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Share Name Share Symbol Market Type Share ISIN Share Description
Tertiary Minerals Plc LSE:TYM London Ordinary Share GB0008854563 ORD 0.01P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.025 -9.26% 0.245 0.24 0.25 0.265 0.225 0.265 17,569,342 15:45:48
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.2 -0.8 -0.2 - 2

Tertiary Minerals PLC Mt Tobin Project Update

27/07/2020 7:00am

UK Regulatory (RNS & others)


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RNS Number : 0720U

Tertiary Minerals PLC

27 July 2020

27 July 2020

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

Mt Tobin Project Update

Further to its announcement of 20 July 2020, Tertiary Minerals plc is pleased to provide the analytical results from preliminary reconnaissance sampling at the Company's Mt Tobin Silver Prospect in Nevada, USA.

Mt Tobin Silver Prospect

Ø Main target - large area of hydrothermal alteration 60m wide x 1,200m long with associated silver geochemical anomaly recorded by previous explorer.

Ø Preliminary rock samples taken from prospector's hand dug pits have returned silver values of up to 101 grammes/tonne (g/t) silver (3.12 ounces/ton) with several other samples returning between 15 and 91g/t silver.

Ø These and other anomalous results were returned over a 450m strike length sampled to date.

Ø Mineralisation is open to north and south, structurally controlled and spatially related to dyke intrusion.

Ø Further mapping, sampling and soil sampling is planned to better define the widths and strike extent of mineralisation in this poorly exposed area.

A plan showing the location and distribution of the reconnaissance sampling results is available on the Company's website at: https://www.tertiaryminerals.com/projects/other-projects/mt-tobin

Commenting today, Executive Chairman Patrick Cheetham said:

"These are very pleasing results from initial reconnaissance work at Mt Tobin and we look forward to increasing the pace of exploration on this and other precious metal projects in our Nevada portfolio this summer and autumn. It's an interesting time for silver with the silver price up 80% in the past 18 weeks and arguably showing more leverage than the gold price in the current market conditions."

For more information please contact:

 
 Tertiary Minerals plc: 
 Patrick Cheetham, Executive 
  Chairman                        +44 (0) 1625 838 679 
                                 ------------------------------ 
 SP Angel Corporate Finance LLP 
  Nominated Adviser and Broker 
 Richard Morrison                 +44 (0) 203 470 0470 
                                 ------------------------------ 
 Caroline Rowe 
                                 ------------------------------ 
 Peterhouse Capital Limited 
  Joint Broker 
 Lucy Williams                   + 44 (0) 207 469 0930 
                                ------------------------------- 
 Duncan Vasey 
                                 ------------------------------ 
 
 

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Notes:

1. The information in this release has been compiled and reviewed by Mr. Patrick Cheetham (MIMMM, MAusIMM) who is a qualified person for the purposes of the AIM Note for Mining and Oil & Gas Companies. Mr. Cheetham is a Member of the Institute of Materials, Minerals & Mining and also a member of the Australasian Institute of Mining & Metallurgy.

2. The news release may contain certain statements and expressions of belief, expectation or opinion which are forward looking statements, and which relate, inter alia, to the Company's proposed strategy, plans and objectives or to the expectations or intentions of the Company's directors. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such forward-looking statements. Accordingly, you should not rely on any forward-looking statements and save as required by the AIM Rules for Companies or by law, the Company does not accept any obligation to disseminate any updates or revisions to such forward-looking statements.

Note to Editors:

Tertiary Minerals plc (ticker symbol 'TYM') is an AIM-traded mineral exploration and development company building a multi-commodity project portfolio.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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July 27, 2020 02:00 ET (06:00 GMT)

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