Tertiary Minerals plans second-phase trenching at Pyramid

Tertiary Minerals updated the market on its Pyramid Silver-Gold Project in Nevada on Tuesday, reporting that second-phase trench planning was now complete.

The AIM-traded firm said three trenches would be excavated for a total of 300 metres, to better define the North Ruth silver discovery.

Infill soil sampling results had been received, with the Western Line Anomaly confirmed at an overall length of 1,100 metres, and the Western Line Splay Anomaly extended to an overall length of 800 metres.

New soil results included samples containing up to 0.77 grams of gold and 9.32 grams of silver per tonne.

Tertiary said second-phase trenching would include four trenches to test the new soil anomaly extensions.

A notice-level permit was being processed by the United States Bureau of Land Management (BLM) for trenching on public lands, with approval expected “shortly”.

Additionally, the company said a drone-based magnetic survey had been conducted, with interpretation ongoing, as the company was planning for drill testing to follow the trenching programme.

“We are keen to build on the exciting discovery last month of a wide zone of silver mineralisation in our first-phase trenching programme at the North Ruth anomaly,” said executive chairman Patrick Cheetham.

“This mineralisation is open both along and across strike and we will now undertake further trenching to better define the scale and orientation of the mineralisation prior to drill testing.”

Cheetham said soil sampling results from infill sampling in the southern half of the project area were “encouraging”, with the second-phase trenching programme would include a number of additional trenches to test the soil anomalies in this area.

“Permits are expected to be approved within the next week or so.”

At 1432 BST, shares in Tertiary Minerals were down 4.21% at 0.27p.