Tertiary Minerals (LSE:TYM) has reported the first laboratory results from its Phase 4 drill programme at Target A1, part of the Mushima North project in Zambia.
The AIM-listed explorer's results, from five of the 39 holes drilled, confirm thick, near-surface silver-copper-zinc mineralisation within its previously reported Discovery Zone exploration target of 15 to 30 million tonnes at 40 to 60 grams per tonne silver equivalent.
One hole, 26TMNRC-045, returned 66 metres at 37 g/t silver, 0.28% copper and 0.27% zinc (58 g/t silver equivalent) from just seven metres downhole, at the upper end of the target grade range.
The same hole also intersected a higher-grade zone of seven metres at 56 g/t silver and 0.48% copper (89 g/t silver equivalent) from 81 metres downhole.
Assays also picked up elevated bismuth, antimony and cobalt, including the highest one-metre grades of each critical mineral recorded at the project to date.
Target A1 sits within Zambia's Iron-Oxide-Copper-Gold belt, 28km east of the historic Kalengwa copper-silver mine, currently under redevelopment.
"These results support the preliminary in-field copper-zinc results, provide the first silver intersections and confirm the near surface, thick silver-copper-zinc mineralisation within our Exploration Target," said Richard Belcher, Tertiary Minerals' managing director.
Samples have been submitted for initial metallurgical testwork, with further certified lab results due over the coming weeks as the company works toward its stated goal of a maiden mineral resource estimate this year.
News Intelligence what this means for the company
Tertiary Minerals has released certified lab results from its Phase 4 drilling at Mushima North Target A1 in Zambia, confirming thick near-surface silver-copper-zinc mineralisation within its previously reported 15–30 Mt exploration target at 40–60 g/t silver equivalent. The best hole returned 66 metres grading 37 g/t silver, 0.28% copper and 0.27% zinc from just 7 metres depth, with an embedded higher-grade zone of 7 metres at 56 g/t silver and 0.48% copper—both at or above the target envelope—plus elevated critical minerals (bismuth, antimony, cobalt). The company is now advancing toward a maiden mineral resource estimate this year, with metallurgical testwork underway and further assays due in coming weeks.
The results validate the exploration target and de-risk the near-surface geometry ahead of resource definition, but the company's cash position was £78,000 as of late June 2026, making near-term funding critical to sustain the path to a resource estimate and any subsequent development work.
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