4th Nov 2024 14:24
Tertiary Minerals PLC - mineral development company focused on deposits in the US, Zambia and northern Europe - Says First Quantum Minerals Ltd has begun drilling at the Mukai copper project in Zambia, following approval from the Department of Forestry and tribal group, the Musele Royal Establishment. The phase 1 drill programme will comprise up to 6 diamond drill holes. First Quantum, with which Tertiary Minerals has a data sharing and technical agreement, must define a minimum resource of 80,000 tonnes of copper before it can earn an interest in the project.
Chair Patrick Cheetham says: "This follows a period of intense consultation and work with the Musele Chiefdom, and we are grateful for their engagement in this process. I would also like to thank the Department of Forestry for expediting the approval process. We have worked closely with First Quantum throughout this process and are delighted that First Quantum has wasted no time in commencing drilling now that the approvals are in place. As a company, we are on course for participation in three drilling programmes in Zambia and also at our Brunton Pass project in Nevada, US."
Last week Tertiary Minerals reported that drilling at its Mushima North copper project, also in Zambia, intersected widespread copper and zinc mineralisation.
Current stock price: 0.08 pence, up 10% in London on Monday afternoon
12-month change: down 38%
By Emily Parsons, Alliance News reporter
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