Tertiary Minerals makes progress at Pyramid Gold Project

Tertiary Minerals updated the market on its plans to drill test the Pyramid Gold Project in Nevada on Tuesday, reporting that drill contract tenders had been received, and a preferred contractor identified.

The AIM-traded firm said a drone photogrammetric survey had been completed to control drilling and future exploration, and said the initial drilling would seek to confirm the priority epithermal vein drill target.

At drill hole PYR 9, it said it had intersected visible gold, and assayed 1.52 metres grading at 17.8 grams of gold per tonne from 94.5 metres down hole.

It said PYR 9 ended in 1.52 metres, grading at 2.6 grams of gold per tonne at 115.8 metres depth.

“We are pleased to be reporting good progress with the groundwork leading up to the first drill hole on the Pyramid Gold Project in Nevada where we are looking to confirm and expand upon successful historic exploration results,” said managing director Richard Clemmey.

“The deposit provides an exciting gold target where our team has recently identified analogies with the high-grade multi-million-ounce gold deposits at the Midas and Fire Creek mines in Nevada.

“We look forward to updating the market in due-course on the proposed drilling.”

At 1158 GMT, shares in Tertiary Minerals were up 35.17% at 0.24p.