Tertiary Minerals (LSE:TYM), the AIM-listed exploration company, has delineated a higher-grade silver-copper-zinc zone within its Discovery Zone at the Target A1 prospect, part of the Mushima North project in Zambia.
The zone measures approximately 400 metres by 150 metres and sits within a wider Exploration Target previously estimated at 15 to 30 million tonnes grading 40 to 60 grams per tonne silver equivalent.
Results from 29 of the 39 planned reverse circulation holes have now been released, including an intersection of 52 metres at 99 grams per tonne silver, 0.41% copper and 0.43% zinc from 39 metres downhole.
Several holes ended in mineralisation beyond the modelled boundary, which measures 500 metres long, 350 metres wide and 75 metres thick, indicating the zone remains open at depth.
The company also reported a new shallow copper discovery at its Western Zone, roughly 900 metres southwest of the Discovery Zone, with initial handheld analyser results including 25 metres at 0.38% copper.
Certified assays returned elevated bismuth, antimony and cobalt, though the company has not yet evaluated their economic potential.
"Significantly, in several holes the mineralisation transitions from the oxide zone into fresher rock where visible disseminated sulphide mineralisation is also observed in the drill chips," said Richard Belcher, managing director of Tertiary Minerals.
Results from the remaining eight holes are expected in the coming weeks, with initial metallurgical testwork due in the coming months and a maiden Mineral Resource Estimate targeted before the end of the year.
News Intelligence what this means for the company
Tertiary Minerals has released 29 of 39 Phase 4 drill results from Mushima North's Target A1, confirming a higher-grade silver-copper-zinc zone (400m × 150m) within the previously estimated 15–30 million tonne exploration target, with mineralisation extending beyond the modelled boundary and a new shallow copper discovery at the Western Zone 900m away. The company is on track for a maiden JORC Mineral Resource Estimate targeted before the end of the year, with metallurgical testwork due in coming months and the final eight holes expected imminently.
The delineation of a higher-grade sub-zone and evidence of mineralisation remaining open at depth strengthen the resource conversion narrative at Tertiary's flagship project, though the investment case remains contingent on the maiden resource estimate delivery and the economic viability of the newly identified Western Zone copper discovery, which has not yet been evaluated for economic potential.
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