Tertiary reports more high silver and gold grades from Pyramid

Tertiary Minerals updated the market on its Pyramid silver-gold project in Nevada on Tuesday, where analytical results from a recently-completed surface sampling and mapping programme returned more high silver and gold grades.

The AIM-traded firm said the majority of the new samples were collected over a wide area along the recently-established zone of silver mineralisation at the North Ruth target, which has a target strike length of at least 530 metres.

It said the analytical results returned “significant” silver mineralisation in 34 of the 37 samples, with four high-grade samples reporting silver grades of 1,286 grams per tonne, 889 grams per tonne, 522 grams per tonne and 513 grams per tonne.

That included four samples reporting gold grades of 2.72 grams per tonne, 1.67 grams per tonne, 1.3 grams per tonne and 1.2 grams per tonne.

Tertiary said the mapping and sampling was providing a “key input” to the modelling and design of its drill programme.

“These are very encouraging results and include the highest silver grades we have sampled at North Ruth to date,” said managing director Patrick Cullen.

“While silver is the primary target, it is also excellent to see the presence of reportable gold grades.

“We have steadily built our dataset and our understanding of the North Ruth target over a series of work programmes.”

Cullen said that had allowed the company to identify mineralised structures with increasing confidence, as reflected in the new results.

“I have been on site with our geologist in Nevada over recent days, examining previous work and planning for an upcoming drill programme, and I look forward to providing updates.”

At 1336 GMT, shares in Tertiary Minerals were down 3.32% at 0.18p.