Tertiary Minerals stakes claim at Paymaster, makes progress at MB

Tertiary Minerals has staked claim to the Paymaster zinc-copper-silver-cobalt-tellurium prospect in Nevada on Thursday.

The AIM-traded company also advised that the next phase of scoping study-level metallurgical testwork was due to start by the end of February for the MB fluorspar project, also in Nevada.

At Paymaster, Tertiary said grab samples assayed up to 21% zinc, 6.5% lead, 3.3% copper and 253g/t silver.

It explained that mineralisation was “intermittently exposed”, and sampled over a 1.7km strike length.

Samples also contained high levels of the “high-tech” metals tellurium and cobalt, with the firm confirming geophysical exploration was planned to define its drill targets.

At the MB fluorspar project, Tertiary said the next phase of metallurgical testwork was planned at SGS Lakefield, Canada, and was due to start at the end of February.

It said the target there was to produce acid-grade fluorspar and mica.

“Whilst we continue with our strategy of reviewing project acquisition opportunities potentially capable of generating revenue and profits in a shorter timescale, we have also expanded our scope to include earlier stage projects which can be developed organically,” said Tertiary Minerals managing director Richard Clemmey.

“We are therefore pleased to have secured the first project in the pipeline of exciting new projects currently being assessed.

“As well as progressing our MB fluorspar project, building a new project portfolio should enable the company to reduce its future geographical, technical, permitting and commodity risk exposure and provide long term shareholder value.”