16th Jun 2022 11:14
(Alliance News) - Tertiary Minerals PLC on Thursday said it completed its first drill programme at the Jacks Copper Project in Zambia.
The project lies within exploration licence 27069-HQ-LEL which is held by local partner Mwashia Resources Ltd. Tertiary has an exclusive option to earn up to a 90% joint venture interest in this licence.
Shares in Macclesfield, Cheshire-based Tertiary Minerals were up 9.7% at 0.17 pence on Thursday in London.
Four diamond core drill holes were completed on two separate 150 metre spaced traverses for a total of 746 metres. Analysis of the drill core in-field has revealed intersections of copper mineralisation in all four holes, though this still requires confirmation and quantification by laboratory analysis.
The results of 186 drill-core samples are expected within a few weeks, the precious metals mining company added.
Chair Patrick Cheetham said: "We anticipate that the expenditures incurred on this programme will satisfy the requirements for the company to earn an initial 51% interest in the licence and we look forward to working with our joint venture partner, Mwashia Resources, on this and the other joint venture licences we have with the same partner."
By Heather Rydings; [email protected]
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