Tertiary Minerals (LSE:TYM) has identified a new area of shallow copper mineralisation at its Mushima North project in Zambia, potentially expanding the scale of the mineralised system currently being explored at Target A1.
Scout drilling using portable X-ray fluorescence (pXRF) analysis outlined a new Western Zone, including an intersection of 25 metres grading 0.38% copper from a depth of 19 metres. This interval contained a higher-grade section of 13 metres at 0.53% copper from 29 metres.
The newly identified zone is situated approximately 900 metres west-southwest of the existing Discovery Zone. Its location indicates that copper mineralisation may extend beyond the boundaries of the project’s current Exploration Target, providing Tertiary with an additional area for follow-up exploration.
Initial interpretation of the pXRF results suggests the Western Zone contains predominantly copper-only mineralisation, although laboratory assays will be required to confirm the grades and geological characteristics.
The discovery provides further support for Tertiary’s geological model, which indicates that Target A1 could form part of a larger mineralised system than has so far been defined at Mushima North.
Exploration activity is continuing through a 39-hole Phase 4 drilling programme. Laboratory assay results and metallurgical testwork are also expected, with the resulting data set to contribute to resource modelling for the Discovery Zone and help determine the significance of the newly identified Western Zone.
Progress at Mushima North could also strengthen Tertiary’s position within Zambia’s developing copper-silver exploration district as the company works towards defining a maiden mineral resource at Target A1.
From a financial perspective, Tertiary remains constrained by persistent losses and continuing cash expenditure associated with its exploration activities. Technical indicators offer some support, with the shares trading above important moving averages, although negative earnings and the absence of a dividend mean conventional valuation measures remain limited.
More about Tertiary Minerals
Tertiary Minerals plc is an AIM-listed mineral exploration company focused on copper, silver and polymetallic opportunities. One of its principal assets is the Mushima North Copper Project in Zambia’s Iron-Oxide-Copper-Gold region.
The Target A1 prospect hosts a silver-copper-zinc mineralised system and is located close to the historic Kalengwa mine. Tertiary is advancing exploration at the prospect with the objective of defining a maiden mineral resource estimate.
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