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Tertiary Minerals #TYM – Lucky Copper Project Drilling
Tertiary Minerals plc is pleased to advise that drilling is scheduled to start today on the Company’s Lucky Copper Project in Nevada, USA.
The target is a disseminated sediment hosted, intrusion-related copper deposit and details of the project and the planned drill hole can be found in the Company’s announcements of 29 May 2020 and 11 January 2021.
Results of the drilling will be advised once analytical results become available.
Commenting today, Executive Chairman Patrick Cheetham said:
“We have decided to drill at an early stage on this project as historical exploration results present an immediate target with reported copper mineralisation that needs to be confirmed and put into a better geological context. We look forward to reporting results as they become available.”
For more information please contact:
Tertiary Minerals plc: | ||
Patrick Cheetham, Executive Chairman | +44 (0) 1625 838 679 | |
SP Angel Corporate Finance LLP
Nominated Adviser and Broker |
||
Richard Morrison | +44 (0) 203 470 0470 | |
Caroline Rowe | ||
Peterhouse Capital Limited
Joint Broker |
||
Lucy Williams | + 44 (0) 207 469 0930 | |
Duncan Vasey | ||
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
Note:
The news release may contain certain statements and expressions of belief, expectation or opinion which are forward looking statements, and which relate, inter alia, to the Company’s proposed strategy, plans and objectives or to the expectations or intentions of the Company’s directors. Such forward-looking statements involve known and unknown risks, uncertainties, and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such forward-looking statements. Accordingly, you should not rely on any forward-looking statements and save as required by the AIM Rules for Companies or by law, the Company does not accept any obligation to disseminate any updates or revisions to such forward-looking statements.
Note to Editors:
Tertiary Minerals plc (ticker symbol ‘TYM’) is an AIM-traded mineral exploration and development company building a multi-commodity project portfolio.
Cadence Minerals Plc – Auroch Minerals (ASX: AOU) Identifies Potential Targets at Torrens East Copper Project.
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the update published today by Auroch Minerals (ASX:AOU) ‘Auroch’ on its recently-acquired Torrens East Copper Project (Torrens East). Exploration Licence Applications ELA00159 and ELA00163 comprise 1,622km2, and are considered by Auroch to be highly prospective for IOCG (iron oxide – copper – gold) mineralisation.
An initial review of the South Australian Government’s Mineral Resources aeromagnetic and gravity data, together with available geological and drilling data over the Torrens East licence area has identified a likely eastern extension of the Torrens JV gravity anomaly, which continues into Auroch’s application licence.
Highlights:
- Auroch has completed a review of historical geophysical, geological and drilling data for its Torrens East Copper Project (Torrens East), identifying potential target areas for follow-up exploration.
- The review identified on Auroch’s exploration tenure a likely eastern extension of the large Torrens JV (70% Aeris Resources Ltd; 30% Argonaut Resources NL) gravity anomaly.
- Torrens East has the right geological address with peer exploration encountering IOCG pathfinder minerals, copper sulphides and alteration halos. Recent exploration in the Eastern Gawler Craton includes:
- Torrens JV commenced a $20m drilling programme 6-10km to the west of Torrens East.
- BHP Group’s (BHP) Oak Dam West prospect returned best drilling intercepts: 425.7m @ 3.04% Cu and 0.59g/t Au, including 180m @ 6.07% Cu and 0.92g/t Au.
- Cohiba Minerals announced plans for a drilling programme at its “Horse Well” project 2km from BHP’s Oak Dam West prospect.
- Auroch will continue to advance the Torrens East Project and will provide updates in the coming months
The Torrens East project is located along the eastern margin of the Gawler Craton in South Australia, in a similar regional setting to the Olympic Dam and Carrapateena deposits around the Torrens Hinge Zone, a continent-scale zone of crustal weakness with the potential to act as a conduit to release mineralising fluids from the Earth’s mantle. The Torrens East Copper Project is 1,622km2 of ground considered highly prospective for Iron Oxide Copper–Gold (IOCG) mineralisation. The large exploration licence applications (ELAs) are situated adjacent to the Torrens JV (70% Aeris Resources Ltd; 30% Argonaut Resources NL) approximately 50km from BHP’s recently-announced drilling in the Olympic Dam copper-gold province, host to the world-class Olympic Dam (BHP Group Ltd) and Carrapateena (Oz Minerals Ltd) IOCG deposits.
Cadence currently owns 6.6% of the equity in Auroch Minerals, which is an exploration company targeting principally zinc, cobalt and lithium.
The full release can be found at: https://www.investi.com.au/api/announcements/aou/8adebe01-e6f.pdf
Cadence Minerals CEO Kiran Morzaria commented: “Aidan Platel and his team continue to build the Auroch investment case. As stated in the announcement, recent peer exploration in the region has provided a blueprint for Auroch’s exploration plans, which all contribute towards refining possible future drill targets at Torrens East. We look forward to further developments”
– Ends –
For further information:
Cadence Minerals plc | +44 (0) 207 440 0647 |
Andrew Suckling | |
Kiran Morzaria | |
WH Ireland Limited (NOMAD & Broker) | +44 (0) 207 220 1666 |
James Joyce | |
James Sinclair-Ford | |
Hannam & Partners LLP (Joint Broker) | +44 (0) 207 907 8500 |
Neil Passmore | |
Giles Fitzpatrick | |
Novum Securities Limited (Joint Broker) | +44 (0) 207 399 9400 |
Jon Belliss |
Qualified Person
Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance) from CASS Business School.
Forward-Looking Statements:
Certain statements in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are identified by their use of terms and phrases such as ”believe” ”could” “should” ”envisage” ”estimate” ”intend” ”may” ”plan” ”will” or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors’ current expectations and assumptions regarding the Company’s future growth results of operations performance future capital and other expenditures (including the amount. nature and sources of funding thereof) competitive advantages business prospects and opportunities. Such forward-looking statements reflect the Directors’ current beliefs and assumptions and are based on information currently available to the Directors. Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions competition environmental and other regulatory changes actions by governmental authorities the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. The Company cannot assure investors that actual results will be consistent with such forward-looking statements.
Tertiary Minerals plc (TYM) New Project Acquisition and MB Project Update
Tertiary Minerals plc is pleased to advise that it has staked claim to the Paymaster zinc-copper-silver-Cobalt-Tellurium prospect in Nevada, USA. The Company is also pleased to advise that the next phase of Scoping Study level metallurgical testwork is due to start by the end of February for the MB fluorspar project in Nevada.
Paymaster Project Highlights
- Grab samples assay up to 21% zinc, 6.5% lead, 3.3% copper and 253g/t silver
- Mineralisation intermittently exposed and sampled over 1.7km strike length
- Samples also contain high levels of high-tech metals tellurium and cobalt
- Geophysical exploration planned to define drill targets
MB Fluorspar Project
- Next phase of metallurgical testwork planned at SGS Lakefield, Canada
- Due to start – end February 2019
- Target to produce acid-grade fluorspar and mica
Commenting today, Managing Director, Richard Clemmey said: “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”.
“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”.
Enquiries Tertiary Minerals plcRichard Clemmey, Managing DirectorPatrick Cheetham, Chairman |
+44 (0) 1625 838 679 |
SP Angel Corporate Finance LLP
Nominated Adviser & Broker Lindsay Mair/Caroline Rowe |
+44 (0) 20 3470 0470 |
SVS Securities plc
Joint Broker Elliot Hance |
+44 (0) 203 700 0093 |
Detailed Information
Zinc skarns1 are important not only as a source of zinc, lead, copper, silver and other associated metals but also as indicators of buried porphyry copper and molybdenum deposits. As a class of mineral deposit they include a number of world class zinc-silver deposits such as Antamina in Peru.
The Paymaster skarn mineralisation was originally prospected in the late 1950’s under US Defense Minerals Exploration Administration grant system. A government mining engineer recommended that the project be drill tested, but records suggest this did not take place and no production ensued.
In 1960 it was the subject of a brief publication by the US Geological Survey when zinc rich secondary clay minerals, sphalerite (zinc sulphide), galena (lead sulphide) and magnetite were identified in a pyroxene-garnet-quartz skarn mineral assemblage at the eastern end of the area now claimed by the Company. The prospector scale workings were later described in a Geological Survey of Nevada publication in 1991 by an acknowledged world expert on skarn deposits, Lawrence (Larry) Meinert who, on the basis of his observations, concluded that the Paymaster skarn must be part of a much larger hydrothermal system.
Within the Company’s claim holdings, the skarn mineralisation has recently been traced westward over a total distance of 1.7km in a number of wide spaced and very shallow prospector pits. Seven grab2 samples of the skarn mineralisation exposed in or excavated from the pits average 10.1% zinc (maximum 20.9%), 1.5% lead (max. 6.5%) 134g/t silver (max 253 g/t or 7.3 ounces/ton) and 0.68% copper (maximum 3.4%).
The skarn samples also contain up to 0.11% cobalt (average of 419ppm or 0.045%) and up to 58ppm tellurium (average 31ppm) and 782ppm bismuth (average 315ppm).
Cobalt is in strong demand for use in new generation batteries. Tellurium’s primary use is for manufacturing films for photovoltaic solar cells. When alloyed with other elements, such as cadmium, tellurium forms a compound that exhibits enhanced electrical conductivity. Therefore, a thin film can efficiently absorb sunlight and convert it into electricity.
The mineralised skarn samples were collected largely from one stratigraphic horizon within Cambrian age limestone in contact with shale close to a shale contact and 1 mile south of the limestone contact with the Cretaceous age Lone Mountain granite pluton. Where sampled the skarn appears to be associated with cross cutting faults and the continuity along strike between exposures is currently unknown but pinch and swell is seen on a local scale.
The Company intends to carry out follow up exploration on the Paymaster skarn to identify suitable drilling targets.
Notes:
- For further information on skarn type deposits see:
http://www.science.smith.edu/geosciences/skarn/aboutskarn.html
- Grab samples are often taken during the initial stages of a mineral prospect evaluation and cannot be consider representative of the mineralisation as a whole.
- The information in this release has been compiled and reviewed by Mr. Patrick Cheetham (MIMMM, MAusIMM) who is a qualified person for the purposes of the AIM Note for Mining and Oil & Gas Companies. Mr. Cheetham is a Member of the Institute of Materials, Minerals & Mining and also a member of the Australasian Institute of Mining & Metallurgy.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
Notes to Editors
Tertiary Minerals plc (ticker symbol ‘TYM’) is an AIM-traded mineral exploration and development company building a significant strategic position in the fluorspar sector. Fluorspar is an essential raw material in the chemical, steel and aluminium industries. Tertiary controls two significant Scandinavian projects (Storuman in Sweden and Lassedalen in Norway) and a large deposit of strategic significance in Nevada, USA (MB Project).
CAUTIONARY NOTICE
The news release may contain certain statements and expressions of belief, expectation or opinion which are forward looking statements, and which relate, inter alia, to the Company’s proposed strategy, plans and objectives or to the expectations or intentions of the Company’s directors. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such forward-looking statements. Accordingly, you should not rely on any forward-looking statements and save as required by the AIM Rules for Companies or by law, the Company does not accept any obligation to disseminate any updates or revisions to such forward-looking statements.
Cadence Minerals Plc #KDNC – Director Share Purchases
As announced in December 2017 the Directors all entered into a Defined Director Purchase Programme (“DDPP”) in which they will each purchase £1,000 of ordinary shares per month for 12 months. These shares will be purchased from the market on the first Friday of each month starting on 2nd February 2018 and ending the 4th January 2019. The market will be notified of the purchases on the next trading day via a PDMR; Directors dealing notification. The Directors have entered into a DDPP in an open period and under this programme are therefore committed to the purchase of shares in what otherwise may be a close period. Entering into the DDPP does not preclude the directors from buying additional shares in the Company during open periods. Details of the Director purchases are contained in the table below:
After these acquisitions, the total notifiable share interest in the Company for the directors is as follows
For further information:
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
About Cadence Minerals: Cadence is dedicated to smart investments for a greener world. The planet needs rechargeable batteries on a global scale – upcoming supersized passenger vehicles, lorries and buses – require lithium and other technology minerals to power their cells. Cadence is helping find these minerals in new places and extracting them in new ways, which will meet the demand of this burgeoning market. Cadence invests across the globe, principally in lithium mining projects. Its primary strategy is taking significant economic stakes in upstream exploration and development assets within strategic metals. We identify assets that have strategic cost advantages that are not replicable, with the aim of achieving lower quartile production costs. The combination of this approach and seeking value opportunities allows us to identify projects capable of achieving high rates of return. The Cadence board has a blend of mining, commodity investing, fund management and deal structuring knowledge and experience, that is supported by access to key marketing, political and industry contacts. These resources are leveraged not only in our investment decisions but also in continuing support of our investments, whether it be increasing market awareness of an asset, or advising on product mix or path to production. Cadence Mineral’s goal is to assist management to rapidly develop the project up the value curve and deliver excellent returns on its investments. |
Cadence Minerals #KDNC – Macarthur Minerals (TSX-V: MMS) Acquires New Pilbara Tenement with Historic Base Metal Mineralisation Identified
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (“Macarthur”, TSX-V: MMS) has applied for an Exploration Licence in close proximity to its Macarthur’s Tambourah Lithium Project in the Pilbara Region of Western Australia. A review of historical data indicates the area is prospective for nickel-copper-cobalt and platinum group element (“PGE”) mineralization.
Highlights:
- The newly acquired tenement is ideally situated adjacent to the Company’s Exploration Licences E45/4848 and E45/4702, which comprise the Tambourah Lithium Project.
- The tenement is also in close proximity to West Wits Mining Limited’s Tambina Creek Gold Project where previous exploration reported rock chip samples up to 4.7g/t Au and costean trenching returning 5.7 g/t Au over four meters.
- The tenement also lies approximately 45 km South of Venturex Resources Limited’s Sulphur Springs and Kangaroo Caves Cu-Zn volcanogenic massive sulphide Deposits.
- The tenement sits in the East Pilbara Granite–Greenstone Terrain of the Pilbara Craton, a setting that has been defined prospective for VMS style mineralization.
- The Company recently completed a review of historical data, including a geochemical soil and rock chip sampling program undertaken between 2007 and 2008 Haddington Resources Limited and considers the area to be prospective for nickel-copper-cobalt and PGE minerals.
- The collective geochem anomalies and drill hole results provide several targets worthy of further exploration. Further close spaced geochemical sampling is required along these structures and will be undertaken on grant of the Exploration Licence.
Cadence holds approximately 12% of the issued equity interest in Macarthur, which is an Australian mining exploration company focused primarily on lithium, iron ore and gold in the Pilbara region of Western Australia. It also has the lithium project in Nevada, USA.
The full release can be found at:
https://web.tmxmoney.com/article.php?newsid=7442587847068332&qm_symbol=MMS
Cadence Minerals CEO Kiran Morzaria commented: “Macarthur Minerals already has a sizeable land package of 1,328 km2 in the Pilbara area which is highly prospective for conventional gold and conglomerate gold deposits. The company’s Tambourah Lithium Project has already yielded promising rock chip results up to 1.47% LiO2, so the addition of a new tenement with a solid exploration pedigree in our view further enhances the Macarthur Minerals investment case. We look forward to further updates from Cameron McCall and the Macarthur Minerals team.”
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
– Ends –
For further information:
|
Qualified Person
Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance) from CASS Business School.
About Cadence Minerals:
Cadence is dedicated to smart investments for a greener world. The planet needs rechargeable batteries on a global scale – upcoming supersized passenger vehicles, lorries and buses – require lithium and other technology minerals to power their cells. Cadence is helping find these minerals in new places and extracting them in new ways, which will meet the demand of this burgeoning market. With over £15 million vested in key assets globally, Cadence is helping us reach tomorrow, today.
Cadence invests across the globe, principally in lithium mining projects. Its primary strategy is taking significant economic stakes in upstream exploration and development assets within strategic metals. We identify assets that have strategic cost advantages that are not replicable, with the aim of achieving lower quartile production costs. The combination of this approach and seeking value opportunities allows us to identify projects capable of achieving high rates of return.
The Cadence board has a blend of mining, commodity investing, fund management and deal structuring knowledge and experience, that is supported by access to key marketing, political and industry contacts. These resources are leveraged not only in our investment decisions but also in continuing support of our investments, whether it be increasing market awareness of an asset, or advising on product mix or path to production. Cadence Mineral’s goal is to assist management to rapidly develop the project up the value curve and deliver excellent returns on its investments.
Forward-Looking Statements:
Certain statements in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are identified by their use of terms and phrases such as ‘‘believe’’ ‘‘could’’ “should” ‘‘envisage’’ ‘‘estimate’’ ‘‘intend’’ ‘‘may’’ ‘‘plan’’ ‘‘will’’ or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors’ current expectations and assumptions regarding the Company’s future growth results of operations performance future capital and other expenditures (including the amount. nature and sources of funding thereof) competitive advantages business prospects and opportunities. Such forward-looking statements reflect the Directors’ current beliefs and assumptions and are based on information currently available to the Directors. Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions competition environmental and other regulatory changes actions by governmental authorities the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. The Company cannot assure investors that actual results will be consistent with such forward-looking statements.