Tertiary Minerals upbeat on sampling results from Pyramid Project

Tertiary Minerals updated the market on its Pyramid Gold-Silver Project in Nevada on Monday, as well as some of its other projects, reporting that soil sampling results at Pyramid confirmed historic gold-in-soil anomalies over the minimum one kilometre strike.

The AIM-traded firm said two new soil anomalies had been identified over lengths of 500 metres open-ended, and 800 metres.

It said the soils contained up to 1.63 grams of gold per tonne, and 207 grams of silver per tonne, with immediate follow-up trenching and sampling planned.

At its other projects, Tertiary said soil sample results had now been received, with drone magnetic survey data being processed for the Mt Tobin Silver and Paymaster Polymetallic Projects in Nevada.

Interpretation was in progress, with results expected to be available by the end of January.

It also said a drill permit had been received for the Lucky Copper Prospect in Nevada, while the Lassedalen Fluorspar project in Norway had been terminated.

“The results from the Pyramid Project soil sampling are very encouraging with some high results within consistent anomalies of significant strike length,” said chairman Patrick Cheetham.

“We will look to test these anomalies as soon as possible, initially with trenching and sampling with follow up drilling as justified.”

Cheetham said the results were the first to be received from the company’s autumn exploration programmes, with more results due soon from the Mt Tobin and Paymaster Projects in Nevada and drilling planned for the Lucky Copper Project in Nevada.

“We have also been active in generating and sampling additional projects for the company in Nevada, and hope to be in a position to provide further details soon.”

At 1510 GMT, shares in Tertiary Minerals were up 0.19% at 0.27p.