Tertiary Minerals PLC (LSE:TYM) has announced encouraging results from its Phase 2 drilling campaign at the Mushima North Project in Zambia, highlighting a substantial extension of silver mineralization at Target A1. Drilling has delineated a 350m by 300m zone of mineralization, which remains open in multiple directions, including to the north, south, and at depth, with high-grade silver, copper, and zinc identified. These results reinforce the company’s open-pit exploration strategy and point to the potential for a significant new discovery. Further assay results and metallurgical studies are expected shortly.
The company’s outlook is tempered by ongoing financial challenges, including consistent losses and negative cash flow. Nevertheless, Tertiary Minerals benefits from a solid equity base and promising exploration assets in both Zambia and Nevada, providing potential upside. Technical indicators suggest neutral momentum, though valuation remains a concern due to negative earnings.
About Tertiary Minerals
Tertiary Minerals PLC is a mineral exploration and development company focusing on silver, copper, and zinc. Its flagship project, Mushima North in Zambia, is located near the historic Kalengwa copper-silver mine within the Iron-Oxide-Copper-Gold region. The company aims to advance these projects toward potential commercial production while leveraging strategic exploration opportunities.
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