Home » Posts tagged 'kinross gold'

Tag Archives: kinross gold

Tertiary Minerals #TYM – Kaaresselkä Gold Royalty Development

Tertiary Minerals plc is pleased to note the announcement today by TSX listed Aurion Resources Ltd of encouraging results from Aurion’s Maiden Drill Program at the Kaaresselkä Gold project where Tertiary holds a number of royalty interests.

Drill intercepts include:

  • 52 g/t Au over 2.85 m (KS20001 from 306.50 m down hole) and
  • 85 g/t Au over 5.40 m (KS20002 from 199.00 m down hole); and
  • extend the gold mineralized zone to ~200 m depth and to ~600 m strike length at Vanha target.

Details of the drill programme and Tertiary’s royalty interests can be found in Tertiary’s announcements of 3 September 2020 and 6 October 2020 and in the detailed information below.

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.

Detailed Information

Aurion completed a maiden 12-hole, 2,401.3 m diamond core drilling program testing four targets (Vanha, Lampi South, Lampi North, Tienvarsi) within the Kaaresselkä prospect area (2.0 km by 1.0 km). The program was designed to test the potential strike and depth extensions of previously identified mineralized zones, which were largely limited to 50-150 m from surface, as well as targets identified from re-interpretation of historic exploration data.

The locations of drill holes can be seen in the following link and a list of results is provided in the following table.


Kaaresselkä Drillhole Highlight Summary Table
Hole ID Azimuth Dip From (m) To (m) Width (m) Au (g/t) Target Area Comments
KS20001 179.8 -50.0 40.70 41.35 0.65 0.93 Vanha 1.08 % Cu
AND     85.85 88.95 3.10 0.26   1.20 % Cu
AND     296.40 297.55 1.15 1.71    
AND     306.50 309.35 2.85 1.52    
incl     307.70 309.35 1.65 2.36    
KS20002 359.9 -49.4 199.00 204.50 5.50 1.85 Vanha  
incl     199.00 199.95 0.95 8.91    
KS20003 180.4 -45.2 45.75 49.75 4.00 1.27 Vanha  
KS20004 335.1 -55.2 101.95 102.90 0.95 1.28 Lampi S  
KS20005 24.7 -50.4       NSV Lampi N  
KS20006 30.3 -45.0       NSV Tienvarsi  
KS20007 30.4 -54.7 81.95 82.80 0.85 3.22 Tienvarsi 0.8 % Cu
KS20008 224.7 -45.2       NSV Lampi N  
KS20009 220.7 -44.8       NSV Lampi N  
KS20010 224.4 -44.7       NSV Tienvarsi  
KS20011 220.9 -44.6       NSV Lampi N  
KS20012 14.2 -48.0       NSV Lampi S  
Intercepts reported at 1 g/t gold or 1 % Cu cut-off. All assay values are uncut.  
All widths are core widths.  True width is not known at this time.  NSV = No Significant Value



Vanha Target

KS20001 targeted the depth extensions of historic gold intercepts (4.88 g/t Au over 2.0 m, 1.2 g/t Au over 1.0 m and 1.21 g/t Au over 4.0 m) at shallow depths (max 50 m). The drill hole intersected a wide (~200-300 m down hole length) zone of strongly altered (silicification and carbonatization) and sheared mafic volcanic rocks and graphitic sediments returning gold intercepts of 1.71 g/t Au over 1.15 m from 296.40 m down hole, 1.52 g/t Au over 2.85 m, and several intervals with elevated (>0.1 g/t) gold values. The mineralized zone is interpreted to be subvertical and continue to at least 230 m vertical depth. The drill hole also intersected previously unknown parallel zones of alteration and deformation that returned 0.93 g/t Au and 1.08% Cu over 0.65 m from 40.70 m down hole and 0.26 g/t Au and 1.20 % Cu over 3.10 m from 85.85 m down hole.

KS20002 was collared along a profile ~60 m to W from KS20001 and targeted the depth extension of gold mineralized zones identified in historic exploration. The drill hole intersected 1.85 g/t Au over 5.50 m from 199.00 m down hole including 8.91 g/t Au over 0.95 m from 199.00 m down hole within a wider zone of strongly deformed and altered mafic volcanic rocks and graphitic schists.

KS20003 was collared ~300 m to E from KS20001 to test the strike extension of the EW trending structural trend. The drill hole returned an intercept of 1.27 g/t Au over 4.00 m within a wider zone of strongly deformed and altered mafic volcanic rocks and graphitic schists. The gold mineralized trend is open and untested towards east.

The three drill holes extended the gold mineralized zones to 200 m depth and 600 m strike length along the east-west trending structural corridor coinciding with the Sirkka Shear Zone. The mineralization at Vanha is open to depth and towards east.

Lampi South, Lampi North, and Tienvarsi

Drill holes KS20004-KS20012 tested several gold indications in the western part of the Kaaresselkä prospect area. Several drill holes intersected zones of altered and deformed mafic volcanic and sedimentary rock units with varying levels of gold ranging from nil to ~3 g/t Au over narrow widths.

Quality Assurance and Quality Control

All samples were delivered to ALS preparation facility in Sodankylä, Finland where sample preparation work was completed. All analytical work was completed at ALS facility in Loughrea, Ireland and Rosia Montana, Romania. ALS is an internationally accredited lab and are ISO compliant (ISO 9001:2008, ISO/IEC 17025:2005). All samples were analysed for gold using the Au-AA26 procedure (50 g fire assay with AAS finish: Lower Detection Limit (“LDL”) 0.01 g/t gold; Upper Detection Limit (“UDL”) – 100 g/t gold).  Multi-element analysis (ME-ICP61, four-acid digestion, 35 element ICP-AES) was completed on all samples. Certified standards and blanks were inserted every 20 samples. ALS has its own QA/QC protocol using standards, blanks and duplicates.

Note :

The information in this release has been taken from a news release made by Aurion Resources Ltd on 3 December 2020 and has been compiled 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.


Note to Editors:


Tertiary Minerals plc (ticker symbol ‘TYM’) is an AIM-traded mineral exploration and development company building a multi-commodity project portfolio.

Tertiary Minerals #TYM – Kaaresselkä Gold Royalty

Tertiary Minerals plc is pleased to note the announcement yesterday, 2 September 2020, by TSX listed Aurion Resources Ltd (“Aurion”) that it has mobilised two drill rigs to test various gold targets in Finland, including the Kaaresselkä Project in Finland where Tertiary holds various royalty interests.

Kaaresselkä is an advanced gold exploration project located approximately 4 km south of Aurion’s bonanza grade Aamurusko Main gold discovery. Kaaresselkä was originally discovered through base-of-till sampling by the Finnish Geological Survey (GTK) in 1987 and was drilled by both GTK and Tertiary with 127 historical drill holes having been completed, mostly to depths less than 100 m. Drilling results included 11.01 g/t Au over 4.90 m. 

Aurion, which is backed by Kinross Gold Corp. and B2 Gold Corp., has announced that it will drill 2,000m at Kaaresselkä to confirm historical drilling and to test the mineralised structure at depth and along strike. Results will be released once assays are available.

Tertiary sold the Kaaresselkä Project, together with the nearby Kiekerömaa Project to Aurion in March 2017 but, importantly, retains a number of royalty interests in the Kaaresselkä and Kiekerömaa Projects as follows:

  • Pre-production royalty of US$1.00/ounce gold following the definition of a NI 43-101 (or equivalent) code compliant Inferred Mineral Resource Estimate on either project;
  • Pre-production royalty of US$2.00/ounce gold following the definition of a NI 43-101 (or equivalent) code compliant Indicated Mineral Resource Estimate on either project;
  • Pre-production royalty of US$3.00/ounce gold following the definition of a NI 43-101 (or equivalent) code compliant Measured Mineral Resource Estimate on either project; and
  • Net smelter returns royalty (NSR) of 2% on all future gold production from either property.

Aurion can purchase 50% of the NSR from Tertiary for USD$1,000,000 at any time prior to commencement of commercial production on either project.

Commenting today, Executive Chairman Patrick Cheetham said:

“I am delighted to see the re-start of drilling at Kaaresselkä after such a long break. The recent high-grade gold discoveries at the nearby Aamurusko deposit and in the wider Risti Project area bode well for the future development of Kaaresselkä and the realisation of our royalty interests which I suspect have been overlooked by the market. We wish Aurion every success with their drilling.”

For more information please contact:

Tertiary Minerals plc:
Patrick Cheetham, Executive Chairman+44 (0) 1625 838 679         
SP Angel Corporate Finance LLPNominated Adviser and Broker 
Richard Morrison+44 (0) 203 470 0470 
Caroline Rowe  
Peterhouse Capital LimitedJoint 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.

Additional Information :

Since acquiring the Kaaresselkä Project from Tertiary, Aurion’s work on the project has included re-logging of all drill holes, oriented core measurements, a detailed ground magnetic survey, whole rock geochemistry, GIS compilation and integration of historical data into 3D modelling software. This compilation work has allowed for a reinterpretation of the geology and a better understanding of the property’s potential. The main host lithology is strongly altered and sheared mafic volcanics, which is a classic setting for major orogenic gold deposits.

Three individual zones, Vanha, Tienvarsi and Lampi, are found in a 1 km x 0.6 km area. Historical drilling was shallow with gaps along the strike of the zones. Aurion’s additional analysis suggests there is excellent potential along strike and down dip of these gold-bearing structures.

At Vanha, a 500 m long east-west trending mineralized zone was drilled to a depth of 140 m and appears to be open in both directions along strike and at depth.

At Tienvarsi, drilling identified a 400 m long northwest to southeast trending mineralized zone to a depth of 96 m. Mineralization at Tienvarsi appears to be open in all directions.

At Lampi, drilling identified two proximal 200 m long mineralized zones to only 100 m depth. Mineralization at Lampi appears to be open in all directions.


  1. 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.
  • 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

Nevada’s Walker Lane Gold Trend Ripe for Discovery – Gold Investing News – Tertiary Minerals #TYM

Some of the world’s most important gold mining districts are found in Nevada’s three major northwest trending belts: the Carlin trend, the Cortez trend and the Walker Lane trend.

Together these three trends have contributed the most to the nearly 170 million ounces of gold produced in Nevada between 1835 and 2018. While Nevada’s long gold mining history and prolific production may lead some to believe all the low-hanging fruit has been picked, there still exists plenty of upside and the potential for new discoveries in the Walker Lane trend.

Nevada: Where the world goes for gold

Nevada ranks as the world’s third top mining jurisdiction and fifth largest gold producer. The state owes its top dog status to its immense mineral wealth, well-established infrastructure and stable regulatory environment. Transparent, easy-to-navigate regulations and permitting processes, and an attractive tax regime with a low net profits tax and no income tax are all very inviting for the world’s gold miners. Global giants Newmont Mining (NYSE:NEM), Barrick Gold (TSX:ABX,NYSE:GOLD) and Kinross Gold (TSX:K,NYSE:KGC) all have producing mines in the state.

Walker Lane gold trend: Future of gold mining in Nevada

The Carlin trend may have generated the most heat in the Nevada desert over the past decades when it comes to gold, but most of the best properties are already controlled by majors Newmont, Barrick and Kinross. The high cost of exploring for the often blind and deeper targets that remain on the trend is a big turn off for junior explorers. Today’s mineral exploration companies looking for the next big play are staking claims in one of the state’s other prominent gold trends, the Walker Lane, which offers less expensive exploration with the added upside of plenty of blue sky potential in a relatively underexplored landscape with known high-grade potential.

The north-west trending Walker Lane, one of the largest structural lineaments in Nevada, has played an integral role in the history of the state beginning with the 1859 discovery of the Comstock Lode, representing 8.5 million ounces of gold and about 400 million ounces of silver. The lure of all that wealth led to the gold rush that would eventually build up Nevada’s population enough to earn statehood in 1864.

Unlike the Carlin trend, where most mines are producing ore of less than a gram of gold per tonne, Walker Lane stands out with exceptional high-grade assays. In fact, Walker Lane hosts a number of high-grade districts including Tonopah and Goldfield. Also in the region is Kinross’ Round Mountain mine, which produced approximately 437,000 ounces of gold equivalent in 2017. The giant gold mine’s current reserves plus past production total 29 million ounces of gold. Other prolific mines in the area include Mineral Ridge with 4 million ounces of gold and 6.4 million ounces of silver; and Bullfrog with 3.7 million ounces of gold and 4.6 million ounces of silver.

Promising projects in the Walker Lane gold trend

A few recent successes at Walker Lane include Northern Empire’s US$90 million acquisition by Coeur Mining (NYSE:CDE) in 2018 on the basis of the Sterling gold project, which hosts four distinct deposits including a fully-permitted, open-pit mine set to become one of the highest-grade heap leach mines in the Western United States.

Corvus Gold (TSX:KOR,OTCQX:CORVF) is focused on its near-term North Bullfrog and Mother Lode gold-silver mining projects near Beatty, Nevada. Results from exploration drilling at Mother Lode continue to show high potential for expanding the deposit and raising the possibility of identifying a much larger mineralization system. Corvus’ success has attracted C$2 million in additional funding for resource expansion programs at both Mother Lode and North Bullfrog.

Newrange Gold’s (TSXV:NRG,OTC Pink:NRGOF) Pamlico gold project represents another high-grade, district-scale opportunity on the Walker Lane trend. The project includes the historic Pamlico Mines on Pamlico Ridge, together with the Central, Sunset, Good Hope, Gold Bar and various unnamed mines and prospects. The 1,670-hectare property has been in private hands since 1896 with less than half of 1 percent of the property ever touched by a modern exploration drill. Newrange acquired Pamlico in 2016 and since then has launched an aggressive exploration campaign which has resulted in numerous drill intercepts of near surface oxide gold mineralization to 340 grams gold per metric tonne.

Newrange is advancing the project toward a resource estimate. In February 2019, the company completed preliminary metallurgical testing which achieved gold extractions as high as 97.1 percent and calculated head grades as high as 79.4 grams gold per metric tonne. These grades were substantially higher than what was originally indicated by drill sample assays, suggesting the potential for a much larger and potentially heap leachable gold system at Pamlico.

Brand Communications – Tertiary Minerals (AIM: TYM) announced that it had secured exploration rights and an option to purchase a group of claims in the Pyramid Mining District of Nevada on May 28th 2019. The project is located 25 miles northwest of Reno and is easily accessible by sealed highway. Full details here


The recent discoveries and continued resource expansion along Nevada’s Walker Lane gold trend is a great example of what the state’s mineral largess still has to offer for gold exploration companies and their shareholders.

Article by Melissa Pistilli, Gold Investing News

I would like to receive Brand Communications updates and news...
Free Stock Updates & News
I agree to have my personal information transfered to MailChimp ( more information )
Join over 3.000 visitors who are receiving our newsletter and learn how to optimize your blog for search engines, find free traffic, and monetize your website.
We hate spam. Your email address will not be sold or shared with anyone else.