Tertiary Minerals plc (LSE:TYM) said laboratory assays from Phase 3 drilling at Target A1 within the Mushima North project have delivered the company’s highest-grade silver-copper intersection to date. The standout result returned 97 metres at 85 g/t silver equivalent from near surface, alongside the strongest copper intercept recorded so far of 13 metres grading 1.46% copper.
The latest drilling has significantly expanded the known mineralised footprint at Mushima North to roughly 450 metres by 400 metres and extended mineralisation to a depth of 103 metres, while remaining open along strike and at depth in several directions. Management said the results further support the project’s bulk-tonnage open-pit development concept and will feed into an updated JORC Exploration Target that is expected to be released within the coming weeks. Planning is already under way for additional dry-season drilling, with the aim of progressing toward a maiden mineral resource by the end of 2026, highlighting Mushima North’s increasing strategic importance within the company’s portfolio.
From a broader perspective, Tertiary Minerals continues to operate under financial pressure, with ongoing losses and negative cash flows weighing on the outlook. These challenges are partly offset by a relatively strong equity position and the potential upside from its exploration assets in Zambia and Nevada. Technical indicators currently point to broadly neutral momentum, while valuation remains constrained by negative earnings.
More about Tertiary Minerals plc
Tertiary Minerals plc is a UK AIM-listed mineral exploration company focused on the discovery of silver, copper and zinc deposits. Its current exploration efforts are centred on the Mushima North Project in Zambia’s Iron Oxide Copper Gold belt, alongside additional projects in Nevada, USA.
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