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- Nevada continues to shine
- A change in direction for Tertiary Minerals
- Paymaster project shows promise
- Pyramid Project: A golden catch
- Gold and Silver on the rise
Nevada continues to shine
Ranked as the world’s top jurisdiction for mining investment – when it comes to fishing for metals, Nevada looks to be the place to net a winner.
At the beginning of July mining super-heavy-weights Barrick Gold and Newmont Goldcorp announced the official launch of their huge joint gold mining venture in Northern Nevada – marking another prestigious boost for the world-class mining jurisdiction.
Following a visit to the joint projects Nevada Governor Steve Sisolak commented:
“There’s a reason why Nevada is ranked as one of the more attractive jurisdictions in the world for mining investment. It’s not only the geological attractiveness, but that we have a true partnership with the state and federal government in growing a responsible, safe, and beneficial industry for our local communities”
Tertiary Minerals a fresh strategy kick starts with Nevada Prospects
Another company that’s been hooked by Nevada’s outstanding mining opportunities is AIM- traded mineral exploration and development company Tertiary Minerals (AIM:TYM).
Over the last year the company has made a strategic move to broaden its portfolio beyond the existing focus on fluorspar. As well as maintaining projects for the EU listed critical mineral, Tertiary are now aiming to build a multi-commodity project portfolio including precious metals, base metals and industrial minerals.
The company are hopeful that by targeting a number of mining friendly jurisdictions they can provide shareholders with exciting projects capable of generating revenue across a shorter timescale, as well as earlier stage projects which can be developed organically.
With its rich mining history, geology and supportive government the company have set their sights on Nevada to provide this, announcing the acquisition of two new projects in the state; the Paymaster polymetallic project and the Pyramid gold project.
Paymaster project shows promise
Back in February, Tertiary staked claim to the Paymaster zinc-copper-silver-Cobalt-Tellurium prospect, an area of more than 390 acres located approximately 30km south west of Tonopah, Nevada.
The project showed immediate promise with Tertiary revealing that grab samples had produced significant assays up to 21% zinc, 6.5% lead, 3.3% copper and 253g/t silver as well as high levels of high-tech metals tellurium and cobalt. Shareholders were left waiting in anticipation until July for further sample results. But the wait appears to have been well worth it.
Soil sampling revealed two large zones of zinc-silver mineralisation for follow-up exploration, with rock sampling from their Valley Prospect providing assays of 7.5% zinc, 4.3% lead and 180g/t silver.
Richard Clemmey, Managing Director of the Company, commented: “We are pleased to be reporting these two new targets as a result of follow up of our soil sampling results at the Paymaster Project and to be closing in on drill targets at such an early stage in the life of the project.”
Quick to keep developing their portfolio, Tertiary soon set their sights on Gold, securing a 20-year lease (with the option to buy) over a group of nine patented claims in the Walker Lane area.
With Walker Lane rated such a highly prospective area for gold mining,, Tertiary did extremely well to snap up the site. Particularly considering that historic drilling results at hole PYR9 intersected visible gold and assayed 1.52m grading 17.8 g/t Au from 94.5m down hole.
As commented by MD Mr Clemmey “Projects with high-grade gold results in drilling that have not already been followed up are hard to find in Nevada.”
Gold and Silver shine demonstrating safe haven potential
Now looks as good a time as ever for Tertiary to be digging for gold and silver. The precious metals have once again demonstrated their safe-haven qualities during the recent periods of economic uncertainty.
Earlier in August gold prices surged through $1,500 a troy ounce for the first time in over six years, whilst silver broke above the $17 a troy ounce mark for the first time since the 14th June 2018. These results perhaps a demonstration of the unique security that gold and silver stocks can offer during economic slowdowns.
Meanwhile, Tertiary will be pleased to hear that Commerzbank’s raw materials analyst Daniel Briesmann has predicted that prices for the metal are on the up. He’s forecast a three-month price of $2,800 per tonne at the end of 2019. Zinc is currently at around $2,260 per tonne.
“I don’t see production coming back onto the market at current levels, so I think we will see a supply deficit, which has already been recorded for the first months of the year” said Briesmann.
Tertiary a bargain
All said, sat just above it’s lowest price of 0.18p, at just 25p, Tertiary looks to be a bargain catch for investors, and offering significant upside potential.
As well as the two highly promising additions discussed, Tertiary’s portfolio includes three strategic fluorspar deposits located in Europe and the USA containing JORC compliant Mineral Resources of over 13 million tonnes of fluorspar mineral.
Fluorspar is an EU listed critical mineral used primarily in metallurgical, ceramics, and chemical industries; as well as for, optical, lapidary, and other important uses.
However, it’s Tertiary’s Paymaster and Pyramid projects which I’d recommend keeping your eyes on. As news starts to flow from these projects and investors catch on I’d expect to see the share price jump.
Back to our analogy ‘fishing for metals’.. always remember, good things come to those who bait! Sorry, I mean wait. These projects are in their early stages. So set out your camping chair, cast your lines and wait to reel it in.
By Harry Dacres-Dixon
Brand Communications – Treasure Hunting in Nevada with Tertiary Minerals (TYM): Walker Lane marks the spot for gold
Brand Communications – Tertiary Minerals plc (TYM) New Project Acquisition and MB Project Update
Brand Communications – Tertiary Minerals (TYM) – New Project Acquisition in the Pyramid Mining District of Nevada, USA
Fastmarkets AMM – Analysts divided on 2019 zinc price forecast
Financial Times – Gold prices top $1,500 as haven rally accelerates
Kitco – Gold and Silver Prices Explode to the Upside
By Harry Dacres-Dixon
- Treasure hunting in Nevada
- Walker Lane: The treasure chest you’ve been looking for
- Tertiary Minerals kick start their hunt for gold
- Gold in Walker Lane not drying up anytime soon
Treasure hunting in Nevada
Ahoy, me hearties! If you’re planning on going hunting for hidden treasures anytime soon, Nevada might be a good place to start. The state ranked as the top jurisdiction in the world for investment according to the Fraser Institute Investment Attractiveness Index. An outcome of both it’s geological attractiveness and the effects of government policy on attitudes toward exploration investment.
It’s no surprise either. The area has world class infrastructure and has been a prolific producer of key metals including copper, cobalt, lithium silver and gold. When it comes to gold, Nevada is up there with the best of them. In fact, if Nevada were a country, it would be the world’s fourth-largest gold producer, behind only China, Australia and Russia.
Walker Lane: The treasure chest you’ve been looking for
Its success lies significantly in three regions Carlin, Cortez and Walker Lane. Whilst the Carlin region has previously taken the headlines, it’s the Walker Lane trend which looks capable of delivering the next big pot of gold.
The Walker Lane is a geologic trough than runs roughly in line with the border between California and Nevada, where the North American Plate meets the Pacific Plate. As well as a significant producer of silver and copper, the mineral belt is host to a number of past and current multi-million-ounce epithermal gold deposits.
Its history stretches back to the late 1850s with the discovery of the famous Comstock Lode. The gold belt holds some of North America’s most crucial mining districts including Comstock, Tonopah, Goldfield, Bullfrog and Aurora.
It’s currently being explored by the likes of Kinross and Barrick at the producing Round Mountain Mine, Gryphon Gold at the Borealis Mine, Newcrest Mining at the Redlich project and Coeur Mining at their Sterling Mine which holds a total inferred resources of 709,000 ounces.
A study by data mining and mineral exploration specialists BW Mining found that, to date, approximately 50 million ounces of gold had been discovered in an area covering roughly 140,000 square kilometres.
For junior gold hunters in Nevada, the Walker Lane Gold Belt offers miners a significantly cheaper exploration target than in Carlin, where sites not already snatched up by the big players are typically deep and out of financial reach for newcomers.
In contrast, Walker Lane remains underexplored offering substantial potential upside. The area is also already known to hold outstanding high-grade gold zones such as at Newrange Golds Pamlico gold project, compared to the Carlin Trend which is generally mining ore less than a gram per tonne.
Sounds like an ideal location to go hunting for gold I’d say. And so Tertiary Minerals (TYM) feel too. The AIM-traded mineral exploration and development company announced at the end of May that it was joining the party in Walker Lane, securing a 20-year lease (with the option to buy) over a group of nine patented claims in the area.
The acquisition falls “in line with our strategy to build a new project portfolio which will enable the Company to reduce its future geographical, technical, permitting and commodity risk exposure and provide long-term shareholder value” said MD Richard Clemmey.
Their sites situated in the Pyramid Mining District lies at the Northwest end of the Walker Lane, 40km away from Reno. The company reported that the area has undergone limited exploration in 1989-90.
As part of their announcement, TYM revealed that drilling at hole PYR9 had intersected visible gold and assayed 1.52m grading 17.8 g/t Au from 94.5m down hole. Shiver me timbers!
Mr Clemmey as would be expected was rather happy to deliver the news, commenting: “We are delighted to have acquired an interest in the Pyramid Project. Projects with high-grade gold results in drilling that have not already been followed up are hard to find in Nevada.
Gold in Walker Lane not drying up anytime soon
The move looks an intelligent one for TYM. Whilst Nevada is famous for its droughts, gold supplies in Walker Lane don’t look like they’ll be drying up anytime soon.
This acquisition is just the first step though. Let’s hope that X marks the spot for Tertiary and their next series of announcements reveal some serious treasures.
BW Mining Walker Lane
Coeur Mining Sterling, Nevada
Fraser Institute Annual Survey of Mining Companies, 2018
Investing News Nevada’s Walker Lane Gold Trend Ripe for Discovery
TSX Media Nevada Gold Explorer’s Big Exploration Plans Paying Off
321 Gold Treasures of the Walker Lane