Tertiary Minerals (LSE:TYM) shares advanced 6.2% to 0.085 after the company said it will fast-track work at its Mushima North flagship.
Target A1 carries a JORC‑compliant Exploration Target of 15-30Mt at an average grade of 40-60 g/t silver equivalent, and the company has finalised an infill drill programme and parallel technical studies, including metallurgical testwork, with field activities expected to start in mid‑May.
The earn‑in at Konkola West is advancing to Stage 2 and the formation of a joint venture company remains in progress, under which participating interests will be 39% Tertiary Minerals (Zambia), 10% Mwashia Resources and 51% Mwinilunga Exploration (a KoBold Metals subsidiary), with KoBold reviewing the Stage 1 drilling dataset to plan future programmes.
At Mukai, a binding letter with First Quantum remains in force under which First Quantum committed to a minimum US$1.5m exploration spend (including US$0.5m in year one) and the parties have agreed a 12‑month extension to the due diligence period to 6 August 2027 while renewed tribal consent is sought.
The company said it also plans initial drilling at Mupala, follow‑up drilling at Jacks and is in discussions with third parties about further joint ventures across its Zambian portfolio.
"The Company intends to fast‑track its flagship project, Target A1, with the aim of reporting a maiden Mineral Resource Estimate this year under a well‑constrained budget," Richard Belcher, Managing Director, said.
