide and thick, near and zinc-soil anomaly (drill intersections including the silver-2025NAC-2025NAC-soil anomaly (dr Drill line: 8m downhole 24TMNAC-2025Nac-2025NAC-2NAC-2025N). Drilling over the east-2025NAC-t Ag, hole 24TMN) to the east identifiedwide and zinc-2025NAC-to the east identified wide and Zn). Announcement • Oct 21
Tertiary Minerals plc has filed a Follow-on Equity Offering in the amount of £0.1 million. Tertiary Minerals plc has filed a Follow-on Equity Offering in the amount of £0.1 million.
Security Name: Ordinary shares
Security Type: Common Stock
Securities Offered: 153,846,154
Price\Range: £0.00065
Transaction Features: Subsequent Direct Listing Announcement • Oct 11
Tertiary Minerals plc Provides Update on Target A1 Prospect Located Within Its Mushima North Project Tertiary Minerals plc provided the following summary of recent news highlighting the Target A1 prospect located within its Mushima North Project ("Mushima North" or the "Project"). Mushima North is located in the prospective Iron-Oxide-Copper-Gold region of Zambia. Target A1 is a polymetallic, silver-copper-zinc prospect located 28km to the east of the historic Kalengwa copper-silver mine which is currently under redevelopment. Highlights: Near surface (from 2m) mineralisation identified up to a depth of 84m with a surface footprint of approximately 450m by 400m. 73m at 32 g/t Ag, 0.16% Cu and 0.24% Zn (49 g/t Ag equivalent or 0.64% copper equivalent) from 11m downhole (hole 25TMNAC-025). Including: 21m at 66 g/t Ag, 0.,21% Cu and 0.30% Zn from 50m downhole. Elevated values of additional critical metals, including antinomy (up to 0.21%) and gallium (up to 40 g/t), as well as bismuth (up to 991 g/t). Multiple targets defined based on regional geochemical and geophysical targets still to be drill tested located within 12km of Target A1. Located only 28km east of the Kalengwa copper-silver Mine (approx. 4Mt @ 5.2% Cu, 40 g/t Ag) and with a similar geological setting. Located in the Iron-Oxide-Co Copper-Gold ("IOCG") region of northwestern Zambia. Highly prospective for not only IOCG but also sedimentary copper and polymetallic occurrences. Target A1 Target A1 is a large copper-in-soil anomaly (3.1km by 1.7km) with copper values up to 302ppm (per Portable X-Ray Fluorescence, "pXRF") associated with a 1.7km by 0.5km zinc- and coincidental 1.3km silver-in-soil anomaly. Phase 1 drilling (1,486m) in 2024 targeted the copper-in-soil anomalies and returned broad but generally low-grade copper mineralisation as reported in the news release dated 28 October 2024 (e.g. 57m at 0.20% Cu from 14m downhole, hole 24TMNAC-004). Higher grade copper mineralisation was also intersected within these broader zones (e.g. 6m at 0.58% Cu within 35m at 0.21% Cu, from 22m downhole, hole 24 TMNAC-024). Drilling over the silver- and zinc-in-soil anomalies (drill line: 8506925N) to the east identified wide and thick, near surface silver mineralisation associated with low-grade copper and/or zinc mineralisation. The Phase 2 drill programme (1,116m) targeted the silver and zinc-in soil anomaly. The silver mineralisation has now been confirmed to extend approximately 450m northwest-southeast and by 400m northeast-southwest and to a depth from near surface to 84m and remains open both to the north/northwest, south/southeast and at depth. Historically, gold is associated with other deposits and occurrences with the region, and as such gold analysis is also being undertaken on selected mineralised intersections to ascertain whether gold mineralisation is associated with any of the mineralisation styles interested so far. The company is also in discussions with external, independent consultants to determine whether or not there is currently enough drilling data to support the reporting of an Exploration Target (following the guidelines of The JORC Code) so as to provide an estimated range of in-situ tonnes and grade. Next steps would include additional drilling with aims to test: Further lateral extensions of the known mineralisation, particularly around the high-grade silver and copper mineralisation, and the continuity of the known mineralisation between wider-spaced drill lines, by obtaining additional mineralisation interceptsaced drill lines, and extensions at depth. Announcement • Sep 24
Tertiary Minerals plc Announces Drilling Results for Further Three Holes from the Phase 2 Follow-Up Drill Programme At Target A1 At Its Mushima North Project in Zambia Tertiary Minerals plc announced drilling results for a further three holes from the Phase 2 follow-up drill programme at Target A1 at its Mushima North Project in Zambia. The analytical results from the new drillholes support the previously reported northern continuation of the thick near surface mineralisation defined by only one drill hole until now, extends over a width of approximately 300m. Silver mineralisation has now been intersected in drilling over a 350m by 300m area, and remains open to the north, south and at depth. Mushima North is located in the prospective Iron-Oxide-Copper-Gold region of Zambia. Target A1 is a polymetallic, silver-copper-zinc prospect located 28km to the east of the historic Kalengwa copper-silver mine which is currently under redevelopment. Including: 15m at 63g/t Ag, 0.13% Cu and 0.56% Zn from 33m downhole. And: 16m at 1.59% Zn from 56m downhole. Mineralisation, including higher grade zones, remains open to the north, South and at depth. Results include the highest grades of zinc (3.35%) and antimony (0.21%) intersected to date from certified laboratory analytical results on the Project. Additional drill hole results expected in the coming weeks testing both northern and southern continuation of mineralisation. Initial mineralogical/metallurgical work now underway. Phase 2 Drill Programme As previously reported, the Phase 2 drill programme consisted of 1,116m of combined Air Core ("AC") and Reverse Circulation ("RC") drilling along a series of east-west drill lines spaced between 100m and 250m apart, north-south. Holes were collared approximately 100m apart along the east-west lines and drilled to the maximum depth possible at the time based on the drill rig capabilities and geological ground conditions (the bit refusal depth). The deepest drill hole in this programme was 99m and the average hole depth 70m. Combined Phase 1 and 2 drilling covers a surface footprint of approximately 1,680m by 550m. The Project's western boundary lies 20km to the east of the Kalengwa copper-silver Mine in northwest Zambia, one of the highest-grade copper deposits ever to be mined in Zambia (approximately 4 million tonnes at 5.2% copper and 40-80 g/t silver). In the 1970s, high-grade ore, reportedly averaging approximately 11% copper, was trucked for direct smelting at other mines in the Copperbelt. The Kalengwa mine is currently under redevelopment and is expected to produce 15,000 tonnes of copper annually. Several prospective targets have been defined thus far within the Project based on reviews of historic geochemical and geophysical survey data against the current exploration model developed by Tertiary (Targets A1, A2, B1, B2, B3 and C1). At the end of the summer 2024, Tertiary completed an initial (Phase 1) 25 AC drill hole programme (1,274m) to test parts of geochemical (copper-in-soil) anomalies at Targets A1 and C1. This limited and shallow drilling indicated wide downhole intervals of largely coincised by the current exploration model. Announcement • Aug 13
Tertiary Minerals plc Announces Completion of Phase 2 Drill Programme at Target A1, Mushima North Tertiary Minerals plc announced the completion of the follow-up drill programme at Target A1 at its Mushima North Project and preliminary results from portable X-Ray Fluorescence analysis of drill samples. Mushima North is located in the prospective Iron-Oxide-Copper-Gold region of Zambia. Target A1 is a polymetallic, silver-copper-zinc prospect. Phase 2 drilling is now complete, with 1,116m drilled over 16 holes. Extension of known mineralisation. Additional s ilver, zinc and copper mineralisation identified, extending the known mineralisation approximately 350m to the north and over a width of approximately 300m. Mineralisation remains open to the north and at depth. Results indicate the continuation of mineralisation to the north from the previous drilling for at least 350m, over broad intervals and with a continued width of approximately 300m. Higher copper values than previous results, such as 58m at 0.27% copper from 7m downhole, including 8m at 0.79% copper are particularly encouraging. Silver results from the pXRF analyser, while only indicative, do suggest the continuation of the silver mineralisation identified in the previous drill programme to the north. The preliminary results from the Company's internal analysis using a pXRF analyser indicate the continuation of mineralisation for at least 350m to the north of the previously reported drilling with significant silver, zinc and copper values. Mineralisation has also been intersected deeper than previously, to a vertical depth of approximately 82m on drill line 8506925N. Drill holes to the south (lines 8506650N, 8506360N and 8505650N) returned anomalous values of zinc and copper, but below the Company's reporting cut-off grades of 0.2% and 0.1%, respectively. However, the potential extent of silver mineralisation in this direction is unknown at this stage as the pXRF results for silver are not sufficiently reliable to indicate average grades over known mineralised extents. Certified, independent laboratory analysis is currently underway to confirm copper and zinc values and to ascertain silver values along with other potential, important accessory metals including bismuth, antimony and gallium. The agreement is non-binding to any further agreement and there are no commercial restrictions for Tertiary, nor does FQM have a right of first refusal over the Project. At the end of the summer 2024, Tertiary completed an initial (Phase 1) 25 AC drill programme (1,274m) to test parts of geochemical (copper-in-soil) anomalies at Targets A1 and C1. This limited and shallow drilling indicated wide downhole intervals of largely coincidental copper, zinc and silver mineralisation at Target A1. Numerous other geochemical and/or geophysical targets (A2, B2, B3, C2) are yet to be drill tested. Drilling Programme A programme of 1,116m combined Air Core ("AC") and Reverse Circulation ("RC") has now been completed, with a series of east-west drill lines spaced approximately 250m apart (north-south). Holes were collared approximately 100m apart along the east-west lines and drilled to bit refusal depth (average hole depth 70m). Announcement • Jul 21
Tertiary Minerals plc Announces Commencement of Drilling at Target A1, Mushima North Project, Zambia Tertiary Minerals plc announced commencement of drilling at Target A1, a polymetallic (silver-copper-zinc) prospect. Target A1 is located on the Mushima North Project ("Mushima North" or the "Project") within the prospective Iron-Oxide-Copper-Gold region of Zambia. Highlights: Planned drilling programme of up to 1,500m Air Core/Reverse Circulation drilling. Aim to test along strike and downdip continuations of mineralisation at Target A1, where drilling of this target in late 2024 returned drill intersections including (downhole widths, true widths unknown): 57m at 25 g/t Ag, 0.20% Cu, 0.15% Zn from 14m downhole (24TMNAC-004). Including: 5m at 73 g/t Ag, 0.,16% Cu, 0.31% Zn from 69m downhole. Target A1 is located only 28km east of the historic Kalengwa copper-silver mine which is under redevelopment. Drilling Programme A programme of up to 1, 500m combined Air Core ("AC") and Reverse Circulation ("RC") drilling is planned as a series of east-west drill lines spaced approximately 250m apart (north-south). Holes will be collared approximately 100m apart along the east-west lines and drilled to a nominal depth of approximately 75m. De De De De De De Deveveveveveveve ve ve ve ve ve ve vevevevevevevevvvvvvvggggggg. Drilling Programme A program is planned as a series of East-west drill lines spaced approximately250m apart (north-south). Holes will been collared approximately 100m apart across the east- west lines and drilled to a nominaldepth of approximately 75m. DevevevevevevedveveveveveveVEVEVEVEVEVEVEVVVVVVV. The drill programme at Target A1 is designed to: Test the silver- and part of the broader zinc-in-soil anomaly over approximately 1.6km of strike and up to 0.3 km width. Test the depth extension of mineralisation in key areas to a depth of up to 150m. Gain insights into the mineralisation styles and grade continuity. The drill programme is being conducted by Ox Drilling which also completed the initial drill programme undertaken last year. The drill programme started on 18 July and will take approximately 2-3 weeks to complete. Samples will be initially analysed on site using a portable X-Ray Fluorescence ("pXRF") analyser for copper and zinc. Selected mineralised intervals will also be submitted for external assaying at a certified laboratory for a suite of elements, including silver, copper, zinc, bismuth, antimony and gallium. The Project is under a technical cooperation agreement with First Quantum Minerals Limited ("FQM"), which allows Tertiary to benefit from FQM's historic exploration data in the area, as well as FQM's geological team's extensive experience and understanding of the area's geology. The agreement is non-binding to any further agreement and there are no commercial restrictions for Tertiary, nor does FQM have a right of first refusal over the project. At the end of the summer 2024, Tertiary completed an initial 25 AC drill programme (1,274m) to test parts of geochemical (copper-in-soil) anomalies at Targets A1 and C1. This limited and shallow drilling has indicated wide downhole intervals of largely coincidental copper, zinc and silver mineralisation at Target A1. Numerous other geochemical and/or geophysical targets (A2, B2, B2, B3, C2) are yet to be drill tested. Announcement • Jul 08
Tertiary Minerals plc Announces Details of the Upcoming Drill Programme At Target A1, Mushima North Project Tertiary Minerals plc announced details of the upcoming drill programme at Target A1, Mushima North Project ("Mushima North" or the "Project"). Highlights: Planned drilling programme of up to 1,500m Air Core/Reverse Circulation drilling at Target A1. Drilling to test the along strike continuation of the coincidental 1.3km by 0.3km silver- and zinc-in-soil anomaly within the broader, kilometre-scale copper-in-soil anomaly. Initial drilling of this target in late 2024 returned drill intersections including (downhole widths, true widths unknown): 57m at 25 g/t Ag, 0.20% Cu, 0.15% Zn from 14m downhole (24TMNAC-004). Including: 26m at 36 g/t Ag, 0.,20% Cu, 0.20% Zn from 45m downhole. Many of these holes ended in mineralisation suggesting further depth potential. The programme will test the full extent of this anomaly over an area of approximately 1.5km by 0.3km and with additional deeper holes to test the depth potential. Drilling Programme A programme of up to 1, 500m combined Air Core ("AC") and Reverse Circulation ("RC") is planned as a series of east-west drill lines spaced approximately 250m apart (north-south). Holes will be collared approximately 100m apart along the east-west lines and drilled to a nominal depth of approximately 75m. Deeper holes (using RC) will also be undertaken in key areas to further understand the potential continuation of mineralisation at depth. The drill programme at Target A1 is designed to: Test the silver- and part of the broader zinc-in-soil anomalies over approximately 1.6km of strike and up to 0.3 km width. Test the depth extension of mineralisation in key areas to a depth of up to 150m. Gain insights into the mineralisation styles and grade continuity. The drill programme is being conducted by Ox Drilling which also completed the initial drill programme undertaken last year. The drill programme is expected to commence in mid-July and will take approximately 2-3 weeks to complete. Samples will be initially analysed on site using a portable X-Ray Fluorescence ("pXRF") analyser for copper and zinc. Selected mineralised intervals will also be submitted for external assaying at a certified laboratory for a suite of elements, including silver, copper, zinc, bismuth, antimony and gallium. Target A1 is a large (3.1km by 1.7km) copper-in-soil anomalies with copper values up to 350ppm (via pXRF analyser) associated with a 1.7km by 0.5km zinc- and coincidental 1.3km By 0.3km silver-in-soil anomalies. The Project is under a technical cooperation agreement with First Quantum Minerals Limited ("FQM"), which allows Tertiary to benefit from FQM's historic exploration data in the area, as well as FQM's geological team's extensive experience and understanding of the area's geology. The agreement is non-binding to any further agreement and there are no commercial restrictions for Tertiary, nor does FQM have a right of first refusal over the project. Reported Earnings • Jul 02
First half 2025 earnings released: EPS: UK£0 (vs UK£0 in 1H 2024) First half 2025 results: EPS: UK£0 (in line with 1H 2024). Revenue: UK£100.8k (up 30% from 1H 2024). Net loss: UK£248.5k (loss narrowed 7.8% from 1H 2024). Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 41% per year, which means it is significantly lagging earnings. Announcement • Jun 19
Tertiary Minerals plc Provides Project Summary Highlighting Its Jacks Project Tertiary Minerals plc provided the following project summary highlighting its Jacks Project ("Jacks" or the "Project"), one of five prospective projects Tertiary currently holds within key locations in Zambia targeting copper and associated metals (silver, zinc, cobalt). Highlights: Targeting sedimentary copper within the Lower Roan Subgroup, south of the Central African Copperbelt, within an underexplored region. Acquisition of regional and local exploration datasets, including regional soil sampling by First Quantum Minerals and historic drilling of key copper-in-soil targets. Significant fold structure identified with several discrete copper-in-soil anomalies along fold limbs (approximately 18km strike length). The Jacks Project is located in an underexplored but highly prospective region to the southeast of the world-class Central African Copperbelt. Acquisition of historic regional and local datasets, including drilling, has enabled the project to be fast-tracked and initially de-risked. Geological map of the Jacks Project showing the locations of the priority targets along the large-scale Central African Copperbelt. The Project is held through Group company Tertiary Minerals (Zambia) Limited (which in turn is 96% owned by Tertiary Minerals plc) and local partner, Mwashia Resources Limited. The area was subject to further exploration in the 1990s by Caledonia Mining Corporation ("CMC") which conducted aeromagnetic surveys and the geochemical sampling (1000m by 100m grid) which identified the copper-in-soil anomaly commented upon above. Following the delineation of the prospective areas, CMC entered into a joint venture earn-in agreement with Cyprus AMAX Minerals ("Cy Cyprus"), a major US-based mineral exploration and mining company. The 1997 exploration programme included infill geochemical sampling, a ground-based magnetic survey, Induced Polarisation survey and a 19-hole Reverse Circulation ("RC") percussion drill programme (2,170m). A further programme of six diamond drill holes ("DD") totaling 1,378m was completed in 1998 to test the along strike and down dip extensions to the previously intersected mineralisation as well some of the soil anomalies. The historic drilling results suggest the presence of two separate zones of copper mineralisation within the fold hinge area from near surface and with significant depth potential. Shallow intersects include: 0.76% copper over 12m from 18m downhole (KJ13). 0.35% copper over 10m from 67.5m downhole (KJD5). 22JKDD04 was another step-out hole, drilled approximately 160m east of 22JKDD01 and 170m south of 22JKDD03. A broad mineralised zone was intersected: 0.8% copper over 14.0m from 7m downhole, including two higher grade intersections: o 1.7% copper over 2.0m grading from 27m downhole, and o 1.0% copper over 5.0m from 35.0m downhole. Summary of drill assay results from the initial Tertiary drilling programme (2022) at the fold hinge (Jacks Project). Note to Table 2: Calculated intersections (down hole, true width unknown) are weighted averages using a cut-off grade of 0.2% copper. Project Summary The Jacks Project is located In an underexploring but highly prospective region to the Southeast of the world-class Central Africa Copperbelt. Acquisition of historic Regional and local datasets, including drill, has enabled the project to been fast-tracked and initially De-risked. Geological map of the Jacks Project show the locations of the priority target along the large-scale fold of the large-scale fold of prospective Lower Roan Subgroup geology. Historic drilling, as well as recent drilling undertaken by Tertiary, confirms the potential of the Project to host both shallow, lower-grade and deeper, higher-grade copper mineralisation. Limited drilling by Tertiary has intersected copper mineralisation between approximately 25m and 100m vertical depth from surface. The Project Summary The Jacks Project (Licence 27069-HQ-LEL) is approximately 70.6km2% copper mineralisation is approximately 70.6km 2 in size and is approximately 70.6km and is approximately 70.6 km2% copper mineralisation.6km2km2.6km2 in size and is located within the Project to the Project to host both shallow-grade and is approximately 70.0km2% copper mineralisation of the Project to host both deep-grade and is located within the Project is located within the Project (LEL) is located within the Project (L) is located within the Company is approximately 70.6km3km2% copper mineralisation. 6km2 in size and is approximately 70km2km2% copper mineralisation and is approximately 70.6 kilometres and is approximately 70.6m. Announcement • Jun 07
Tertiary Minerals plc has completed a Follow-on Equity Offering in the amount of £0.35 million. Tertiary Minerals plc has completed a Follow-on Equity Offering in the amount of £0.35 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,083,333,334
Price\Range: £0.0003
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 83,333,333
Price\Range: £0.0003
Transaction Features: Subsequent Direct Listing Announcement • Apr 14
Tertiary Minerals plc Provides Update on the Mukai Copper Project, Zambia Tertiary Minerals plc provided the following update on the Mukai Copper Project ("Mukai" or the "Project"), Zambia. The Project is under agreement with First Quantum Minerals Limited ("FQM") which is managing the exploration on the Project during its due diligence period. The Project lies adjacent to FQM's Trident Project which includes both the Sentinel Copper and Enterprise Nickel Min es. Highlights: Completion of initial scout drilling programme of three diamond drill holes for a total length of approximately 554m. Near surface anomalous (>500 ppm) copper mineralisation intersected, including: 0.12% Cu over 3.8m from 1.6m downhole (TARDD0023). 0.17% Cu over 2m from 4m downhole (TardD0024). Near surface and thick intervals of anomalous (>500 ppm) nickel mineralization intersected, including: 558 ppm Ni over 63.1m from 10m downhole. Exploration programme/next steps currently under review. Announcement • Mar 31
Tertiary Minerals plc Provides Drilling Update, Konkola West Copper Project Tertiary Minerals plc provided the following update on the current drill programme being undertaken by a subsidiary of KoBold Metals ("KoBold") at its Konkola West Copper Project ("Konkola West"), Zambia. KoBold has the right to earn into the project by drilling two drill holes for a minimum of 2,000m. KoBold is targeting the potential continuations of mineralisation being mined at the world-class Musoshi, Lubambe and Konkola Mines, which had a pre-mining combined endowment of over 775Mt grading 2-3% copper. KoBold's Mingomba copper project is located approximately 5km to the northeast of the Project. Hole KWDD001 Drilling of hole KWDD001 has now been concluded after continued technical difficulties and limited advancement of the hole since the last update (20 February 2025) and having reached a down-hole depth of 2,711.1m. While the hole did not reach the targeted horizon (Ore Shale, Copperbelt Orebody Member), the geological data collected as part of the drilling has been instrumental in better understanding the previously unknown, geological architecture of the basin and has been used to update KoBold's proprietary geological models. As such, the hole has significant geological value and data generated from this hole will continue to be processed and analysed to inform future drilling at Konkola West. Two zones of low-grade copper sulphide mineralisation were intersected in this hole. The drill core from this entire hole is being analysed at an independent laboratory and any significant results will be released in due course. In addition, a wireline downhole geophysical survey has been completed collecting magnetic, induced polarisation, resistivity and gamma-ray data as well as mapping fracture density. KWDD001 is believed to be the deepest mineral exploration drill hole to ever be drilled in the Zambian Copperbelt and marks a significant milestone within the industry. Hole KWDD002 Despite stopping short of the target horizon in hole KWDD001, the results were sufficiently encouraging for KoBold to drill a second hole. Drilling of this hole (KWDD002) started on 26 March 2025. The location, orientation and expected length is based on KoBold's updated model for the basin, based on their extensive regional dataset and understanding, with data from KWDD001 being crucial to this. The expected hole depth is planned to approximately 2,000m. Konkola West Drill Programme Konkola West (Licence 27067-HQ-LEL) is located approximately 5 km to the SW of KoBold's Mingomb a deposit, which forms part of the Lubambe-Mingomba-Konkola copper deposits of the Zambian Copperbelt. The aim of the drill programme is to test the potentialcontinuations of mineralisation being mined and the World-Class Musoshi, Lubambe, and Konkola Mines (combined pre-mining endowment of over 775 millions grading 2-3% Copper). KoBold's MingOMa project, is reported by KoBold to be one of the larger undeveloped copper deposits in the world. KoBold is using its propriety AI-driven models of the regional geology to support its mineral exploration targeting. Earn-In Agreements The Earn-In Agreement is between Tertiary Minerals (Zambia) Limited, its local partner, Mwashia Resources Limited, and KoBold Metals. Under the initial Earn-in Agreement, KoBold is required to drill two holes and a minimum 2,000m of drilling within 14 months of signing the Earn-in Agreement. This period has now been extended by 4 months to allow the drill the second hole, which is expected to be approximately 2000m. In addition, a provision of the Earn-In Agreement has been made to ensure that KoBold's newly granted adjacent Large Exploration Licence, 38615-HQ-LEL, will also be granted adjacent Large Exploration Licence. Announcement • Mar 17
Tertiary Minerals plc Announces Additional Assay Results from Drilling At the Mushima North Project Tertiary Minerals plc announced additional assay results from drilling at the Mushima North Project further to its announcement of 20 January 2025. The results identify a further wide drill intercept of silver mineralisation associated with previously reported copper-zinc mineralisation. Highlights: Results now available from samples from part of hole 24TMNAC006P (20-56m), located 50m west of previously reported silver mineralised hole 24TMNAC004. 30 g/t silver, 0.16% copper and 0.34% zinc over 36m, from 20m down hole. Including: 54 g/t silver,0.21% copper and 0.33% zinc over 12m, from 31m downhole. Including: 1m grading 176 g/t, 0.38% Cu and 0.29% Zn silver from 32m. 34 g/t silver and 0.12% copper and 0.3% zinc over 4m, from 52m. Previously reported analyses for these holes were for copper and zinc and were based on field portable X-Ray Fluorescence (pXRF) analysis which is not a suitable method for silver analysis. Silver mineralisation is now intersected in two holes 50 m apart. However, laboratory assay results for silver (and confirmation for copper and zinc) are still awaited for parts of both holes in addition to the entire lengths of a further five holes along the same drill line. The drill line targets part of a silver in-soil geochemical anomaly that is approximately 1.4km long and up to 300m wide and coincident with a broader zinc and copper anomaly. Previously released pXRF results for copper and zinc indicates many of the holes ended in mineralisation. The Mushima North Copper Project (Licence 27068-HQ-LEL) is held through Group company Copernicus Minerals Limited ("Copernicus") which is 90% owned by Tertiary Minerals (Zambia) Limited and 10% by local partner, Mwashia Resources Limited. The Project lies 20km to the east of the Kalengwa copper mine in northwest Zambia, one of the highest-grade copper deposits ever to be mined in Zambia. In the 1970s, high-grade ore, in excess of 26% copper, was trucked for direct smelting at other mines in the Copperbelt. The Kalengwa mine is now being reopened and is expected to produce 15,000 tonnes of copper annually. The Project is under a technical cooperation agreement with First Quantum Minerals Limited ("FQM"), which allows Tertiary to benefit from FQM's historic exploration data in the area, as well as FQM's geological team's extensive experience and understanding of the area's geology. Announcement • Feb 27
Tertiary Minerals plc Provides Update on Brunton Pass Project – Drilling Results Further to its announcement dated 16 December 2024, the Tertiary Minerals plc announced the results of drilling from the Phase 1 Drill Programme at its 100% owned Brunton Pass Copper-Gold Project in Nevada, USA. Highlights: Four reverse circulation percussion drill holes completed for a total of 890m in first pass drill programme. All four holes intersected thick intervals containing anomalous copper values associated with fresh and oxidised pyrite and trace chalcopyrite. Cumulative drill thicknesses up to 210m grading 170ppm copper (Hole 24TBPRC002) with values up to 0.19% copper over 1.53m. Anomalous copper values extend to at least 212m vertical depth, 630m east-west and 560m north-south. Surface mercury and arsenic indicator anomalies persist at depth. Deeper diamond drilling is justified to test the core of the target Induced Polarisation ("IP") geophysical anomaly. Petrographic and additional geochemical analysis planned to assist future drill targeting. A map and two cross sections can be found at the end of this release illustrating the exploration results to date. The Brunton Pass Project is located in central Nevada, USA, 25km northeast of the high-sulphidation epithermal Paradise Peak gold deposit that produced over 1.6 million ounces of gold, over 44 million ounces of silver and at least 457 tons of mercury. The Project was acquired in 2021 after sampling of prospector small-scale surface workings revealed high copper values. Mineralisation at Brunton Pass occurs within a series of limestones, siltstones and sandstones of the Triassic-age Luning Formation that have been widely converted by thermal metamorphism and metasomatism to hornfels and calc-silicate skarn units. These altered rocks form a 1.8km x 0.75km, uplifted "window" (horst block) in fault contact within younger Tertiary-age volcanic rocks. Evidence for an underlying body intrusive is found in surface outcrops of granite/granodiorite and at least two phases of diorite intrusion. Soil sampling has delineated several copper-in-soil anomalies with individual grades of up to 953ppm copper. The largest of these anomalies in the southwest quadrant of the property has dimensions of 340m x 310m and they are mainly coincident with areas where rock grab samples contain percent-level copper values in small prospecting pits. In 2022, the Company excavated two trenches in the area, T7 and T8, which encountered low-level copper mineralisation at surface including 27.4m grading 0.1% copper. Further details can be found in the news release dated 16 December 2024. Drill holes 24TBPRC001 and 24TBPRC002were drilled to test for mineralisation below the main copper soil anomaly and trenches T7 and T8. Hole 24TBPRC001intersected three intervals of anomalous copper with a cumulative downhole thickness of 123.45m and a weighted average grade of 149ppm copper. Mineralisation is mainly oxidised, but in the lower part of the hole the iron-sulphide mineral pyrite occurs with trace chalcopyrite. Sporadic quartz, gypsum and quartz-calcite veins were also intersected. The main host to mineralisation in hole 24TBPRC001 is a biotite-rich rock which at surface has been mapped as a diorite intrusive but which may also be a metamorphosed sedimentary rock. Further mineralogical work is required to make a definitive determination. Hole 24TBPRC002was drilled approximately 265m east of, and directed towards, hole 24TBPRC001. It intersected a sequence of sandstones and limestones, mainly altered to hornfels and calc-silicate rock. It intersected two main zones with anomalous copper values having a cumulative downhole thickness of 210m and a weighted average grade of 170ppm copper. A 1.53m interval grading 0.19% copper was intersected from 59.71m downhole and the hole ended in mineralisation at 252.98m depth. Drill Holes 24TBPRC003 and 24TBPRC004were drilled some 630m apart and were designed to test a north-south striking IP geophysical (chargeability) anomaly that stretches over several hundred metres and which is coincident with a broad zone of mercury and arsenic anomalies in soils and trenches. Hole 24TBPRC003was anomalous in mercury throughout its 137m length averaging 9.25ppm, which is approximately 450 times background levels of 0.02ppm mercury. The rocks were variably altered with hematite and manganese oxides within a mixed sequence of hornfels, calc-silicate rock and limestone. The hole was also targeting altered rocks adjacent to a granodiorite dyke which contained high gold values but the hole stopped short of target. Hole 24TBPRC004, drilled some 560m south of hole 24TBPRC003, also intersected anomalous mercury, with anomalous arsenic and copper and a cumulative downhole intersection of 132.69m grading 130ppm copper including 103.64m grading 142ppm copper, 488ppm arsenic and 3.5ppm mercury. Disseminated pyrite was present through most of the drill hole. Drilling has confirmed that the copper anomalies seen in surface soil samples and trench samples persist at depth to at least the lowest level tested in the current drilling (212m below surface in hole 24TBPRC002) and in an area 560m east-west and 560m north-south. This is a large body of rock containing anomalous copper values and, on the eastern side, anomalous indicator metals, mercury and arsenic. The Company's working thesis is that this large area may represent the halo to a buried porphyry copper deposit and that deeper drilling is justified. Announcement • Feb 25
Tertiary Minerals plc Announces the Appointment of Richard Belcher as the Managing Director, Effective 7 March 2025 Tertiary Minerals plc announced the appointment of Dr. Richard Belcher as the new Managing Director of the Company. Dr. Belcher brings a wealth of knowledge and experience in the mineral resources sector and will commence his role with the Company on 7 March 2025, the day following the day of the Annual General Meeting. Dr. Belcher brings over 22 years post PhD geological experience working as a contractor and consulting geologist on a variety of commodities from early stage through to resource definition, with a strong emphasis on Africa and with junior explorers. Most recently he held the position of VP Exploration with ANS Exploration Corp. (a junior explorer with a focus on NE Africa and Arabia). He also held the position of Senior Consulting Geologist at Altus Strategies PLC, now Elemental Altus Royalties Corp. (a prospect generator and royalty company with a focus on West and East Africa). His extensive field experience includes significant work in Zambia and he was based in South Africa for over a decade. Dr. Belcher has a BSc Honours (First Class) in Mineral Exploration from Cardiff University and a PhD in Geology from Stellenbosch University, South Africa. More recently he was awarded an MSc Finance (with distinction) from Leicester University. He is a Fellow of the Society of Economic Geologists (SEG) and a Chartered (CGeol) Fellow of the Geological Society of London. The following information is disclosed pursuant to Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies in relation to Dr. Richard William Belcher, aged 48: Current Directorships/Partnerships: RWB Exploration Limited; Past Directorships/Partnerships (within 5 years): JDH Exploration Limited. Announcement • Feb 20
Tertiary Minerals plc Provides Update on Konkola West Copper Project Tertiary Minerals plc provided the following update on its Konkola West Copper Project in Zambia where KoBold Metals Company has the right to earn into Large Exploration Licence 27067-HQ-LEL. Details of the Earn-In Agreement were outlined in the Company's news release dated 19 December 2023. Drilling of hole KWDD001 has advanced past 2,600m down-hole depth and is now drilling ahead in the Kitwe Formation which forms the upper part of the Lower Roan Subgroup and which, at its base, is host to the Ore Shale (Copperbelt Orebody Member) of the Zambian Copperbelt. The drill hole is currently in the Shale with Grit unit of the Kitwe Formation, the base of which is typically between 25-225m above the Ore Shale in the Konkola area1. If conditions and equipment allow, the planned completion depth for KWDD001 is 3,000m. Drilling has taken substantially longer than expected and KWDD001 has drilled deeper than originally planned. This is due to folding, possibly along an extension of the major Fitwaola fault system. Drilling also becomes progressively slower with depth due to the incremental time required to recover drill core from the drill face. Second Drill Hole KoBold has advised the Company that it plans to start drilling a second deep hole at Konkola West shortly after the completion of the first hole. A number of possible locations have been selected where the Lower Roan is now projected to be closer to the surface with a final location decision contingent on further geological interpretation of hole KWDD001. Further Agreements Under the Earn-in Agreement, KoBold is required to complete two holes and a minimum 2,000m of drilling within 14 months of signing the Earn-in Agreement. In the circumstances, Tertiary Minerals (Zambia) Limited and its local partner, Mwashia Resources Limited, have agreed with KoBold to extend this 14-month period by four months to allow time to start and progress drilling of the second hole. The parties have also signed a second agreement to give effect to a provision of the Earn-In Agreement to ensure that KoBold's newly granted adjacent Large Exploration Licence, 38615-HQ-LEL, will be also be held under the terms of the Earn-in Agreement for the benefit of all the parties. Reported Earnings • Jan 29
Full year 2024 earnings released: UK£2.00 loss per share (vs UK£0 in FY 2023) Full year 2024 results: UK£2.00 loss per share (further deteriorated from UK£0 in FY 2023). Revenue: UK£162.7k (down 10% from FY 2023). Net loss: UK£550.9k (loss widened 1.8% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 161 percentage points per year, which is a significant difference in performance. Announcement • Jan 29
Tertiary Minerals plc, Annual General Meeting, Mar 06, 2025 Tertiary Minerals plc, Annual General Meeting, Mar 06, 2025. Announcement • Jan 21
Tertiary Minerals plc Announces New Silver Discovery at Mushima North Further to its announcement of 28 October 2024, and as a result of laboratory check analysis of drill samples, Tertiary Minerals plc announced the discovery of economically significant silver and cobalt mineralisation associated with previously announced copper-zinc mineralisation at its Mushima North Project in Zambia. Highlights: Four drill holes submitted for laboratory multi-element check analysis, three drill holes checked from Target A1 including: Hole 24TMN004 (Drill Line 1) - 59mgrading 25 grammes/tonne ("g/t") silver, 0.2% copper and 0.16% zinc from 10m to end of hole at 72m including: 26m grading 36g/t silver,0.20% copper and 0.20% zinc from 45-72m. Hole ended in mineralisation grading 49g/t silver, 0.24% copper and 0.15% zinc. Previously reported copper and zinc values confirmed by laboratory check analysis. Hole 24TMN024 (Drill Line 1): Significant cobalt associated with previously reported higher grade copper interval: 6m grading 0.08% cobalt, 0.58% copper from 47-53m. Entire hole, where check analyses are available, is anomalous in copper and cobalt: 74m grading 0.14% copper, 0.03% cobaltand 3g/t silver from 20m to 96m at end of hole. Hole also anomalous in nickel with best intersection of 4m grading 0.12% nickel, 0.09% cobalt, 0.18% copper and 5g/t silver from 42-46m. · Hole 24TMN016from Target C1 shows narrow intervals of low-grade gold mineralisation. · Silver-in-soil geochemical anomaly associated with Hole 24TMN004 evident in check soil analytical data - 1.3km long and open ended to the northeast and southwest. Repeat silver analysis on 14 check samples using a stronger acid digest method returned silver values 12% higher than those now being reported. Check Analysis of Drill Samples - New Results: Results are now available for five drill holes that were selected for check analysis. This included four holes from Target A1 (Hole Numbers 24TMN004, 6P, 11 and 24) and Hole TM24TMN16 from Target C1 (see accompanying map and drill section). Drill hole 24TMN006P was only analysed for gold. Check analysis for copper and zinc confirmed the previously reported results except for one interval for zinc in Hole 24TMN011 which requires further investigation (see accompanying table). Significant silver values were found throughout Hole 24TMN004 in broad association with copper and zinc whilst significantly anomalous cobalt and nickel and silver was found in hole 24TMN024 with the highest cobalt grades accompanying the highest copper grades. Target A1 was first defined by pXRF analysis of soil which defined a large copper-in-soil anomaly which was subsequently confirmed by laboratory check analysis of samples taken along three sample lines within the anomaly (see accompanying map). A review of the silver values in these check soil analyses has now revealed a silver-in-soil anomaly within the copper-in-soil anomaly that extends northeast-southwest for at least 1.3km across all of the three check lines. This silver anomaly is open-ended in both of these directions. The accompanying map and drill section illustrates that, of the drill holes selected for check analysis, only hole 24TMN004 was drilled within the silver-in-soil anomaly. However, The company anticipates that additional laboratory analysis of other drill holes on Line 1 that fall within the silver-in-soil anomaly may also reveal significant silver mineralisation. The map also illustrates that drill hole 24TMN024, whilst hitting a thick interval of lower grade silver, was likely drilled too far east, on the edge of the silver-in-soil anomaly and the current belief is that the two southerly drill lines (including Hole 24TMN011) were both drilled too far to the west to hit the main copper-zinc and silver targets. Check analysis of drill hole 24TMN016 at Target C1 area intersected two narrow intervals of anomalous gold in granite: 0.47g/t gold from 5-6m downhole and 0.25g/t gold from 22-23m and confirmed the previously reported narrow interval of copper mineralisation. As a further check on the silver values now being reported, fourteen samples were submitted for repeat analysis by a different laboratory method using a stronger acid digest for more complete dissolution of contained metals. The repeat analyses confirmed the silver discovery and returned 12% higher silver values on average. Announcement • Dec 17
Tertiary Minerals plc Successfully Completes its First Drilling Programme at the 100% Owned Brunton Pass Copper-Gold Project in Nevada, USA Tertiary Minerals plc announced that further to its announcement of 15 November 2024, the company announced that it has successfully completed its first drilling programme at the 100% owned Brunton Pass Copper-Gold Project in Nevada, USA. All four of the planned drill holes were completed and over 700 samples have been submitted to an independent laboratory, Paragon Geochemical in Reno, Nevada, for analysis for base and precious metals. Results are expected in January 2025 and will be reported as soon as possible thereafter. New Risk • Dec 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (74% increase in shares outstanding). Revenue is less than US$1m (UK£183k revenue, or US$231k). Market cap is less than US$10m (UK£2.46m market cap, or US$3.11m). Minor Risk Latest financial reports are more than 6 months old (reported March 2024 fiscal period end). Announcement • Nov 15
Tertiary Minerals plc Commences at its 100% Owned Brunton Pass Copper-Gold Project in Nevada, USA Tertiary Minerals plc advised that drilling has commenced at its 100% owned Brunton Pass Copper-Gold Project in Nevada, USA. Detailed Information: The Brunton Pass Project is located in central Nevada 25km northeast of the high-sulphidation epithermal Paradise Peak gold deposit that produced over 1.6 million ounces of gold and over 44 million ounces of silver and at least 457 tons of mercury. The Project was acquired in 2021 after sampling of prospector small-scale surface workings revealed high copper values. Mineralisation at Brunton Pass is closely associated with hornfels, skarn and high-sulphidation-style epithermal alteration of a mixed sequence of Triassic aged carbonate and clastic sediments that form a 1.8km x 0.75km, uplifted "window" (horst block) in fault contact within younger Tertiary-age volcanic rocks. Evidence for an underlying body intrusive is found in surface outcrops of granite/granodiorite and at least two phases of diorite intrusion. Copper Target Soil sampling has delineated several copper-in-soil anomalies with individual grades of up to 953ppm copper. The largest of these anomalies in the southwest quadrant of the property has dimensions of 340m x 310m and they are mainly coincident with areas where rock grab samples contain percent-level copper values in small prospecting pits. In 2002, two trenches were completed for a combined length of 386m to further evaluate the main anomaly and wide intervals of low-grade copper observed in trenches T7 and T8: · 27.4m grading 1,010ppm copper (0.1% Cu) in T7, open to the east. 77.7m grading 473ppm copper in T8, also open to the east. These wide low-grade copper intervals are a possible halo to more significant mineralisation and suggest the possible presence of a deeper porphyry copper target. Two reverse circulation drill holes of 350-400m each are planned to test this target. Gold-Silver Target During soil sampling two large mercury and arsenic in soil anomalies were also defined in the eastern half of the property in a north trending zone with values up to 52 ppm mercury with the largest of these extending over an area approximately 500m x 500m. These anomalies are centred on a north trending zone of structural dislocation with a strike length of at least 1.2km. Two trenches (T1 and T11) tested the north and south ends of this mercury-arsenic soil anomaly and intersected substantial widths of hydrothermally altered rock with approximately 1,000 times background content of the gold indicator elements, arsenic and mercury: · 9.1m grading 1,930ppm arsenic and 102ppm mercury in T1. · 32m grading 1,622ppm arsenic and 110ppm mercury T11. The argillic alteration evident in T1 and T11 is similar to that seen at the Paradise Peak Gold Mine (smectite+quartz+/-opal). Trench T2, located between T1 and T11, intersected 2.65g/t gold over 2.7m. In early 2024, an IP Survey and Resistivity geophysical survey identified a coherent electrical chargeability anomaly, typical of sulphide mineralisation prospective for copper and/or gold, extending over 700m through all IP survey lines. The chargeability anomaly is spatially related to the previously identified copper-mercury-arsenic soil anomalies, the surface alteration zone in trench T11 and the gold-bearing zone in trench T2. Resistivity variations are conformable with surface geology and help map out subsurface geology. The chargeability anomaly and associated geochemical anomalies are a high priority drill target for epithermal gold and/or porphyry copper mineralisation and two reverse circulation drill holes are planned to test this target. Announcement • Nov 04
Tertiary Minerals plc Commences Drilling At the Mukai Copper Project in Zambia Tertiary Minerals plc advised that First Quantum Minerals Limited ("First Quantum") has commenced drilling at the Mukai Copper Project in Zambia following the receipt of all necessary consents. The Company has received approval from the Department of Forestry to conduct further mineral exploration, including drilling, in the Licence area (the "Licence"). Consent has also been granted by the leadership of local tribal group, the Musele Royal Establishment ("Musele Chiefdom"), to conduct mineral exploration on the Licence. Phase 1 drill programme, now underway, will comprise up to 6 diamond drill holes, with drilling depths ranging between 350 and 400m. The drill programme will test beneath the large soil anomaly defined by Tertiary in 2023 which is contiguous with First Quantum's Tirosa Copper Prospect on the adjoining mining licence. Under the Company's agreement with First Quantum, First Quantum must define a minimum resource of 80,000 tonnes of copper before it can earn an interest in the Licence. The Licence lies adjacent to First Quantum's Trident Project which comprises various mining licences encompassing the producing Sentinel Copper Mine and the recently developed Enterprise Nickel Mine. The Sentinel processing plant has a processing capacity of 55 million tonnes of copper ore per year. The Licence renewal has been approved for an additional three years and is awaiting transfer to Copernicus Minerals Limited ("Copernicus"). Further details are given in the Company's news release of 6 June 2024. The Company's exploration at Mukai in 2023 resulted in the identification of a substantial copper-in-soil anomaly on the Licence. This soil anomaly occurs along strike from copper mineralisation that has been identified in past drill programmes at First Quantum's Tirosa Prospect, on its adjoining Trident Project area, which encompasses the Sentinel Copper and Enterprise Nickel mines. The Sentinel Mine was developed with a total investment of over USD 2.1 billion and is expected to produce around 235,000 tonnes of copper metal this year. The Enterprise Nickel mine is newly opened and expects to produce around 20,000 tonnes of nickel in 2024. Both deposits are sediment-hosted and occur in sedimentary basins formed on and around the Kabompo Dome. A similarly located basin hosts the Tirosa Prospect and continues into the Licence. As announced on 7 August 2024, Copernicus and First Quantum have signed a Binding Letter of Agreement ("BLA") allowing First Quantum to evaluate and earn an interest in the Licences by completing a minimum exploration expenditure of USD 1,500,000 during a 24-month due diligence period and by defining a minimum resource of 80, million tonnes of contained copper. In late August 2024, a series of meetings were held at the Department of Forestry's Solwezi District Office and the Lusaka headquarters to outline the proposed work programmes resulting in the submission of a formal application which has now been approved. In order to gain a Letter of Consent from the Musele Chiefdom, the Company met with Senior Chief Musele in September 2024 and as such were the first company to meet the Senior Chief Musele since the installation ceremony in July 2024. The Company hosted a community event where a presentation was made to the Musele Chiefdom to introduce the Company, the proposed exploration operations and address any concerns. A Letter of Consent has now been received from the Musele Chiefdom and, upon notification, First Quantum initiated drill preparation with the intention of completing a Phase 1 diamond drill programme. Phase 1 of the drill programme will comprise up to 6 diamond drilling holes to depths ranging between 350m and 400m on two fence lines. Drilling is now underway and will continue for so long as weather conditions permit following the onset of the wet season in Zambia. Announcement • Oct 16
Tertiary Minerals plc Completes Inaugural Drill Programme At Its Mushima North Copper Project in Zambia Tertiary Minerals plc advise that the Company's inaugural drill programme at its Mushima North Copper Project in Zambia has now been completed. Summary: Drilling aimed to test the A1 and C1 coincident copper, zinc and arsenic soil anomalies defined by the Company's soil sampling programmes completed in 2023. Twenty-five aircore/reverse circulation drillholes completed to a maximum depth of 112m. Three drill traverses completed at anomaly A1, one drill traverse at anomaly C1. Portable X-Ray Fluorescence ("pXRF) analysis of drill samples now being completed, together with QA/QC checks. Selected samples will also be sent to an independent laboratory for check analysis. pXRF analytical results will be released as soon as possible. A plan showing the location of Mushima North drill holes can be found at the end of this release. New Risk • Aug 29
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 85% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Shareholders have been substantially diluted in the past year (85% increase in shares outstanding). Revenue is less than US$1m (UK£183k revenue, or US$241k). Market cap is less than US$10m (UK£3.12m market cap, or US$4.11m). Announcement • Aug 29
Tertiary Minerals plc has completed a Follow-on Equity Offering in the amount of AUD 0.88 million. Tertiary Minerals plc has completed a Follow-on Equity Offering in the amount of AUD 0.88 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,100,000,000
Price\Range: AUD 0.0008
Security Features: Attached Warrants
Transaction Features: Subsequent Direct Listing Announcement • Jul 29
Tertiary Minerals plc Announces 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 Tertiary Minerals plc announced 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. 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 USD 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 Mineral JV. A sub-set of samples will be submitted for check laboratory based geochemical analysis. 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 USD 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. First pass soil samples were taken on a 300m by 300 m 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 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. Announcement • Jun 21
Tertiary Minerals plc Announces Drilling Update, Konkola West Copper Project Tertiary Minerals plc announced that the first hole at the Konkola West Copper Project, hole number KWDD001, was recently reported by KoBold Metals Company to be at a downhole depth of 1,341m and continuing in the hanging wall sequence above the target horizon. More recently, drilling progress has been a little slower than anticipated due to use of a new drill rig and variable ground conditions. Drilling will continue until the target horizon is reached. No further announcement will be made until this first hole is completed but planning for a second drill hole is already underway. New Risk • Jun 04
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -UK£513k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£513k free cash flow). Share price has been highly volatile over the past 3 months (14% average weekly change). Revenue is less than US$1m (UK£183k revenue, or US$233k). Market cap is less than US$10m (UK£3.22m market cap, or US$4.11m). Minor Risk Shareholders have been diluted in the past year (30% increase in shares outstanding). Announcement • May 22
Tertiary Minerals plc Provides the Drilling Update for the Konkola West Copper Project in Zambia Tertiary Minerals plc provided the drilling update for the Konkola West Copper Project in Zambia. The first hole at the Konkola West Copper Project, hole number KWDD001, being drilled as part of an earn-in agreement with a subsidiary of KoBold Metals Company ("KoBold") and local partner Mwashia Resources Ltd, was recently reported by KoBold to be at a depth of 1,023m down-hole and continuing. The target of this drillhole is the ore-shale which hosts the copper mineralisation at the Konkola-Lubambe copper mines and the nearby Mingomba deposit. KoBold has reported that a number of expected key marker horizons have been intersected in the hole that are consistently seen in the stratigraphy above the ore-shale in these deposits. Given the known lateral variations in the thickness of individual stratigraphic units in this area it is not yet possible to predict with any certainty the depth at which the ore-shale might be encountered, though the Company estimates that drilling of KWDD001 will continue until mid-June 2024 with assay results to follow after that. However, drilling could take longer, or be completed sooner, depending on the thickness of the stratigraphic units yet to be drilled, as well as drilling conditions. Announcement • May 10
Tertiary Minerals plc Announces the Approval of the Environmental Project Brief for Its Mupala Copper Project Tertiary Minerals plc announced the approval of the Environmental Project Brief ("EPB") for its Mupala Copper Project (32139-HQ-LEL or the "Licence") which now clears the way for the start of mineral exploration activities at Mupala. The Mupala Copper Project is located 12 km west of the Company's Mukai Project and adjacent to the Anglo American/Arc Minerals joint venture project where Anglo American has a right to earn a 70% interest through expenditure of $88.5 million. Located in the prospective Domes Region of northwest Zambia on the west side of the Kabompo Dome which is host to multiple producing copper and nickel mines including First Quantum Mineral's Sentinel mining complex which adjoins the Company's Mukai Project. Letter of Consent received from Sailunga Chiefdom during tribal engagement conducted in February 2024 and EPB approval now received from the Zambia Environmental Management Agency. Recently acquired historical data has identified multiple copper-in-soil anomalies within the Licence. Work programmes expected to commence next month and will include soil sampling across the Licence to verify the identified soil anomalies and assist with surface regolith mapping. Announcement • May 03
Tertiary Minerals plc Announces Exploration Update - Brunton Pass Project, Nevada, USA Tertiary Minerals plc announced positive results from a recently completed geophysical survey at its Brunton Pass Copper-Gold Project in Nevada, USA. Highlights: Induced Polarisation ("IP") and Resistivity geophysical survey completed over 7.2 line-km on four lines over total target strike length of 700m; Coherent electrical chargeability anomaly, typical of sulphide mineralisation prospective for copper and/or gold, extends through all IP survey lines; Chargeability anomaly is spatially related to previously identified: copper-mercury-arsenic soil anomalies; a surface alteration zone in trench T11 where pathfinder elements arsenic and mercury are at 1,000 times background; and a gold-bearing zone in trench T2 where sampling yielded values up to 2.7g/t gold. Resistivity variations are conformable with surface geology and help map out sub-surface geology; Chargeability anomaly is a high priority drill target for epithermal gold and/or porphyry copper mineralisation and Drilling to be scheduled when budgets allow and to fit in with Company's exciting exploration plans in Zambia. Announcement • Feb 13
Tertiary Minerals plc has completed a Follow-on Equity Offering in the amount of £0.375 million. Tertiary Minerals plc has completed a Follow-on Equity Offering in the amount of £0.375 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 468,750,000
Price\Range: £0.0008
Transaction Features: Subsequent Direct Listing Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 1 highly experienced director. Independent Non-Executive Director Mike Armitage was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Jan 16
Tertiary Minerals plc, Annual General Meeting, Feb 14, 2024 Tertiary Minerals plc, Annual General Meeting, Feb 14, 2024. Agenda: To consider re-election of Donald McAlister; to consider to allow for the issue of new shares; and to allows the Company to issue shares for cash other than strictly pro-rata to existing shareholders. Reported Earnings • Jan 15
Full year 2023 earnings released: EPS: UK£0 (vs UK£0.001 loss in FY 2022) Full year 2023 results: EPS: UK£0 (improved from UK£0.001 loss in FY 2022). Revenue: UK£181.4k (up 6.1% from FY 2022). Net loss: UK£541.3k (loss narrowed 54% from FY 2022). Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. New Risk • Dec 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Revenue is less than US$1m (UK£157k revenue, or US$199k). Market cap is less than US$10m (UK£2.74m market cap, or US$3.47m). Minor Risks Latest financial reports are more than 6 months old (reported March 2023 fiscal period end). Shareholders have been diluted in the past year (37% increase in shares outstanding). Announcement • Nov 03
Tertiary Minerals plc has completed a Follow-on Equity Offering in the amount of £0.15 million. Tertiary Minerals plc has completed a Follow-on Equity Offering in the amount of £0.15 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 125,000,000
Price\Range: £0.0012
Transaction Features: Subsequent Direct Listing Announcement • Nov 02
Tertiary Minerals plc has filed a Follow-on Equity Offering in the amount of £15 million. Tertiary Minerals plc has filed a Follow-on Equity Offering in the amount of £15 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 125,000,000
Price\Range: £0.12 Announcement • Oct 16
Tertiary Minerals plc Announces New Soil Sampling Results - Mushima North, Zambia Following the recent release of soil sampling results from the C1 target area at its Mushima North Copper Project in Zambia, Tertiary Minerals plc reported further positive portable X-Ray fluorescence ("pXRF") analytical results from targets A1 and A2. Key Points: Areas A1 & A2 are targets for traditional Copperbelt sediment-hosted mineralisation where known deposits in Zambia and the DRC range in size up to supergiant size (>25mt contained copper). 248 soil samples were initially collected on a 200m x 200m spaced grid at the A1 and A2 targets. A further 311 samples were taken as an infill of the A1 grid at 100m x100m spacing and at 50m spacing along three east-west lines. pXRF analytical results at target A1 have outlined a significant open-ended copper anomaly with soil samples above 80ppm covering an area of 3 km long by up to 1.5 km wide, peaking at 280ppm copper. A high-grade area within the A1 copper-in-soil anomaly with values above 200ppm and averaging 231ppm copper has dimensions of 400m x 150m. pXRF results at target A2 show very high copper values, up to 1,239ppm copper in organic-rich samples from the perimeter of a marsh (dambo). The copper in this hydromorphic anomaly is likely transported and may be linked to the source of the A1 copper-in-soil anomaly. A new copper prospect was discovered during field evaluation of a historic electromagnetic target to the west of target A1. Values up to 0.43% (4,300ppm) copper were returned from average pXRF analysis of surface rocks showing visible oxide copper mineralisation. The Mushima North Copper Project comprises Exploration Licence 27068-HQ-LEL. It covers 701 km2 and is located in Zambia's Northwest Province. Tertiary Minerals plc's 96% owned subsidiary, Tertiary Minerals (Zambia) Limited, is currently earning up to a 90% interest in the Project from local partner Mwashia Resources Limited. Mushima North is one of five projects in Zambia where Tertiary is exploring for copper and one of two projects which benefit from the Company's technical cooperation and data sharing agreement with leading copper producer First Quantum Minerals. The Project lies 20 km to the east of the Kalengwa copper mine (past production 4 million tons grading 5.2% Cu and 40 g/t Ag and pre-mining reserve of 600,000 tons grading 16% copper) believed to be one of the highest-grade copper deposits ever to be mined in Zambia. In the 1970s high grade ore in excess of 26% copper, making up approximately 20% of the orebody, was trucked for direct smelting at other mines in the Copperbelt. Kalengwa was discovered by drill testing a coincident copper-in-soil anomaly and gravity anomaly and has characteristics of the Iron-Oxide-Copper-Gold ("IOCG") class of deposits. FQM has provided Tertiary with an extensive exploration database for Mushima North which includes airborne magnetic and electromagnetic geophysical data, as well as 500m spaced reconnaissance soil sample analytical results. Additional historical data for the area was made available by JAW Consulting LLC of Golden, Colorado which was commissioned by the Company to compile historical data and provide a detailed interpretation and targeting report. The JAW targeting report has drawn on historical exploration from the 1970s onwards by Roan Consolidated Mines, African Minerals, Zamanglo Prospecting Ltd. and BHP Billiton. The latter was exploring for IOCG deposits (a class of mineral deposit that includes some of the largest in the world, including Olympic Dam in South Australia). BHP planned two holes to test for IOCG mineralisation at target C1 but terminated all exploration in Zambia in 2012 without drilling the planned holes. Further details of the targets generated by this report can be found in the Company's news release of 1 June 2023. Targets A1 and A2 were identified from wide spaced reconnaissance soil sampling carried out by FQM. In September 2023, the Company contracted Geo-Junction Consulting Limited to perform a soil sampling programme at Mushima North to cover the C1, A1 and A2 targets. Positive results from target C1 were released on 5 October 2023. This release details the pXRF analytical results from targets A1 and A2. A total of 184 samples were collected on or around target A1 with a sample spacing of 200m. Soil samples were collected from the B-horizon1, dried and sieved to -180 micron. The sieved soil samples were placed into a sample cup and analysed using a pXRF instrument. Based on preliminary field pXRF analysis infill sampling was then carried out on 100mx 100m spacing with three 400m spaced lines sampled at 50m spacing. pXRF results from target A1 indicate a broad northeast striking copper-in-soil anomaly which, at a 80ppm copper cut off, covers an area approximately 3km long by up to 1.5 km wide. Within this area soil samples average 148ppm and peak at 280ppm copper. The A1 soil anomaly has a high-grade core at its north end where all soil values are in excess of 200pppm copper over an area 400m x 150m and average 231ppm copper. pXRF results from target A2 show very high copper-in-soil values of up to 1,239ppm. However, the high values are confined to organic rich sediments at the edge of a dambo (an area of shallow wetland). It is most likely that copper in these sediments is a result of hydromorphic concentration of copper in groundwater sourced from a copper-rich area, possibly the sources of the A1 copper anomaly some 3km distant. The A1 and A2 copper-in-soil anomalies have a favorable structural setting for mineralisation and the A1 anomaly is a further high priority for follow up drilling. During the field work at targets A1 and A2, samples containing visible spotty copper minerals malachite and chrysocolla were found when field checking an area 2 km west of target A1 where an electrical conductor had been identified by a previous explorer in an area underlain by iron-rich conglomerates. These conglomerates stretch over a 6 km strike length and are coincident with a low-level gravity anomaly. Surface samples contained up to 0.43% copper (average of three pXRF readings per sample). Soil samples around this new occurrence were not anomalous but the new find warrants further follow-up mapping and sampling. Announcement • Oct 07
Tertiary Minerals plc Announces First Soil Sampling Results from Mushima North Copper Project, Zambia Tertiary Minerals plc announced positive follow-up results from portable XRF ("pXRF") analysis of soil samples at the C1 target area at its Mushima North Copper Project in Zambia, one of a number of targets covered in a recent soil sampling campaign. Key Points: Target C1 is permissive for Iron-Oxide-Copper-Gold ("IOCG"1) style and traditional Copperbelt sediment-hosted mineralisation. Includes a lone 1970s drill hole, RKN800, which, in resampling by Tertiary, contains 33m grading 0.24% copper from 122m to the end of hole in association with highly anomalous arsenic. 572 soil samples collected on 200m x 200m grid have defined a significant open-ended copper anomaly above 60ppm over 4km x 1.25km, with peak value of 211ppm copper proximal to RKN800. The highest copper-in-soil values are coincident with highest arsenic values in pXRF soil results; consistent with strongly anomalous arsenic in hole RKN800. A subset of samples will now be submitted for laboratory-based check analysis. pXRF results from additional target areas A1 and A2 are awaited and expected shortly. Announcement • Sep 13
Tertiary Minerals plc Announces Provisional Soil Sampling Results Mukai Copper Project, Zambia Tertiary Minerals plc announced 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"). 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. The Mukai Copper Project comprises Exploration Licence 27066-HQ-LEL which covers 55.4 km2 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. 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. 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 notes2 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 data3 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. Announcement • Aug 10
Tertiary Minerals plc Provides Exploration Update Following the receipt of forest permits announced on 31 July 2023, Tertiary Minerals plc announced the start of soil sampling and to provide the following update on its Zambian copper exploration projects. Konkola West Project: Interpretation of airborne geophysical data provided by KoBold Metals has now identified areas in the north and northwest of the licence where the target Lower Roan formation - the main host to copper mineralisation on the Zambian Copperbelt - may be shallower and less steeply dipping than on the eastern side of the licence. Soil sampling is now underway to explore higher up in the sequence with approximately 260 soil samples due to be collected over the next few days. Soil samples will be analysed in the field using a portable XRF ("pXRF") analyser and follow up infill sampling will be carried out as appropriate. Konkola West lies immediately west of the Konkola-Lubambe-Musoshi copper mining licences and potentially contains downdip extensions of the laterally continuous Lower Roan ore shale horizon on the east side of the licence. Mukai Project: Soil sampling will commence at Mukai immediately after completion of work at Konkola West. Mukai adjoins First Quantum Minerals' ("FQM") Trident Project licences which include the large Sentinel copper mine and the recently opened Enterprise nickel mine. Approximately 310 soil samples will be collected on a 300m x 100m grid with additional infill sampling to test a historic soil anomaly in favourable stratigraphy along strike of FQM's Tirosa Prospect where FQM has drilled up to its licence boundary with Mukai. Mushima North Project: Mushima North is located east of the high grade Kalengwa Copper Mine and numerous targets have been identified for both iron-oxide-copper-gold ("IOCG") mineralisation and conventional Copperbelt style mineralisation. Soil sampling at Mushima North is currently scheduled to follow on from that at Mukai. Approximately 1,150 samples will be collected on 200 x 200m grids in three main target areas. Lubuila Project: Further to the announcement of 17 May 2023 the Company has now completed check analysis of soil samples collected earlier in the field season at Lubuila as well as an evaluation of multi-element geochemistry.Copper results have confirmed the previously reported anomalous copper results from Area C. However, the interpretation of multi-element analytical results suggests that the anomalous results are likely the result of lateritic enrichment rather than indicative of significant in-situ copper mineralisation. Announcement • Jun 07
Tertiary Minerals plc Provides Exploration Update Tertiary Minerals plc announced that, via its local partner, Mwashia Resources, it has been provided with extensive geophysical exploration data for its Konkola West copper exploration project in Zambia by KoBold Metals. KoBold Metals, whose shareholders include Breakthrough Energy Ventures, a climate and technology fund founded by Microsoft's Bill Gates, and backed by Amazon's Jeff Bezos and Virgin's Sir Richard Branson, and mining giant BHP, is investing USD 150 million into the evaluation of the Mingomba Copper Deposit (Lubambe Extension Project) on the mining licence adjoining the Company's Konkola West exploration licence. The data now provided comprises airborne gravity, magnetic and radiometric data for the entire 72 sq.km. licence area and was collected by KoBold in 2021. This data set was collected as part of a wider regional airborne geophysical survey incorporating Konkola West and targeting down-dip and along-strike extensions of the contiguous Musoshi-Lubambe-Mingomba-Konkola copper deposits which host the Musoshi Mine in the Democratic Republic of the Congo and the Lubambe and Konkola mines in Zambia. Together these deposits define a continuous zone of mineralisation over 15km long with a pre-mining endowment of over 775 million tons grading 2-3% copper. Konkola West is located approximately 2,000 metres southwest of the Mingomba deposit which currently has a resource of 250 million tonnes with a mean grade of 3.8% copper. Announcement • Jun 01
Tertiary Minerals plc Releases Separate Project Focus Presentation for Its Mushima North Project in Zambia Tertiary Minerals plc announced that further to the Company's announcement of 28 April 2023, advising of favourable copper analytical results from sampling of core from historic drill hole RKN800, the Company is now releasing a separate "Project Focus" presentation for its Mushima North Project in Zambia. Mushima North is one of five projects in Zambia where Tertiary is exploring for copper, and one of two projects which benefit from the technical cooperation and data sharing agreement with leading copper producer First Quantum Minerals ("FQM"). The Project lies to the east of the high grade Kalengwa mine (past production 4 million tons grading 5.2% Cu and 40 g/t Ag and pre-mining reserve of 600,000 tons grading 16% copper) which was discovered by drill testing a coincident copper soil anomaly and gravity anomaly. FQM has provided its extensive database for Mushima North which includes airborne magnetic, electromagnetic and radiometric geophysical data as well as 500m spaced reconnaissance soil sample analytical results. Additional historical data for the area was made available by JAW Consulting LLC ("JAW") of Golden, Colorado which was commissioned by the Company to compile historical data and provide a detailed interpretation and targeting report. The JAW targeting report has drawn on historical exploration from the 1970s onwards by Roan Consolidated Mines, African Minerals, Zamanglo Prospecting Ltd. and BHP Billiton. The latter was exploring for iron-oxide-copper-gold ("IOCG") deposits, a class of mineral deposit that includes some of the largest in the world, including Olympic Dam in South Australia. The two highest priority targets are: O Target C1 - A prominent gravity high defined by BHP Billiton's Falcon airborne gravity survey with a coincident copper soil anomaly. The wide, low-grade, intersection of copper mineralisation recently announced from resampling core from drill hole RKN800 sits on the margin of the gravity anomaly making this an exciting target for follow up. Drill hole RKN800 pre-dates BHP Billiton's gravity survey. The C1 gravity anomaly was designated as an IOCG drill target by BHP Billiton, but never tested. Target A1 -A 1.7km long copper soil anomaly with values up to 350ppm copper (in portable x-ray fluorescence analysis) defined by 500m spaced samples and supported by coincident arsenic and zinc anomalies. This is a target for more conventional Copperbelt style mineralisation. Announcement • May 18
Tertiary Minerals plc Announces the Completion of Its Recently Announced Soil Sampling Programme At the Lubuila Copper Project Tertiary Minerals plc announced the completion of its recently announced soil sampling programme at the Lubuila Copper Project. Highlights - Lubuila Copper Project: Planned soil sampling programme completed inclusive of additional follow-up sampling based on in-field portable X-Ray Fluorescence (pXRF1) analytical results. 425 soil samples collected across three separate grids targeting two untested areas of interpreted Lower Roan Group sediments (Areas A and B) and a historical copper-in-soil anomaly at Area C in Upper Roan Group sediments. Preliminary results indicate a large open-ended copper-in-soil anomaly defined over an area of approximately 1,000m x 680m at Area C with a peak copper value of 306 ppm and an average value of 125ppm Cu. Sample subset to be sent for traditional wet geochemical ICP analysis for data validation and interpretation. Announcement • Jan 18
Tertiary Minerals plc Announces Laboratory Check Analytical Results on Soil Samples from the Jacks Copper Project in Zambia Tertiary Minerals plc announced that laboratory check analytical results on soil samples from the Jacks Copper Project in Zambia have confirmed and enhanced the provisional results previously reported based on portable XRF analyses taken in the field. Key Points: Laboratory check multielement analytical results now received for 107 soil samples from 4 sample grids. Laboratory results show excellent correlation with previously reported field pXRF results. New scandium analyses (not available with pXRF analysis) allows evaluation of key copper:scandium ratios. High Cu:Sc ratios are considered indicative of hydrothermal copper sulphide mineralisation elsewhere in Zambia. The high Cu:Sc ratios obtained from the soil samples taken over copper sulphide mineralisation intersected in Company's 2022 drill programme at Area D validate the application of the Cu:Sc ratio and both enhance and extend the Area D soil anomaly beyond the area drilled. Laboratory analyses for 27 contiguous soil samples along a check profile in Area C exhibit high Cu:Sc ratios for a strike length of approximately 1 km and make Area C another priority for drill testing. Reported Earnings • Dec 12
Full year 2022 earnings released: UK£0.001 loss per share (vs UK£0 in FY 2021) Full year 2022 results: UK£0.001 loss per share (further deteriorated from UK£0 in FY 2021). Revenue: UK£171.1k (up 3.6% from FY 2021). Net loss: UK£1.18m (loss widened 189% from FY 2021). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Dec 12
Tertiary Minerals plc, Annual General Meeting, Feb 16, 2023 Tertiary Minerals plc, Annual General Meeting, Feb 16, 2023, at 10:00 Coordinated Universal Time. Agenda: To reappoint auditors. Announcement • Nov 08
Tertiary Minerals plc Announces Provisional Results from Its Detailed Soil Sampling Programme At the Jacks Copper Project in Zambia Tertiary Minerals plc announced provisional results from its detailed soil sampling programme at the Jacks Copper Project ("Jacks") in Zambia and the definition of multiple copper soil anomalies in different areas of the Exploration Licence. Highlights: Soil sampling programme completed on schedule and on budget. 1,807 samples collected on a 200m x 40m spacing over 4 separate grids. pXRF elemental analysis of samples in the field gave real time data, defined soil anomalies and allowed for immediate follow up sampling. Follow up sampling was carried out on three of the four grids at 100m x 40m spacing. Multiple soil anomalies were defined with a peak value of 535ppm copper and with sufficient ground control to allow for drill testing. Results compare favourably with soil anomalies in the vicinity of various ore zones at current and past producing mines on the Copperbelt. Results from pXRF analysis are regarded as provisional and check samples are now being sent to South African laboratory for traditional wet chemical analysis. Announcement • Nov 01
Tertiary Minerals plc Announces Exploration Update – Brunton Pass Project, Nevada Tertiary Minerals plc is pleased to provide the following update on its summer exploration campaign at the Brunton Pass Copper-Gold Project in Nevada, USA. The programme included trenching, sampling, geochemical analysis, petrological evaluation and field follow up. Six trenches (T1, T2, T7, T8, T10 and T11) were completed for a combined length of 386m to further evaluate previously reported copper, mercury and arsenic anomalies in soil and surface rock chip samples. Six trenches (T1, T2, T7, T8, T10 and T11) were completed for a combined length of 386m to further evaluate previously reported copper, mercury and arsenic anomalies in soil and surface rock chip samples. Wide intervals of low-grade copper observed in trenches T7 and T8: 27.4m grading 1,010ppm copper (0.1% Cu) in T7, open to the east. 77.7m grading 473ppm copper in T8 open to the east. Petrological evaluation has confirmed the copper is associated with widespread garnet-pyroxene skarn alteration adjacent to diorite intrusives. These wide low-grade copper intervals are a possible halo to more significant mineralisation and suggest the possible presence of a deeper porphyry copper target. Two trenches (T1 & T11) testing the north and south ends of a 1.2km long zone of mercury-arsenic soil anomalies intersected substantial widths of hydrothermally altered rock with approximately 1,000 times background content of the gold indicator elements, arsenic and mercury: 9.1m grading 1,930ppm arsenic and 102 ppm mercury in T1, 32m grading 1,622ppm arsenic and 110ppm mercury T11. The occurrence of substantial widths of clay altered rock with up to 1,000x background values for mercury and antimony at two locations 900m apart and with gold values up to 2.65g/t gold suggests these trenches may be in the upper levels of a high sulphidation epithermal gold deposit. Similar deposits occur in the area including the Paradise Peak deposit, 25km to the southeast, which produced over 1.6 million ounces of gold and over 44 million ounces of silver before closing in 1993. This epithermal alteration is superimposed on a large area of skarn alteration prospective for copper and may also suggest the presence of a larger porphyry copper target nearby. The Brunton Pass Project is located in central Nevada and was acquired in 2021 after sampling of prospector small-scale surface workings revealed high copper values. Reconnaissance rock chip sampling and mapping were subsequently carried out throughout the claim block returning values up to 6.84% copper and 1.75 g/t gold in separate samples as well as anomalous silver values. A drone magnetic and photogrammetric survey was also carried out in 2021 and the data was subsequently processed using magnetic vector inversion modelling. Mineralisation at Brunton Pass is closely associated with hornfels and skarn alteration of a mixed sequence of Triassic aged carbonate and clastic sediments that form a 1.8km x 0.75km, uplifted "window" (horst block) in fault contact within younger Tertiary-age volcanic rocks. The magnetic inversion model suggests that the Triassic sediments may be underlain at shallow depth by a large intrusive body that could be the source of the alteration and mineralisation. Evidence for this underlying body is found in surface outcrops of granite/granodiorite and at least two phases of diorite intrusion. Following initial prospecting a total of 485 soil samples were collected at 50m spacing on lines 100m apart over the main window and on a 100m by 100m offset grid over the remainder of the project area. Announcement • Sep 28
Tertiary Minerals plc Announces the Start of Detailed Soil Sampling Programme At the Jacks Copper Project in Zambia Tertiary Minerals plc announced the start of a detailed soil sampling programme at the Jacks Copper Project in Zambia, where Tertiary has now earned a 90% joint venture interest from local Company Mwashia Resources Ltd. Detailed soil sampling planned for four separate areas to include: A 5.3 sq.km. area surrounding the copper mineralisation recently intersected in drilling at the Jacks Copper Prospect (announced 29 June 2022). Infill sampling in key areas of a 15km long soil anomaly defined by Cyprus Amax. Infill sampling of Copper:Scandium soil anomalies in two areas defined in wide-spaced soil sampling by First Quantum Minerals. Tribal & Stakeholder engagement successfully completed. Up to approx. 1,600 samples to be collected on a 200m x 40m grid with initial field analysis of samples using portable XRF analyser ("pXRF") delivering results in real time. Announcement • Jul 15
Tertiary Minerals plc Provides Updates on its Brunton Pass & Pyramid Projects in Nevada, USA Tertiary Minerals plc provided the following updates on its Brunton Pass & Pyramid Projects in Nevada, USA. 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. Announcement • Jun 29
Tertiary Minerals plc Announces Positive Drilling Results from Jacks Project Tertiary Minerals plc announced that the Company has received positive laboratory assay results from its first drill programme at the Jacks Copper Project in Zambia, where it is earning a 90% joint venture interest. Significant copper mineralisation intersected in all four diamond drillholes: 22JKDD01: 13.5m grading 0.9% copper from 77.5m downhole, including 3.0m grading 1.7% copper from 79.5m, and 3.5m grading 1.2% copper from 87.0m; 22JKDD02: 7.0m grading 0.6% copper from 54.0m, and 3.0m grading 0.8% copper from 191.0m; 22JKDD03: 6.0m grading 1.8% copper from 105.0m, including 4.0m grading 2.4% copper from 106.0m; 22JKDD04: 14.0m grading 0.8% copper from 27.0m, including 2.0m grading 1.7% copper from 27.0m and 5.0m grading 1.0% copper from 35.0m. Copper mineralisation has now been intersected over a strike length of 350m and remains open along strike and at depth. Planning is now underway for further evaluation of the historical copper soil anomaly that extends over a strike length of c.16km within the licence area. Tertiary has given notice to joint venture partner Mwashia Resources Ltd. ("Mwashia") that it has now earned a 51% interest in the Jacks Project licence, and has duly exercised its option to continue earning up to a 90% joint venture interest. Jacks Project is one of five licences areas in Zambia where Tertiary has the right to earn a 90% interest from Mwashia. Announcement • Jun 16
Tertiary Minerals plc Provides Exploration Update Jacks Copper Project Tertiary Minerals plc announced that the Company has completed its first drill programme at the Jacks Copper Project (Jacks) in Zambia. Jacks lies within exploration licence 27069-HQ-LEL, held by local partner Mwashia Resources Limited (Mwashia). Tertiary has an exclusive option to earn up to a 90% joint venture interest in the licence. Upon entering into its agreement with Mwashia, Tertiary obtained all available historical exploration data and performed a spatially integrated data review and constructed a preliminary geological model. This suggested that the Jack's Project area presented an attractive drill target where historical drilling intersected significant copper mineralisation and which the Company believes justified follow-up exploration. The historical data had limitations on the positional accuracy of historic drill holes and so to assist with drill targeting the Company conducted field geochemical analysis of soils using a pXRF analyser along and between the profiles of historical drilling. Several strong copper anomalies were identified which, when correlated with historical soil geochemistry, allowed the interpreted geological model to be spatially refined. In May 2022, Tertiary contracted Ox Drilling to conduct a diamond drilling programme with geological supervision and drill management performed by GeoQuest Limited. Four holes were completed on two traverses spaced approximately 150m apart for a total of 746m of drilling. During the drill programme core orientation was carried out together with preliminary analysis using portable pXRF to provide real-time interpretation of drill intersections and facilitate the positioning of subsequent holes. All drillhole collars were surveyed via GPS and downhole surveys were completed prior to plugging and marking drill holes in the field. Systematic drill core analysis using the pXRF has indicated that all four holes intersected copper mineralisation. Whilst pXRF analyses are a good guide to the occurrence of mineralisation, the pXRF results now need to be confirmed and quantified by follow up laboratory based analysis. Consequently 186 samples were cut from the drill core on-site and, along with internal QA/QC samples, were delivered to SGS Laboratories in Kalulushi for analysis. The Company expects the analytical results to be available within a few weeks . Announcement • Jun 15
Tertiary Minerals plc Announces Resignation of Patrick Cullen as Managing Director, Effective June 20, 2022 Tertiary Minerals plc announced that it has received and accepted a letter of resignation from its Managing Director, Mr. Patrick Cullen, effective 20 June 2022. Reported Earnings • May 27
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (up UK£223.7k from 1H 2021). Profit margin: (up from net loss in 1H 2021). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • May 17
Tertiary Minerals plc Announces Exploration Update At Jacks Copper Project Tertiary Minerals plc announced that has commenced its first drill programme at the Jacks Copper Project ("Jacks") in Zambia. Jacks lies within exploration licence 27069-HQ-LEL, held by local partner Mwashia Resources Limited. Tertiary has an exclusive option to earn up to a 90% joint venture interest in the licence. Visual observations of core from the first drill hole 22JKDD01 indicate the presence of copper mineralisation which has been confirmed by portable XRF measurements at site. Chrysocolla and malachite occur as veins and in fractures and as disseminations over several metres around 90 metres downhole depth (corresponding to a depth of approximately 74 metres below surface). This is the first drill hole of a programme designed to accurately locate previously intersected mineralised zones and test their continuity to depths up to 150-180 metres below surface. This phase of drilling will comprise approximately 750 to 1,000 metres of HQ and NQ orientated drill core. The core is being analysed on site using portable XRF and mineralised intervals will be sent to the SGS laboratory in Kalalushi for analysis. Historic work has established an 16 kilometre open-ended soil geochemical anomaly at Jacks with historic drill logs reporting intersections as wide as 23.95 metres grading at 1.26% total copper (TCu), including intervals as high as 3.19% TCu over 2.15 metres. Announcement • Apr 14
Tertiary Minerals plc Announces Results from Drill Programme At the Pyramid Silver-Gold Project in Nevada Tertiary Minerals plc announced results from the Company's recent drill programme at the Pyramid Silver-Gold Project in Nevada. In summary, drilling at the North Ruth target has not, to date, demonstrated significant mineralisation at depth. The Pyramid Gold-Silver Project was established through a lease agreement, targeting epithermal gold and silver mineralisation at the northwest end of the prolific current and past producing Walker Lane Mineral Belt. The Company conducted systematic exploration at Pyramid undertaking extensive soil sampling, rock-ship sampling, mapping, and three phases of trenching over soil anomalies between April 2021 and February 2022. At the North Ruth target, surface silver and gold mineralisation was demonstrated to extend over a strike extent of at least 530 metres, with a zone width of up to 59 metres and yielding up to 595 g/t silver (17.35 ounces/ton) and 0.66 g/t gold (Announcement dated 14 October 2021). Drill Programme Envirotech Drilling LLC of Winnemucca, Nevada was contracted to conduct RC drilling and commenced on 8 March, operating on a 24-hour basis until completion on 13 March 2022. The program was designed to test continuity of mineralisation at depth and along strike at the North Ruth target and comprised 6 holes (NR-01 to 06) for a total of 3,445 feet (1,050 metres). RC samples were collected on 5-foot (1.52 metre) intervals providing 689 samples. 39 Field duplicates were collected throughout sampling. Additionally, 41 certified reference materials ("CRMs") and 40 blanks were inserted into the sample run. Significant drilling results are shown in Table 2. Upon completion of a drillhole International Directional Services ("IDS") performed downhole surveys using a gyroscopic survey tool to record azimuth and dip deviation. Collar locations were surveyed by handheld GPS and where two collars are adjacent, their relative position estimated to nearest metre. Holes NR-01, NR-02, NR-03 and NR-04 were designed to intersect targets beneath the highest grade surface mineralisation in Trench 1, Trench 1 Ext and Trench 8. No significant intersections are noted. Minor intersections are noted in holes NR-05 and NR-06 which were drilled towards the southern extent of the North Ruth target. At this stage the discrepancy between surface and drill results is not explained and further evaluation is required. Faulting or surface enrichment are possible explanations. Phase 3 Trenching the Company also conducted a further, short program of trenching, comprising 3 trenches in February 2022 while drill pad and access construction was underway. Field observations and assay results continued to confirm the presence of mineralisation at surface and supported the plan to drill. The samples collected from the trenches were prepared and analysed by Paragon using the same methods as previous phases3. Drill samples were collected on-site by Paragon Geochemical ("Paragon") and transported under chain of custody to their facility in Reno, Nevada for sample preparation and analysis. Samples were prepared using code PREP-PKG where samples were crushed to 70% passing 10 mesh (2000 micron) and 1 kilogramme riffle split and crushed to 85% passing 200mesh (74 micron). RC material was sampled over continuous 5-foot (1.53 metre) intervals. Gold and silver were analysed by method Au-AA Ag-GR, a 30g fire assay with gravimetric finish for silver and an atomic absorption spectroscopy finish for gold. As routine, Paragon implemented internal QA/QC procedures which were reviewed by the Company and are considered acceptable. Announcement • Feb 24
Tertiary Minerals plc Announces Drill Programme at Pyramid Silver-Gold Project to Commence Tertiary Minerals plc announced that contractors have been appointed for the Company's upcoming drill programme at the Pyramid Silver-Gold Project in Nevada. Drill pad construction and site access is complete and Envirotech Drilling LLC ("Envirotech") of Winnemucca, Nevada has been appointed as contractor to undertake reverse circulation ("RC") drilling; Surface mineralisation has been shown to extend over a strike extent of at least 530 metres at the North Ruth target, with grades as high as 595 g/t silver (17.35 ounces/ton) and 0.66 g/t gold intersected in exploration trenches; The objective of the drill programme is to establish the continuity of the silver and gold mineralisation at depth and will comprise six holes for an estimated 4,000 feet of RC drilling; Envirotech will mobilise and begin drilling in the second week of March 2022. The Pyramid Gold-Silver Project is located in north-central Nevada, USA and is targeting epithermal silver and gold mineralisation at the northwest end of the prolific current and past producing Walker Lane Mineral Belt. In January 2021, the Company announced results from a soil sampling programme carried out to confirm, and determine the extent of, an open-ended gold and multi-element soil anomaly originally defined in the 1980s by Battle Mountain Gold Company. A number of significant new gold and silver-in-soil anomalies were identified, including North Ruth. Follow up soils, rock chip sampling, and trenching programmes were designed to test various gold and silver soil anomalies across the property. Two trenches, Trench 1 and Trench 2, were located over the north and south ends of the North Ruth soil anomaly, respectively. Assay results from Trench 1 revealed a 46 metre continuous thickness of mineralisation grading 61 g/t silver (1.78 ounces/ton) and 0.09 g/t gold. The next nearest trench, Trench 2, 460 metres along strike, had a 3.05 metre cut grading 260 g/t silver (7.58 ounces/ton) and 0.27 g/t gold. A second phase of trenching in August 2021 included an extension to Trench 1 and identified 58.98 metres of continuous silver mineralisation, grading 73 g/t silver (2.14 ounces/ton) with 0.13 g/t gold. This interval also includes two high grade intervals of 3.35 metres grading 218 g/t silver (6.37 ounces/ton) with 0.25 g/t gold and 2.13 metres grading 595 g/t silver (17.35 ounces/ton) with 0.66 g/t gold. Trenches 7 and 8, were excavated along strike from Trench 1 EXT. Trench 7, located approximately 73 metres to the northwest, cut 2.44 metres grading 64 g/t silver (1.88 ounces/ton) with 0.47 g/t gold. Trench 8 was located 65 metres southeast of Trench 1 EXT and cut 26.80m grading 37 g/t silver (1.08 ounces/ton) with 0.12 g/t gold which included a higher-grade zone of 6.09 metres grading 102 g/t silver (2.96 ounces/ton) with 0.26 g/t gold. Trench 8 also cut a separate gold bearing zone 6.09 metre wide, grading 0.73 g/t gold with negligible silver. The second phase of trenching confirmed the surface silver and gold mineralisation to extend over a strike extent of at least 530 metres, while the Trench 1 EXT, revealed a zone width of up to 59 metres with grades as high as 595 g/t silver (17.35 ounces/ton) and 0.66 g/t gold. In October 2021 the Company conducted further mapping and sampling at North Ruth to provide additional geological and grade control for drill planning. Additional samples were collected from the wider project area during the work programme. Previous exploration had defined zones of silver-gold bearing silicification at North Ruth which were mapped and sampled along strike. Pertinent information such as dip, strike, joining and degree of silicification was recorded at each sample site and additional sites not subjected to sampling. The mapping has refined historic data and indicates the mineralised zones generally to have a southwest dip of between 70 and 80°. A total of 37 samples were collected, 34 of which were located at North Ruth. Samples PR-318 and PR-319, located approximately 95 metres southeast of Trench 8 and 300 metre northwest of Trench 2, returned silver grades of 1,286 g/t and 889 g/t, respectively. Additional samples returning significant and high-grade silver grades are located within the mid-North Ruth area suggesting mineralised continuity along strike. An additional 4 samples were collected from the southeast of the project area where trenching was planned but not conducted due to time constraints in the Phase 2 trenching programme. All 4 samples contained significant silver mineralisation and highlight the potential for additional exploration targets going forward. Announcement • Aug 20
Tertiary Minerals plc Provides Exploration Update on Its 100% Owned Brunton Pass Copper Project in Nevada, USA Tertiary Minerals plc provided the following exploration update on its 100% owned Brunton Pass Copper Project in Nevada, USA. The Company's acquisition of the Brunton Pass Project was announced earlier this year, on 18 January 2021, after sampling of prospector small-scale surface workings, possibly originally dug for turquoise, revealed high copper values in the southern half of the claim block. Since then, rock sampling and reconnaissance mapping has been extended into the northern part of the claim block where there are similar workings with shows of copper oxide minerals and where a small of amount of mercury was historically produced at the Antelope Mine. A high-resolution drone-based aeromagnetic-photogrammetric survey and soil sampling have also been carried out across the whole project area. Nine rock chip samples were taken as grab samples from different small prospecting pits and submitted for gold fire assay and multi-element analysis. Highlights include grab samples BR-014 which returned 6.84% copper and BR-016, which contained 1.75 g/t gold and 2.37% copper. Anomalous silver was also detected with an average of 14.65 g/t silver across all samples collected. The drone and photogrammetric surveys were flown using 50 metre line spacing and 61 line-kilometres of data was collected. The photogrammetric survey provides aerial imagery to assist geological interpretation as well as an environmental baseline for future surface disturbance. The magnetic data was processed by Magnetic Vector Inversion Modelling to produce a 3D magnetic model of the survey area. A structural and geological interpretation of the magnetic data was also conducted to define structures that could be potential pathways for mineralisation and a framework for further exploration. Copper and mercury mineralisation at Brunton Pass is closely associated with hornfels and skarn alteration of limestone and associated sediments that form a northwest-southeast oriented, 1km x 0.75km, "window" within younger Tertiary-age volcanic rocks. The magnetic inversion model suggests that the sediments may be underlain at shallow depth by a large intrusive body that could be the source of the alteration and mineralisation. Evidence for this underlying body is found in surface outcrops of quartz monzonite and diorite dykes. The limestone window forms a magnetic low within Tertiary volcanics and appears to be in fault contact with the volcanics. A total of 485 soil samples were collected at 50m spacing on lines 100m apart over the main sedimentary window and on a 100m by 100m offset grid over the remainder of the project area. The samples were submitted to Paragon Geochemical Laboratories, Reno for multi-element analysis. Several copper-in-soil anomalies with individual grades of up to 953ppm copper are present within the project area. The of these anomalies has dimensions of 340m x 310m and they are mainly coincident with areas of rock samples containing percent-level copper values. Two large mercury-in-soil anomalies2 were also defined with values up to 52 ppm mercury with the of these extending over an area approximately 500m x 500m. This anomaly encircles the copper soil anomalies in the northern part of the project area and at its western part it is coincident with a deep magnetic low, possibly reflecting magnetite destructive mineral alteration. The Company considers that an episode of intrusion related skarn copper mineralisation at Brunton Pass has been overprinted by a later episode of mercury mineralisation which may represent the high levels of an epithermal system prospective for gold and silver. The Company now intends to conduct a preliminary trenching programme across the main copper anomaly and carry out further investigation of the potential for gold and silver mineralisation. Announcement • Jun 03
Tertiary Minerals plc Reports Assay Results from A Recent Trenching Programme Show A Thick Zone of Open-Ended Silver Mineralisation Tertiary Minerals plc reports that assay results from a recent trenching programme show a thick zone of open-ended silver mineralisation in Trench No.1 at the North Ruth soil anomaly on the Pyramid Gold-Silver Project in Nevada, USA. Highlights include: 6 trenches completed for a combined length of 360m of trenching; Trench No.1 through northern portion of the North Ruth soil anomaly cut a continuous width of 45.72m grading 61 g/t silver (1.78 ounces/ton) including 9.14m grading 146 g/t silver (4.26 ounces/ton); Silver mineralisation continues to end of Trench No. 1 and is open ended; Trench No.2, 460m along strike, includes 3m grading 260 g/t Silver (7.58 ounces/ton); Narrower zones of lower grade mineralisation found in 3 other trenches on the Western Line soil anomaly; Infill soil sample results awaited for southern part of the project area. Announcement • Mar 11
Tertiary Minerals plc Provides Results of Follow-Up Sampling Carried Out on Its Pyramid Gold-Silver Project in Nevada, USA Tertiary Minerals plc provided the results of follow-up sampling carried out on its Pyramid Gold-Silver Project in Nevada, USA. Thirty-one rock chip samples taken from exposed mineralisation in field checking of the North Ruth, Western Line and Western Splay silver-gold soil anomalies. Eight rock chip samples from the North Ruth anomaly assayed up to 314 g/t silver (9.16 ounces/ton) and 0.45 g/t gold (in separate samples) and averaged 91 g/t silver (2.67 ounces/ton) and 0.26 g/t gold. Highest value individual sample from the field work contained 6.29 g/t gold and 158 g/t silver (4.61 ounces/ton from the Western Line Anomaly where seven samples averaged 1.49 g/t gold and 99 g/t silver (2.89 ounces/ton). Field evidence suggests the Western Line Anomaly may extend along strike to the southeast over a total of 1,700m - infill soil sampling planned. Follow up trenching and mapping now planned to better expose the mineralisation in the North Ruth and Western Line anomalies. Announcement • Feb 23
Tertiary Minerals plc Starts Drilling on Lucky Copper Project in Nevada, USA Tertiary Minerals plc announced that drilling is scheduled to start on 22 February 2021 on the Company's Lucky Copper Project in Nevada, USA. The target is a disseminated sediment hosted, intrusion-related copper deposit and details of the project and the planned drill hole can be found in the Company's announcements of 29 May 2020 and 11 January 2021. Results of the drilling will be advised once analytical results become available. Announcement • Feb 16
Tertiary Minerals plc Announces Exploration Update Tertiary Minerals plc advised that it has now received results from soil sampling and a detailed magnetic survey at its Paymaster Polymetallic Project in Nevada, USA. Highlights include: Infill soil sampling completed over East Slope Prospect - Zinc-silver soil anomalies defined over 450m, open to the east; Maximum values of 34.9 ppm silver (1.02 ounces per ton) and 5.65% zinc (single sample) in soil samples (close to high grade outcropping mineralisation);
Magnetic Vector Inversion modelling defines magnetic bodies associated with East Slope and Valley Prospects and additional targets for exploration; and Field mapping and trenching proposed for spring/summer 2021.
The Paymaster Polymetallic Project is located approximately 30km southwest of Tonopah in north central Nevada. The project was acquired in 2019 to evaluate areas of polymetallic skarn-type mineralisation within a 1.7km long zone of widely spaced, shallow, prospector pits. In July 2019, Tertiary announced the results of a broadly spaced soil sampling programme which identified several soil anomalies including the East Slope Prospect and infill soil sampling was completed in late 2020. A total of 134 soil samples were collected on a 40m by 20m grid. As a result of the infill soil sampling, the original East Slope soil anomaly has been confirmed and resolved to a zone of zinc and silver soil anomalism with values in excess of 200 ppm (parts per million) zinc and 0.5 ppm silver (80th percentile values) occurring over a strike length of 450m and a width of 90m. Within this, the high values of zinc and silver were 34.9ppm silver (1.02 ounces/ton) and 5.65% zinc adjacent to a prospector pit where previous rock chip samples had returned chip samples of 6.84% zinc and 117ppm silver over an approximately 2m width. In autumn 2020, a UAV (drone) high resolution photogrammetric and magnetic survey was carried out and comprised 28.4-line km of flying on traverses 100m apart on a linear grid approximately 1000m north-south and 1600m in width across the main Project Area. More detailed surveys were completed over the East Slope and Valley Prospects with a line spacing of 20m (north-south) and 20m (east-west), respectively. The magnetic data was processed by consulting geologist, Brian Williams using Geosoft Magnetic Vector Inversion software to create a magnetic susceptibility model aligned with the size and orientation of any magnetic zones. A north-south trending magnetic body was defined at the East Slope Prospect coincident with the newly resolved zinc-silver soil anomaly. The anomaly terminates at its western end on the eastern flank of the magnetic structure. This magnetic anomaly is interpreted to represent an intrusive body and may be the source of mineralisation within more permeable east-west trending sediments. At the Valley Prospect a small magnetic lobe was modelled coincident with the surface mineralisation where an earlier rock sample taken from historic shaft spoil assayed 7.5% zinc, 4.3% lead and 180g/t silver. This modelled magnetic body, approximately 70m in length and 50m wide, is a target for further work and may be due to magnetite within the skarn zone. The Valley Prospect also lies adjacent to a larger magnetic body which may also be related to the skarn mineralisation. Both the East Slope and Valley Prospects sit within discrete magnetic lows zones within the host sedimentary rocks adjacent to magnetic hights interpreted to represent granite intrusions. A number of other targets can be defined on this basis and require field evaluation. The Company also proposes to carry out trenching at the East Slope and Valley Prospects in order to better expose, map and sample the observed mineralisation. This work will likely be carried out in late spring or summer due to the high elevation of the project area. Announcement • Feb 03
Tertiary Minerals plc Completes Evaluation of its Results from Soil Sampling and Magnetic Surveying at Its Mt Tobin Silver Project in Nevada, USA Tertiary Minerals plc announced that it has now completed evaluation of its results from soil sampling and magnetic surveying at its Mt Tobin Silver Project in Nevada, USA. The Mt Tobin Project is located 73km south of Winnemucca in north central Nevada and was acquired to follow up historical reports of silver mineralisation in chert and silicified sediments. In summer 2020, Tertiary carried out an initial reconnaissance prospecting visit that confirmed the earlier reports when rock samples taken from prospector hand-dug pits returned silver values up to 107 grammes/tonne (3.12 ounces/ton) with several other samples returning between 15 and 91g/t silver. This was followed up in autumn 2020 with a UAV (drone) high resolution photogrammetric and magnetic surveys and a soil sampling programme. The magnetic survey comprised 23.6-line km of flying on traverses 50m apart on a linear grid approximately 1,500m north-south and 750m in width. A total of 304 soil samples were collected on a 40m by 100m grid over the same area. The soil analytical results have now been received and an initial interpretation of results has been carried out. Soil samples were sieved and the minus 0.18mm fraction was submitted for geochemical analysis1. for silver, gold and various pathfinder elements. Samples were found to contain up to 15.7 parts per million (ppm) silver (0.46 ounces/ton) and anomaly thresholds were defined at 0.5ppm and 1ppm (being above the 80th and 90th percentile respectively). At a 0.5ppm silver contour level the silver-in-soil anomaly extends over a strike length of 1,200m and contains areas over the 1ppm contour up to 500m in length and with widths between 40 and 150m. Gold values were anomalous up to 128 parts per billion (ppb), but silver shows a higher correlation with geochemical values of mercury, zinc, antimony and lead. The magnetic data was processed by consulting geologist, Brian Williams, by inversion using Geosoft Magnetic Vector Inversion software to create a magnetic susceptibility model aligned with the size and orientation of magnetic bodies. A low level but distinctive magnetic anomaly was defined with a sub-horizontal pipe shape extending north from a larger magnetic body at the south end of the survey grid. Mostly the magnetic anomaly does not outcrop but lies between 20m and 100m below surface. The magnetic anomaly shows a strong association parallel and immediately west of the silver-in-soil anomaly. In places it is coincident with a weathered diabase body at surface, but it is not dyke-like in form. The magnetic body may be caused by pyrrhotite associated with the silver mineralisation as the silver bearing rock samples referred to above were veined with stockworks of iron-oxides formed from oxidation of sulphide minerals. The associated magnetic and silver-in-soil anomalies present attractive exploration targets and further work is now planned to include additional mapping and field evaluation of the anomalies. This work will likely be carried out in late spring or summer this year due to the high elevation of the project area. Announcement • Jan 28
Tertiary Minerals plc has completed a Follow-on Equity Offering in the amount of £0.45 million. Tertiary Minerals plc has completed a Follow-on Equity Offering in the amount of £0.45 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 173,076,923
Price\Range: £0.0026
Transaction Features: Subsequent Direct Listing Announcement • Jan 19
Tertiary Minerals plc Announces New Copper Exploration Project, Brunton Pass, USA Tertiary Minerals plc announced that it has staked claims over a new copper exploration project at Brunton Pass in Nevada, USA. 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. 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 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. Announcement • Jan 12
Tertiary Minerals plc Provides Update on Pyramid Gold-Silver Project in Nevada, USA and Other Exploration Projects Tertiary Minerals plc provided the following update on its Pyramid Gold-Silver Project in Nevada, USA and other exploration projects. Pyramid Gold-Silver Project: The Pyramid Gold-Silver Project is located in north-central Nevada, USA and is targeting epithermal gold mineralisation in the prolific past producing Walker Lane Mineral Belt. The soil sampling programme was carried out to confirm and determine the extent of an open-ended gold and multi-element soil anomaly originally defined in the 1980s by Battle Mountain Gold Mining Company. 370 soil samples were collected at spacings of 30m on 120m spaced lines on a grid oriented SE-NW along the main vein trend. In the south end of the property soil sample lines were more reconnaissance in nature with a line spacing of 360m. The historic soil anomaly over the "Western Line" was confirmed over a strike length of 1000m with values up to 349ppb gold (0.35 g/t Au) and 22 ppm silver. Wider spaced sample lines to the southeast suggesting a possible 750m extension to the Western Line Anomaly where infill sampling is now required. In addition, the survey identified two new, untested soil anomalies, anomalous for both gold and silver. The first of these appears to be a splay off Western Line (the Western Splay Anomaly) and has a length of 550m open to the south (maximum values of 177 ppb gold and 3 ppm silver). The second is an 800m-longanomaly located to the northeast of the Western Line Anomaly and follows a northern projection of the Ruth Mine vein system (the "North Ruth Anomaly). The North Ruth Anomaly contains soil values up to 1.63g/t gold and 207g/t silver (6.04 ounces/ton). These potentially "ore-grade" values require immediate follow up and so trenching is now planned to expose the bedrock for sampling to determine their significance as future drill targets. The gold and silver values show a high correlation with each other and good correlation with a number of other elements such as arsenic and mercury and tellurium which are common pathfinder elements for epithermal gold and silver and a very strong correlation with selenium which is a trace element characteristic of productive low-sulfidation gold deposits in northern Nevada and elsewhere. Paymaster & Mt Tobin Projects, Nevada: The analytical results of the soil sampling programme referred to in the Company's announcement of 30 September 2020 have just been received and are now being processed alongside the data collected from the drone magnetic survey completed in 2020. Results are expected to be available for release in approximately two weeks-time. At Mt Tobin, the main target is a large area of hydrothermal alteration where preliminary rock samples taken from prospectors' hand dug pits have returned silver values of up to 101 grammes/tonne (g/t). The target at Paymaster is a skarn hosted zinc-silver deposit and the Company's consultant geologist for Paymaster has drawn analogies to the Taylor Zinc-Silver Deposit owned by South 32 at Hermosa, in the neighbouring state of Arizona (reported resource of 155mt grading 3.5% zinc, 3.67% lead and 69 g/t silver). Lucky Copper Project, Nevada: The Company's notice level drill permit application to the US Bureau of Land Management has now been granted and bonded. A hole will be drilled as soon as a drill rig becomes available to confirm and extend at depth a drill intersection made in 1951 in a percussion drill hole of a 20.4m cumulative thickness of mineralisation which assayed 0.65% copper to the bottom of the hole at 77.7m depth. The hole ended in mineralisation. The target is a disseminated sediment hosted, intrusion-related copper deposit. Lassedalen Fluorspar Project, Norway: The Company has made the decision to terminate its interest in the Lassedalen Fluorspar Project in Norway and consequently will not extend its landowner/mineral rights agreements in 2021. No work has been carried out at the Lassedalen Project for a number of years and the project has not been a priority for the Company for some time. Historic exploration costs associated with the project costs have been written off since 2019 and so the termination of the project will have no effect on the Group's net asset value as disclosed in the last reported audited accounts being for the period ending 30th September 2020. Announcement • Dec 17
Tertiary Minerals plc Announces Appointment of Mike Armitage as Non-Executive Director Tertiary Minerals plc announced that it has appointed Dr. Mike Armitage as an independent non-executive director of the Company effective immediately following the Annual General Meeting to be held on 28th January 2021. Dr. Armitage is currently employed by SRK Consulting (UK) Ltd, part of the SRK Group, a leading global mining consultancy. He has over 35 years' experience in the mining industry and at SRK has been responsible for managing feasibility studies and stock exchange Competent Persons Reports on behalf of mining and exploration companies, as well as audits and due diligence studies and independent valuations of exploration and mining assets on behalf of investment institutions or in support of mergers and acquisitions. During his time with SRK, Dr. Armitage has been Managing Director and Chairman of the SRK's UK practice, Director of several of SRK's individual company practices, including SRK's Exploration Services, and SRK Group Chairman. He is currently Chair of the Applied Earth Science Division of the Institute of Materials, Minerals & Mining, Chair of the Geological Society Business Forum and Honorary Chair of the Critical Minerals Association. Announcement • Dec 12
Tertiary Minerals plc, Annual General Meeting, Jan 28, 2021 Tertiary Minerals plc, Annual General Meeting, Jan 28, 2021, at 14:00 Coordinated Universal Time. Announcement • Oct 01
Tertiary Minerals plc Updates on its Exploration Projects in Nevada, USA Tertiary Minerals plc update on its exploration projects in Nevada, USA. Peg Leg Copper-Silver-Lead-Zinc Project: The company holds four mining claims 11km north of Tonopah in the San Antone Mineral Field in south central Nevada. The background to this project is given in the Company's news release dated 29 May 2020. The company has completed four exploration trenches along a granite/limestone contact zone targeting skarn-style mineralisation over a strike length of approximately 230m. The trenches exposed multiple zones of magnetically anomalous oxidised skarn mineralisation adjacent to the granite contact and samples have been collected for analysis. A 12.6-line km magnetic survey is planned to further define the skarn zones and a drill programme will be initiated should this be justified by analytical results. Paymaster Zinc-Silver Project: The target at Paymaster is a skarn hosted zinc-silver deposit and the Company's consultant geologist for Paymaster has drawn analogies to the Taylor Zinc-Silver Deposit owned by South 32 at Hermosa, in the neighbouring state of Arizona (reported resource of 155mt grading 3.5% zinc, 3.67% lead and 69 g/t silver). The mineralisation at Paymaster also has a magnetic response and so drone magnetic surveys are due to be completed this week to define possible drill targets. A detailed drone magnetic survey (20m line spacing) will cover the Valley Prospect which has previously returned grab samples of up to 11.73% combined lead, zinc and copper and 180 g/t silver. The skarn outcrops intermittently over a strike length in excess of 200m. A broader drone magnetic survey (100m line spacing) will be flown over the remainder of the project claims including the East Slope Prospect. A total of 28.4-line km of magnetic survey is scheduled. An infill soil sampling programme has also been commissioned to cover the East Slope Prospect where previous wide spaced soil sampling defined a coherent zinc anomaly over 500m long (+100ppm zinc) and where samples from prospecting pits have assayed up to 21% zinc. 134 samples are being collected on a 10m by 20m grid. Subject to results, this will allow for more accurate drill targeting. A programme of drone photogrammetry has been completed for topographic control. Pyramid Gold Project: The Pyramid Gold Project is targeting epithermal gold mineralisation in the prolific past producing Walker Lane Mineral Belt. A programme of soil sampling has been commissioned to confirm and determine the extent of an open-ended gold and multi-element soil anomaly originally defined in the 1980s and to define possible drill targets. 370 samples will be collected on a 30m by 120m grid. Mt Tobin Silver-Gold Prospect: Following the results of a preliminary field reconnaissance announced on 27 July 2020 a drone magnetic survey has been completed and a soil sampling programme has been commissioned. The drone magnetic survey comprised 23.6-line km of flying on traverses 50m apart and 304 soil samples will be collected on a 40m by 100m grid. The main target is a large area of hydrothermal alteration where preliminary rock samples taken from prospectors' hand dug pits have returned silver values of up to 101 grammes/tonne (g/t) silver (3.12 ounces/ton). Lucky Copper Prospect: Following a project review the Company has decided to defer the magnetic survey and soil sampling originally proposed for this project and move straight to drill testing. The company has submitted a Notice level drill permit application to the US Bureau of Land Management which The company expects will be granted in early October 2020. Subject to the availability of drill rigs, a hole will be drilled as soon as possible seeking to confirm and extend at depth a drill intersection made in 1951 in a percussion drill hole of a 20.4m cumulative thickness of mineralisation which assayed 0.65% copper to the bottom of the hole at 77.7m depth. The hole ended in mineralisation. The target is a disseminated sediment hosted, intrusion-related copper deposit. MB Fluorspar Project: Since the Company's announcement of 20 July 2020, the Company has completed a further project review and additional metallurgical test work. The company has been exploring and evaluating the MB Fluorspar project since 2014 and drilling has defined a large but low-grade deposit. The fluorspar in the deposit is, however, finely intergrown with other minerals, in particular calcite, and a key challenge has been to separate the fluorspar from the associated minerals and concentrate the 10% fluorspar ore grade up to a 97% fluorspar concentrate at an acceptable recovery level. The company has carried out dozens of tests since inception using multiple flotation reagent schemes and alternative flotation and other technologies. These tests have been carried out at a number of different laboratories using some of the World's best fluorspar separation experts. Despite this effort the testwork has failed to achieve target concentrate grades or recovery and the Company has concluded that it is now unlikely that a viable processing route can be achieved for the MB Project using currently available technologies. Furthermore, the leasing costs and expenditure commitments under the lease agreement that has secured its interest in the project to date were set to increase substantially from 30 September 2020 and so the Company has issued to the lessor a notice of termination of the project lease agreement.