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#POW Power Metal Resources – New Copper Anomalies Identified – Garfield Nevada

 

Positive Findings from Satellite Imagery Analysed over Garfield Property; Additional Claims Staked to Cover New Target Areas

Power Metal Resources PLC (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces the results from recently completed satellite imagery analysis over the Garfield Property (“Garfield” or the “Property”) located in the prolific Walker Lane Mineral Belt in Nevada, USA.

HIGHLIGHTS:

–  Analysis of Advanced Spaceborne Thermal Emission and Reflection Radiometer (ASTER) and European Space Agency Sentinel-2 datasets has been undertaken by global image processing expert Dr. Neil Pendock from Dirt Exploration based out of Cape Town, South Africa.

–  This analysis identified two strong anomalies, prospective for copper mineralisation, as evidenced by detailed mathematical analysis of spectral end members that correlate with known copper mineralistion in the area.

–  The new anomalies are located over 1km and 1.5km away from the main Garfield showings, expanding the potential copper mineralisation footprint significantly.

–  Additional claims have now been staked to cover the identified anomalies, increasing the claims held at the Property from three to eleven claims.

–  The Power Metal technical team is reviewing other strong anomalies near to the newly expanded Property which were identified by the satellite imagery analysis.

A map highlighting the newly acquired ground, as well as the copper anomalies identified by the analysis can be found at the following link:

https://www.powermetalresources.com/garfield-project/  

 

Paul Johnson, Chief Executive Officer of Power Metal Resources plc, commented:

“Power Metal is grateful to Dr Pendock for his work which has led to the identification of prospective copper anomalies at our 100%-owned Garfield Property

This has been achieved by deploying the latest satellite imagery analysis techniques, undertaken at reasonable cost and is a material outcome from initial exploration work.

Given the findings we have intensified our exploration activities at Garfield and look forward to further updating shareholders with the outcomes from this exploration work.”

 

WORK UNDERTAKEN

Analysis of various datasets including Japanese Aster and European Space Agency Sentinel-2 was undertaken.  These datasets offer high spatial resolution visible/near infrared (VNIR), shortwave infrared (SWIR) and longwave infrared (LWIR) imagery.

The analysis was completed by global image processing expert Dr. Neil Pendock from Dirt Exploration based out of Cape Town, South Africa. As a result of the findings, additional staking has now been completed which cover two anomalies identified by the satellite analysis.

The Japanese Aster thermal camera (longwave infrared) allows for remote mapping of mobile metal ions within the earth’s upper unconsolidated bedrock and loose soil (regolith) using the emissitivity properties of minerals within the regolith.

This type of analysis is extremely well suited to Nevada, and specifically within the Walker Lake Mineral Belt (WLMB) due to the lack of vegetative cover over most of southwestern Nevada.

Detailed spectral analysis of approximately 380,000-hectares within the WLBM, cross-referenced with hundreds of known mineral occurrences mapped by the United States Geological Survey, allows for the determination of several spectral end-members which are well correlated with copper deposits within the area.

Specifically, spectral end-members represented by the minerals Serpentine (weathering product of ultramafic mireals) and Jarosite (formed by the oxidation of iron sulfides) were determind to have a strong correlation with known copper deposits within the WLMB. Serepentine is a weathering product of ultramafic minerals, and is a well known mineral associated with skarn-type mineralisation, which the Garfield Property is highly prospective for.

By amalgamating the various spectral endmembers associated with copper deposits in the region, areas highly prospective for copper mineralisation, including skarn-type mineralisation, were mapped across Garfield and within the surrounding areas.

Two strong anomlies (shown as warmer colours on map) were identified over 1km (Anomaly A), and 1.5km away (Anomaly B) from the main Garfield showings. Historic rock sampling proximal to these anomalies returned up to 2.6% Copper, and 5.53% respectively – further proving up the accuracy of the analysis completed. Interestingly, the copper indicators at the newly discovered Anomaly A and B are much stronger than dispalyed at the original Garfield showing, suggesting mineralisation may be stronger and more prospective in these newly acquired areas.

Claims have now been staked to cover these areas identified, and the company is reviewing other strong anomalies near to the newly expanded Property which were identified by the analysis which lie on ground currently open for staking.

 

OWNERSHIP STRUCTURE – GARFIELD PROPERTY

Power Metal’s wholly owned subsidiary Golden Metal Resources Limited, a UK company (“Golden Metal UK), holds a 100% interest in the Garfield Property through its wholly owned Nevada operating company, Golden Metal Resources LLC.

Golden Metal UK is currently seeking a listing on the London markets.

The acquisition of a 100% interest in the Garfield Property was announced on 17 June 2021, details of which can be found below:

https://www.londonstockexchange.com/news-article/POW/acquisition-of-gold-copper-projects-nevada-usa/15020989

 

COMPETENT PERSON STATEMENT

The technical information contained in this disclosure has been read and approved by Mr Nick O’Reilly (MSc, DIC, MIMMM, MAusIMM, FGS), who is a qualified geologist and acts as the Competent Person under the AIM Rules – Note for Mining and Oil & Gas Companies. Mr O’Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Power Metal Resources PLC to provide technical support.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.

For further information please visit https://www.powermetalresources.com/ or contact:

Power Metal Resources plc

Paul Johnson (Chief Executive Officer)

+44 (0) 7766 465 617

SP Angel Corporate Finance (Nomad and Joint Broker)

Ewan Leggat/Charlie Bouverat

+44 (0) 20 3470 0470

SI Capital Limited (Joint Broker)

Nick Emerson                                                                                                           

+44 (0) 1483 413 500

First Equity Limited (Joint Broker)

David Cockbill/Jason Robertson

+44 (0) 20 7330 1883

#TYM Tertiary Minerals plc – Pyramid Silver Discovery Extended

Tertiary Minerals plc (AIM: TYM) is pleased to report an update from its Pyramid Silver-Gold Project in Nevada, USA, where analytical results from the Company’s recently completed Phase 2 trenching has extended the strike and width of recently discovered silver mineralisation at North Ruth.

Highlights:

· The second phase of trenching has confirmed and extended the existing discovery;

· Silver and gold mineralisation has now been shown to extend over a strike extent of at least 530m;

· Trench 1 EXT, an extension to trench 1, revealed a zone width of up to 59 metres;

· Grades as high as 595g/t silver (17.35 ounces/ton) and 0.66g/t gold were intersected. 

Commenting today, Managing Director Patrick Cullen said: “The results reported today from Pyramid highlight a significant zone of silver mineralisation with a target strike length of at least 530 metres.”

“We have also delineated a zone up to 50 metres thick at surface, with some high-grade silver results and significant complementary gold.”

“North Ruth is an attractive drill target and we look forward to reporting further progress on this exciting discovery.”

Results:

Thickness

Silver

Gold

From

To

(m)

(g/t)

(oz/ton)

(g/t)

(m)

(m)

Trench 1 EXT

58.98

73.39

2.14

0.13

23.62

82.60

Includes

3.35

218.45

6.37

0.25

27.43

30.78

Includes

2.13

595.00

17.35

0.66

72.85

74.98

Trench 7

2.44

64.39

1.88

0.47

22.40

24.84

Trench 8

26.80

37.16

1.08

0.12

19.51

46.33

Includes

6.09

101.50

2.96

0.26

31.09

37.19

Trench 8

6.09

1.10

0.03

0.73

85.344

91.44

A summary of significant results1 is shown in the table above. The location of the trenches and intersections outlined in this news release are shown on Maps 1 and 2, which may be accessed here http://www.rns-pdf.londonstockexchange.com/rns/0147P_1-2021-10-13.pdf or on the Company website. Further detailed information may be found below.

For more information please contact:

Tertiary Minerals plc:

Patrick Cullen, Managing Director

+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

#POW Power Metal Resources – Tati Project Botswana – Drill Programme Commences

 

pow

Power Metal Resources PLC (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces that the company’s inaugural drilling programme is now underway on the Tati Project located in the Tati Greenstone Belt near Francistown, Botswana (the “Project”).  The Project is targeting large scale gold and nickel discoveries.

Paul Johnson, Chief Executive Officer of Power Metal Resources plc commented:

“The launch of this inaugural drill programme at the Tati Project in Botswana is a great step forward for the Company.  The stunning pace of ground exploration at the Project has been matched by the positive findings to date and notably several multi-kilometre geochemical anomalies.

Drilling at such an early stage demonstrates our confidence in the Project and our sense of urgency to better understand the geology of several high-priority target areas. With successful exploration, Tati Project could become one of the leading projects in our portfolio.”

 

Highlights:

 

 

Drill Programme

Approximately 1,000m of reverse circulation (“RC”) drilling is planned across multiple target zones which is being undertaken by Power Metal’s drill partners Equity Drilling Ltd and Mindea Exploration and Drilling Services (Pty) Ltd.

All drill holes as part of this programme are planned for depths between 50 – 100m. RC drilling provides a inexpensive, and rapid testing method which is well suited for an early-stage drilling campaign.

The RC chip samples collected will be sent to Intertek Group plc’s laboratory located in Perth, Australia, for Fire Assay and multi-element analysis

 

Exploration to Date

Exploration on the Project has advanced at a rapid pace to its current stage since Power metal exercised its option to acquire a 100% interest in the Project on 28 July 2021.

To date, exciting multiple kilometre-scale arsenic, gold and nickel, as well as magnetic anomalies have been identified by geochemical sampling and ground-based geophysical surveys.

 

 

 

Rationale for Early Drilling

Kalahari sands which blanket the majority of the Project have precluded widespread geological mapping and prospecting, as a result the Company has decided to launch the drilling campaign in order to obtain bedrock RC chip samples from the various target areas below Kalahari sand cover.

The main goal of the drill programme is to test for the presence of the geological formations which host many of nearby historic and currently operating gold and nickel mines within the Tati Greenstone Belt.

The laboratory assay results, combined with geological logging of the RC bedrock samples will provide the company important geological information which will help guide future exploration and drilling campaigns on the Project.

PROJECT BACKGROUND

Power Metal exercised an option to acquire a 100% interest in the Project on 28 July 2021, through its local wholly owned operating subsidiary. Details of the option exercise can be found below.

https://www.londonstockexchange.com/news-article/POW/tati-project-botswana-option-exercised/15075700

PHASE I EXPLORATION

 

A total of 1,107 soil samples and 49 rock samples were collected across five select areas as part of the Phase I programme at the Project which was orginally announced by the Company on 28 June 2021:

https://www.londonstockexchange.com/news-article/POW/tati-project-botswana-exploration-commences/15036117

The first batch of results were analysed utilising a portable field X-ray Fluorescence (“XRF”) spectrometer, and from this work multiple large scale nickel and arsenic soil anomalies were announced by the Company on 19 August 2021:

https://www.londonstockexchange.com/news-article/POW/tati-project-large-scale-anomalies-confirmed/15104018

The second batch of results including 380 soil samples from Grid 1 (or the “Sikukwe Zone”), and 49 rock samples which were analysed by fire assay for gold at Intertek Group plc’s laboratory located in Perth, Australia. The results of this programme were announced by the Company on 14 September 2021:

https://www.londonstockexchange.com/news-article/POW/tati-project-large-scale-gold-anomaly-confirmed/15133545

PHASE II EXPLORATION

The phase II geophysics programme is nearing completion with surveys now finished on Grids 3, 4 and 5. A final survey over the Sikukwe Zone will be completed within the coming days. The preliminary results and findings from this Phase II exploration have been used for the planning of the ongoing RC drilling programme.  Further information in respect of the Phase II programme is available in the Company’s announcement dated 26 August 2021:

 

https://www.londonstockexchange.com/news-article/POW/tati-project-botswana-exploration-update/15112960

 

COMPETENT PERSON STATEMENT

The technical information contained in this disclosure has been read and approved by Mr Nick O’Reilly (MSc, DIC, MIMMM, MAusIMM, FGS), who is a qualified geologist and acts as the Competent Person under the AIM Rules – Note for Mining and Oil & Gas Companies. Mr O’Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Power Metal Resources PLC to provide technical support.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.

For further information please visit https://www.powermetalresources.com/ or contact:

Power Metal Resources plc

Paul Johnson (Chief Executive Officer)

+44 (0) 7766 465 617

SP Angel Corporate Finance (Nomad and Joint Broker)

Ewan Leggat/Charlie Bouverat

+44 (0) 20 3470 0470

SI Capital Limited (Joint Broker)

Nick Emerson                                                                                                           

+44 (0) 1483 413 500

First Equity Limited (Joint Broker)

David Cockbill/Jason Robertson

+44 (0) 20 7330 1883

#MNRG MetalNRG PLC – Issue of Equity

 

MetalNRG (LON:MNRG), the natural resource investing and exploration company, announces that 25,000,000 new MetalNRG Ordinary Shares (“New Shares”) have been issued at 0.45 pence per share (total value £112,500) in satisfaction of certain obligations relating to an unsecured loan facility.

 

Admission of New Shares to trading on the Main Market of the London Stock Exchange

Application will be made for the New Shares to be admitted to listing on the Standard segment of the Official List and trading on the London Stock Exchange’s Main Market for listed securities (“Admission”). Admission of the New Shares is expected to occur on or around 11th October 2021.

The New Shares will rank pari passu with the existing ordinary shares of the Company.

Total Voting Rights

For the purposes of the Financial Conduct Authority’s Disclosure and Transparency Rules (“DTRs”), following the issue of the New Shares referred to above, the issued ordinary share capital of MetalNRG will consist of 1,035,219,460 ordinary shares with voting rights attached (one vote per share). There are no shares held in treasury.  This total voting rights figure may be used by shareholders as the denominator for the calculation by which they will determine whether they are required to notify their interest in, or a change to their interest in, MetalNRG under the DTRs.

 

The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014:

For the purposes of  UK MAR, the person responsible for arranging for the release of this announcement on behalf of the Company is Rolf Gerritsen, Chief Executive Officer.

 

END

 

Contact details:

MetalNRG PLC
Christopher Latilla-Campbell

Rolf Gerritsen


+44 (0) 20 7796 9060

Corporate Adviser
PETERHOUSE CAPITAL LIMITED
Lucy Williams

Duncan Vasey

+44 (0) 20 7469 0930

Corporate Broker
SI CAPITAL LIMITED
Nick Emerson

+44 (0) 1483 413500

 

#POW Power Metal Resources – Quarterly Business Operational Update

pow

Power Metal Resources PLC (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces the September quarterly business operational update for shareholders.

Paul Johnson, Chief Executive Officer of Power Metal Resources plc, commented:

“We consider Power Metal to be a global project with thirteen project packages across three continents and targeting nine precious, base and strategic metals.

At the heart of our business is resource prospect generation, targeting district scale resource opportunities for internal development or value crystallisation.

Look below and you will see the results of our work to date and the potential the Power Metal business offers.

As a longstanding private investor and public company director in the junior resource space I often encounter the frustrations and the jubilations offered by a cyclical market.

Our duty, notwithstanding market conditions, is to remain focused, to continue to build and, above all, to justify shareholders’ trust in Power Metal through quantifiable delivery.”

 

Note: in addition to the material presented below, investors are guided to the Power Metal corporate presentation which is available on the Company’s website through the following link:

https://www.powermetalresources.com/presentation/

PROJECT OPERATIONS UPDATE

The tables below provide the latest status of each project within the Company’s portfolio and include:

–  Exploration project updates from African, North American and Australian interests;

 

–  Corporate development updates for project packages advancing towards spin-out into their own listed vehicles as part of the Company’s crystallisation objectives;

 

–  Further updates in respect of Power Capital Investments Ltd, the Company’s wholly-owned new project incubator;

 

–  Additional management and financial information for shareholders.

African Exploration Projects

Project

Latest Position

Molopo Farms Complex Project

Botswana

(Nickel – Platinum Group Elements (PGEs))

POW: Effective Economic Interest 50.8%

Work continues on technical analysis following the drill programme completed in early 2021. Significant nickel sulphides have been identified in the drill core with assays up to 1.7% nickel and 0.55g/t platinum.  Further selected samples are to be assayed for additional nickel sulphide and PGE content.

Discussions are in process with regard to corporate developments in respect of the Molopo Farms Complex interest together with next stage exploration including additional drilling.

Key Potential Value Drivers: Confirmation of further nickel sulphide and platinum group elements (PGEs) from assay testing, outcome(s) from corporate discussions and launch of next stage exploration.

 

 

South Ghanzi Project

Botswana

(Copper – Silver)

POW: 50%

 

 

South Ghanzi Project is held within Kanye Resources plc, a joint venture vehicle 50% held by Power Metal and 50% by partners Kavango Resources plc (LON:KAV) who are the operators of the project.

 

Drill target refinement continues at the South Ghanzi Project, together with initial exploration at the recently acquired South Ghanzi Extension Licences and the Mamuno Licences.  Together, the ground footprint in the Kalahari Copper Belt (KCB) totals 4,257km2.

 

Approval of the Environmental Management Plan (EMP) for South Ghanzi is being sought to enable drilling to be undertaken.

 

Further consideration is being given by the joint venture partners with regard to the planned IPO of Kanye Resources plc and an update in this regard will be provided in due course.

 

Key Potential Value Drivers: Approval of the EMP, drilling of South Ghanzi targets and initial exploration findings from the recently acquired KCB licences.

 

 

Ditau Camp Project

Botswana

(Rare Earths)

POW: 50%

 

Ditau Camp Project is also held within the Kanye Resources plc joint venture as outlined above.

To date three specific targets have been identified for drilling, which is expected to commence in Q4 2021.

Further exploration work is continuing on the ground including ground based geophysical surveys.

Key Potential Value Drivers: Drilling of Ditau targets and results from ongoing exploration.

 

 

Tati Project

Botswana

(Gold – Nickel)

POW: 100%

 

 

The company recently completed its Phase I and Phase II work programmes, which included high-resolution soil sampling (1,107 samples collected), mapping and prospecting (49 rock samples collected), as well as ground-based geophysics including high-resolution magnetic and radiometric surveys.

 

The results have highlighted five target areas across the two licences, which are defined by kilometre-scale geochemical anomalies that are coincident with various geological structures that were highlighted by the ground geophysical surveys.

 

The company is now in the preparatory stage for an inaugural drilling campaign, which will include roughly 1000m of reverse circulation (RC) drilling across the various target areas.

 

Drilling is expected to commence during the first week of October subject to final preparations.

 

Key Potential Value Drivers: Results of ongoing exploration including drill results.

 

Kisinka Project

The DRC

(Copper – Cobalt)

POW: 70%

Next stage exploration is drill testing of the 6.8km copper-cobalt geochemical anomaly identified from previous exploration programmes.

Preparations are continuing for drilling including target refinement and sourcing of appropriate contractors.

Drilling is expected to commence in Q4 2021.

Key Potential Value Drivers: Drill testing of copper-cobalt targets.

 

Haneti Project

Tanzania

(Polymetallic)

POW: 35%

 

The next stage of exploration is deep diamond drill testing at Haneti targeting nickel sulphide – PGE mineralisation.

 

Final preparations are underway for this drill programme which is targeted to commence in Q4 2021.

 

Key Potential Value Drivers: Drill testing of nickel sulphide – PGE targets.

 

North American Exploration Projects

Project

Latest Position

Silver Peak Project

British Columbia, Canada

(Silver)

POW: 30%

Assay results are currently pending from the recently completed summer drill programme.

Work continues on a potential IPO of the Silver Peak project as well as the consideration of a number of alternative commercialisation opportunities.

Key Potential Value Drivers: Pending assay results and confirmation of selected commercialisation approach.

 

 

Alamo Project

Arizona, USA

(Gold)

POW: Earn-in to 75%

 

 

The Notice Level Plan of Operations permit which was required to commence the next phase of exploration has been received.  In line with recently introduced provisions an additional cultural and biological assessment is being undertaken which we expect to be completed by the end of October and thereafter work will commence.

 

The work programme is expected to include trenching on one area of the Alamo Project, with associated sampling, assaying and mapping and thereafter potential drilling of a number of short percussion holes to test for gold and silver mineralisation.

 

Key Potential Value Drivers: Launch of next stage exploration and associated results.

 

 

 

Athabasca Uranium

Satskatchewan, Canada

(Uranium)

POW 100%

 

 

241km2 of ground has been staked surrounding the Athabasca Basin in Saskatchewan, Canada.

 

In total 7 property packages have been assembled, all of which are prospective for uranium mineralisation.

 

Work is being undertaken to assemble detailed project information and to determine next steps for the newly acquired properties.

 

Key Potential Value Drivers: Publication of full property information, uranium prospectivity analysis and launch of Phase I work programme.

 

 

 

Authier North

Quebec, Canada

(Lithium)

POW earn in to 100%

 

 

A programme of detailed soil sampling, prospecting and rock sampling has recently completed.

 

The programme was designed to test for the extensions of a lithium-bearing pegmatite dyke down dip to the north, and along strike to the east from the adjacent Authier Lithium Property.

 

The Authier Lithium Property is owned by Sayona Mining Limited and is scheduled to go into production in 2023. The results from the recently completed programme will be released to the market once received, compiled and interpreted by Power Metal personnel.

 

Key Potential Value Drivers: Results from the exploration programme now completed.

 

 

Disposal/Spin-Out Vehicle Packages *

* Please note other project packages within the Power Metal portfolio are also in earlier stages of spin-out preparations in addition to those listed below.

Project

Latest Position

 

New Ballarat Gold Corporation

Victoria, Australia

(Gold)

POW: 49.9%

 

Power Metal has an interest in 49.9% of New Ballarat Gold Corporation plc (“NBGC”) held in joint venture with 50.1% held by Red Rock Resources plc (LON:RRR).

Through its Australian operating subsidiary, Red Rock Australiasia Pty Ltd, NBGC has a strategic land  footprint in the Victoria Goldfields, Australia.  The footprint comprises 1,458m2 of ground under 9 licence applications and 7 granted licences covering 848km2

Extensive exploration is continuing, combining desk-based research with field exploration.  Drill targets have been identified following additional discoveries of historic mine workings within the granted licence area. A diamond drill programme has been scheduled for the end of the year.

The joint venture partners are working together to expedite a listing of NBGC on the London capital markets.  The new board of NBGC has been selected in readiness for listing and NBGC has appointed all key advisors in this regard.

Key Value Drivers: Material findings from ongoing exploration, further licence grants and the listing of NBGC on the London capital markets.

 

 

Golden Metal Resources

Nevada, USA

Gold – Base Metals

POW – Various interests (see right column)

POW 100%

 

 

During Q2/Q3 2021 Power Metal assembled a strategic package of exploration and development interests in Nevada USA under the corporate vehicle Golden Metal Resources Ltd (“Golden Metal”). Golden Metal’s project portfolio includes:

–  Golconda Summit – an exploration property targeting high grade near surface gold, where Power Metal has a right to earn-in to a 100% interest.

 

Permit has now been received allowing a trenching, sampling and mapping work programme to be undertaken. Final preparations are in hand and exploration is expected to commence at Golconda Summit in October.

 

–  Garfield/Stonewall – two 100% owned exploration properties targeting gold-silver mineralisation. 

 

Initial exploration now launched includes the processing of various Aster and Worldview-3 hyperspectal satellite imagery datasets over the Garfield Property, which will allow for the remote mapping of various iron and hydrothermal alteration minerals.

 

–  Pilot Mountain – an option to acquire a 100% interest in an advanced exploration and development property with a substantial JORC compliant tungsten, copper, silver and zinc resource.

 

Due diligence is fully underway to enable option exercise to proceed by the date of option expiry on 29/10/2021.

Golden Metal is seeking a listing on the London capital markets and is currently assembling its advisory team to complete the listing documentation.

Key Value Drivers: Positive findings from exploration work at Golconda Summit and Garfield properties and the listing of Golden Metal on the London capital markets.

 

 

First Development Resources

Western Australia

(Gold – Copper)

POW: Conditional Acquisition 75%

 

 

 

Power Metal is to acquire a 75% interest in First Development Resources Pty Ltd (FDR Australia), an Australian company holding five exploration interests in the Paterson Region of Western Australia.

Initially the licences included one granted exploration licence and four licence applications.

Power Metal has received confirmation that two additional exploration licence applications have now been granted (Wallal Main E45/5816 and Wallal West 2 E45/5880), two of the three strategic Wallal Project licences, with the remaining licence (Wallal West 1 E45/5853) expected to be granted imminently.

The Wallal Project is the focus of ongoing exploration work including 2D seismic geophysics reprocessing and a passive seismic survey which is intended to help refine drill targeting within the Wallal Main Licence area.

Drill targets comprise magnetic bullseye targets of similar geological nature to that drill tested by Greatland Gold plc leading to the discovery of the Havieron deposit in the Paterson Province.

The acquisition which is now proceeding will trigger the acquisition of FDR Australia by First Development Resources Limited, which Power Metal plans to list on the London capital markets.

Key Potential Value Drivers: Licence grants, formal acquisition of FDR Australia, listing in London and deep drill testing of magnetic bullseye targets.

 

First Class Metals

Schreiber-Hemlo, Ontario, Canada

(Gold – Base Metals)

POW c.38%

 

 

Power Metal announced the disposal of its Schreiber-Hemlo interests to First Class Metals (“First Class”) on 07/09/2021 for consideration of £1mn.  With the shares received on the disposal, and following a subscription by Power Metal of £28,764 at £3/share in the pre-IPO raise, Power Metal currently has an interest of c.38% in First Class (after reflecting the c.£400,000 pre-IPO raise undertaken by First Class).

First Class is seeking a listing on the London capital markets and provided an update to shareholders on 27/09/2021 confirming considerable progress from both from exploration and corporate perspectives.

Power Metal is working with First Class to support their listing plans and looks forward to reporting further progress in this regard. On listing Power Metal will be a significant shareholder in First Class.

Key Potential Value Drivers: Exploration updates from the Schreiber-Hemlo interests and listing of First Class on the London capital markets.

 

New Opportunities

Project

Latest Position

 

Power Capital Investments Limited

Global Resource Project Incubator

(Multi-Commodity)

POW: 100%

 

 

Power Capital Investments  (Power Capital) is currently in the early stages of three potential new projects namely:

–  Gold exploration in Europe where Power Capital has a signed agreement with a third party.  To date assay testing of samples has been undertaken demonstrating high-grade gold mineralisation in hand samples. Currently Power Capital is funding the third party to lodge licence applications covering the area of interest.  Thereafter the plan is to launch additional exploration programmes.  Power Capital may earn-in to a 50% interest by expending €100,000 on exploration and corporate costs.

 

–  Consideration of an African rare earths initiative with a specialist  geological team employing new technology to identify rare earth deposits in Africa.

Limited information will be provided in respect of the above Power Capital projects to preserve commercial sensitivity, notably where work is needed to secure exploration licences or to protect commercial partners.

At present none of the Power Capital projects above are considered material in the context of the Power Metal business overall.  Should they become so, further disclosures may be necessary.

NOTE: A maximum investment level of £100,000 per opportunity has been established and a minimum 50% Power Capital holding interest in any opportunity following Power Capital’s investment.

Key Potential Value Drivers: Advancement of any Power Capital investment into full Power Metal project status or spin-out IPO opportunity.

 

Management and Financial

 

Project

Latest Position

 

Board

 

Further to the announcement of 21 September 2021, Andrew Bell, Chairman of Power Metal stepped down from the board yesterday to focus on the large spin-out IPO of NBGC (see above).

Current Non-executive director Scott Richardson Brown is to become Interim Chairman pending the appointment of a new Chairman in due course.

 

Senior Management

 

The Company operates a hub and spoke operational management style coordinating and controlling global exploration operations from its UK Head Office.

In 2021 with the growth of our business portfolio, and the success of exploration and commercial ventures, we have built the Head Office team with exploration management, commercial management and financial and administrative support.

We are also seeking to optimise resources, and our Head Office team will be deployed to support spin-out vehicles, managerially and administratively, helping to reduce the operational costs to Power Metal of new team members.

 

Financial Position

 

Power Metal has a growing balance sheet which, as with many other exploration companies, has a core of capitalised exploration costs for ongoing exploration projects.

Power Metal can monetise its operational interests as demonstrated by the disposal of the Schreiber-Hemlo business interests (see above).

And importantly, Power Metal is planning to spin-out other business interests into listed vehicles, and any new listings will add materially to the Company’s balance sheet.

Excluding all of the above the Company also holds working capital, comprising cash and currently listed (tradable) investments, which funds day to day operations.  As at 24/09/2021 this amounted to working capital of £2.51million.

 

Audit and Compliance

 

As the financial year comes to a close Power Metal is working with One Advisory, its financial and compliance service partner, to prepare for the annual audit, with financial results for the year ended 30 September 2021 expected to be published in February 2022.

As a responsible exploration company Power Metal is further bolstering its Environmental, Social and Governance initiatives and will be publishing further information in the coming months covering the various measures implemented.

In 2020 the Company undertook a Finance, Administration and Compliance Protocols and Procedures Review to further improve its underlying Governance and is now further bolstering this with detailed business process mapping across the Company.  These measures are considered necessary as the Company expands in size, scale and breadth of corporate and exploration activities.

 

 

COMPETENT PERSON STATEMENT

 

The technical information contained in this disclosure has been read and approved by Mr Nick O’Reilly (MSc, DIC, MIMMM, MAusIMM, FGS), who is a qualified geologist and acts as the Competent Person under the AIM Rules – Note for Mining and Oil & Gas Companies. Mr O’Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Power Metal Resources PLC to provide technical support.

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.

For further information please visit https://www.powermetalresources.com/ or contact:

Power Metal Resources plc

Paul Johnson (Chief Executive Officer)

+44 (0) 7766 465 617

SP Angel Corporate Finance (Nomad and Joint Broker)

Ewan Leggat/Charlie Bouverat

+44 (0) 20 3470 0470

SI Capital Limited (Joint Broker)

Nick Emerson                                                                                                           

+44 (0) 1483 413 500

First Equity Limited (Joint Broker)

David Cockbill/Jason Robertson

+44 (0) 20 7330 1883

#ECR ECR Minerals Plc – Appointment of Independent Non-Executive Director

ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to announce the appointment of Dr Trevor George Davenport (“Trevor” “Dr Davenport”) as a Independent Non-Executive Director of ECR Minerals plc, with immediate effect.

Dr Davenport obtained a BSc (Hons) Geology at Southampton University, subsequently attaining his MSc in Mining Geology and Mineral Exploration in 1967, and a PhD in Geology & Exploration Geochemistry at Leicester University in 1970. In 1971 he attained the title of Chartered Engineer after becoming a Member of The Institute of Mining and Metallurgy.

Trevor started off working as a trainee mining engineer in the South Africa gold mines in 1958 before starting university. Trevor has 63 years of experience working in the geological and mining industry. Trevor’s experience includes working as an underground miner, exploration geochemist, exploration and mine geologist and as a lecturer to post-graduate mining geology students at the University of Leicester. Trevor has experience in exploration for and mining of gold, copper/nickel, lead/zinc/silver, bauxite, chrome and diamonds. Trevor’s experience includes working in Ireland, Canada, Montana (USA), Portugal, Romania, Uzbekistan, Tajikistan, Burma, Ghana, Botswana, Guyana and South Africa.

Trevor was a director, the exploration manager and chief geologist for Nelson Gold’s, Zeravshan Gold Company in Tajikistan from 1994 until end of 1996.

From 2004 until 2011 he was Non-Executive Chairman and director of Kryso Resources Plc. After this he was consulting for Kryso Resources at the time of the takeover of control of the company by China Nonferrous International Mining Co. Ltd in 2011. Today Dr Davenport is a director at Brix Investments Limited and is also President of the Alderney Society and a director of the Alderney Journal.

Craig Brown, Chief Executive Officer of ECR Minerals plc, commented: “I am delighted to announce the appointment of Trevor Davenport to the board of directors. I have known Trevor for over 26 years since I first started working in the mining industry, and I know his extensive knowledge in exploration of numerous gold and other mineral deposits and his experience will be an excellent addition to our knowledge base.”

“ECR Minerals is at a pivotal stage of its evolution. With Trevor’s experience and understanding of our assets in Victoria together with our newly acquired property assets, ECR is ideally positioned for the next phase of growth.”

The following information is disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies.

Trevor George Davenport (aged 81) is currently a Director of Brix Investments Limited; and a director of the Aldernay Journal.

Previous Appointments (directors and partnerships) in the last five years : none

Trevor does not hold any ordinary shares in the Company.

There is no further information regarding Trevor Davenport required to be disclosed pursuant to AIM Rule 17 and Schedule Two (g) of the AIM Rules for Companies.

MARKET ABUSE REGULATIONS (EU) No. 596/2014

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.

FOR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals plc

Tel: +44 (0) 20 7929 1010

David Tang, Non-Executive Chairman

Craig Brown, Director & CEO

Email: info@ecrminerals.com

Website: www.ecrminerals.com

WH Ireland Ltd

Tel: +44 (0) 207 220 1666

Nominated Adviser

Katy Mitchell

SI Capital Ltd

Tel: +44 (0) 1483 413500

Broker

Nick Emerson

Novum Securities Limited

Tel: +44 (0) 20 7399 9425

Broker

Jon Belliss

Blytheweigh

Tel: +44 (0) 207 138 3204

Public Relations

Tim Blythe

#POW Power Metal Resources – Uranium Portfolio Expansion – Athabasca Basin

powPower Metal Resources PLC (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces a significant expansion of its land package within the Athabasca Basin, located in northern Saskatchewan, Canada.

Previously on 15 September 2021 the Company announced the initial acquisition by staking of four uranium properties covering 109 km2, the details which can be found below:

https://www.londonstockexchange.com/news-article/POW/strategic-uranium-opportunity-athabasca-basin/15136428

Building on this initial acquisition, today the Company announces an increase of ground to 241km2 through the staking of additional ground immediately surrounding the Company’s Clearwater, Tait Hill, and Soaring Bay uranium properties, as well as the acquisition of three additional uranium properties including the Cook Lake, E-12, and Reitenbach properties (together the “Properties”).

An updated map highlighting all seven uranium Properties is available on the Company’s website and may be accessed through the following link:

https://www.powermetalresources.com/power-canada-uranium-property-map-2/

Paul Johnson, Chief Executive Officer of Power Metal Resources plc commented:

“Power Metal has now secured a strategic uranium portfolio in Canada, with projects selected after extensive review of unstaked Athabasca Basin opportunities.

The staking process has been undertaken rapidly, to ensure the Company was able to secure the ground it identified as highly prospective and the choice of ground has been validated by the extensive staking that has wrapped around a number of our properties.

There is a major opportunity in uranium and now Power Metal and its shareholders have a seat at the table in one of the best postcodes for uranium exploration and development.

Power Metal continues to look across three continents for additional uranium opportunities, and if highly attractive opportunities are identified, we may expand our uranium portfolio further.”

HIGHLIGHTS

The Properties

The seven 100% owned Properties now cover a combined 24,097-hectares (c. 241km2) giving Power Metal a strong foothold in the prolific Athabasca Basin (for full property details see table 1 below).

 

The Company’s uranium portfolio now includes the Thibaut Lake uranium Property, the significantly expanded Clearwater, Tait Hill, and Soaring Bay uranium properties, as well as the newly staked Cook Lake, E-12 and Reitenback uranium properties (see below for further information on the Properties.

 

Power Metal was able to secure the majority of its land package prior to a significant staking rush that occurred in the Athabasca Basin during the past few weeks. Notably, several of its holdings have now been completely staked around by various parties, demonstrating that Power Metal was able to secure several core property holdings within uranium-rich northern Saskatchewan.

 

The claims for all Properties have been registered with the Mineral Administration Registry Saskatchewan and the total cost of claim staking was C$14,458.  The claims are valid for 2 years and there is no minimum spend commitment required.

 

As the Properties were acquired through staking, Power Canada will have a 100% interest with no outstanding royalties or encumbrances.

The Location

All seven Properties are surrounding the prolific Athabasca Basin, in northern Saskatchewan, Canada which is home to some of the world’s largest and highest grade uranium mines including Cameco Corporation’s Cigar Lake and McArthur River Uranium Mines.

 

Saskatchewan was recently ranked the 3rd best mining jurisdiction in the world in Fraser Institute’s 2020 rankings.

Uranium Property Holding Structure

Power Metal has a 100% subsidiary Power Metal Canada Inc (“Power Canada”). which acts as the holding company for certain Canadian project operations.

Power Canada has now established it own 100% owned holding company 102134984 Saskatchewan Ltd., which is now the holder of all the uranium Properties.

PROJECTS OVERVIEW

Expanded Property Holdings Highlights

 

· The Clearwater Property was expanded by staking one additional licence to bring the total Property size to 5,624-hectares (from 4,864-hectares). The newly staked licence covers an additional 2 uranium mineral deposit index points. Historic results from the newly staked ground includes highlight rock samples which returned up to 0.53% and 0.63% U3O8.

 

· The Tait Hill Property was expanded significantly by staking two additional licences to bring the total Property size to 5,960-hectares (from 2,544-hectares). The newly staked licences cover an additional 10 uranium mineral deposit index points. Historic results from the newly staked ground includes highlight rock samples which returned up to 1.78% U3O8 and 2370ppm Thorium (Th).

 

· The Soaring Bay Property was expanded significantly by staking one additional licence to bring the total Property size to 4630-hectares (from 1,255-hectares). The newly staked licences cover an additional 4 uranium mineral deposit index points. Historic results from the newly staked ground includes highlight trench samples which returned up to 0.92% and 0.56% U3O8.

Newly Acquired Property Highlights

 

· The newly acquired Cook Lake uranium Property (“Cook Lake”) covers 984-hectares (c. 10km2) and is centered around 6 mineral deposit index points. Highlight historic rock samples from Cook Lake returned high-grade results up to 3.54% U3O8 and 0.88% Th. Since Power Metal acquired Cook Lake, additional staking by various 3rd parties have fully encompassed the Property.

 

· The newly acquired E12 uranium Property (“E12”) covers 1,323-hectares (c. 13km2) and is centered around 2 mineral deposit index points. The Property is cross-cut by the major 905 highway, providing excellent access for future work programmes. Highlight historic rock samples from E12 returned results up to 0.20% U3O8. Since Power Metal acquired E12, additional staking by various 3rd parties have fully encompassed the Property.

 

· The newly acquired Reitenbach uranium Property (“Reitenbach”) covers 3,370-hectares (c. 34km2) and is centered around 4 mineral deposit index points. Highlight historic rock samples from Reitenbach returned results up to 0.41% and 0.34% U3O8. The Property also covers a 99.7% percentile lake-sediment result of 70.6ppm Uranium, taken from the Geological Survey of Saskatchewan’s (GSC) lake sediment analysis database (database of 13,195 individual lake sediment results from the Precambian Shield area of Saskatchewan).1

NEXT STEPS

The Company is preparing all available historic data on the seven Properties for publication, and will make an announcement with further details on each property in the coming weeks, which will also include the Company’s next steps with the newly acquired Properties.

 

Table 1: 102134984 Saskatchewan Ltd., Athabasca Basin Property Holdings*

 

Projects

Licence ID

Size – Hectare

Granted

Clearwater Uranium Property

MC00015079

1,110

Yes

MC00015083

563

Yes

MC00015082

3,191

Yes

MC00015151

760

Yes

Tait Hill Uranium Property

MC00015078

1,576

Yes

MC00015081

968

Yes

MC00015153

1,530

Yes

MC00015152

1,886

Yes

Thibaut Lake Uranium Property

MC00015077

2,206

Yes

Soaring Bay Uranium Property

MC00015080

1,255

Yes

MC00015155

3,375

Yes

Cook Lake Uranium Property

MC00015212

984

Yes

E-12 Uranium Property

MC00015213

1,323

Yes

Reitenbach Uranium Property

MC00015214

2,135

Yes

1,235

Pending

*Bold text refers to ground acquired since the original properties acquisition announced by the Company on 15 September 2021

Reference Notes:

1:  https://geohub.saskatchewan.ca/datasets/gsc-lake-sedimentanalyses/explore?location=57.252950%2C-105.528550%2C6.69

 

COMPETENT PERSON STATEMENT

The technical information contained in this disclosure has been read and approved by Mr Nick O’Reilly (MSc, DIC, MIMMM, MAusIMM, FGS), who is a qualified geologist and acts as the Competent Person under the AIM Rules – Note for Mining and Oil & Gas Companies. Mr O’Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Power Metal Resources PLC to provide technical support.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.

For further information please visit https://www.powermetalresources.com/ or contact:

Power Metal Resources plc

Paul Johnson (Chief Executive Officer)

+44 (0) 7766 465 617

SP Angel Corporate Finance (Nomad and Joint Broker)

Ewan Leggat/Charlie Bouverat

+44 (0) 20 3470 0470

SI Capital Limited (Joint Broker)

Nick Emerson                                                                                                           

+44 (0) 1483 413 500

First Equity Limited (Joint Broker)

David Cockbill/Jason Robertson

+44 (0) 20 7330 1883

Power Metal Resources #POW – CEO Paul Johnson talks to Alan Green about this week’s developments in Australia and the USA

Alan Green talks to Power Metal Resources #POW CEO Paul Johnson from the Sussex Innovation Centre podcast studio about the geophysics bullseye target found at the FDR #Copper #Gold project at the Paterson Province, Australia, plus the option agreement to purchase the Pilot Mountain Project from #Thor Mining to add to the #Golconda, #Stonewall & #Garfield projects in #Nevada. Paul also talks about the upcoming project spinoff IPOs

Power Metal Resources #POW – Alan Green talks to CEO Paul Johnson

Power Metal Resources #POW CEO Paul Johnson talks to Alan Green about his major commitment to the company and the 74.5m shares he, his family and Value Generation Ltd hold in the business. Paul discusses how the IPO process will generate value for shareholders, and for POW. Finally Paul updates on all key projects including the Silver Peak project in British Columbia, the Hemlo-Schreiber Gold belt project, the Goldconda and Stonewall project in Nevada, and in Australia the Red Rock #RRR Australasia JV in Victoria and Paterson Province FDR JV in the Pilbara. We finish on the African portfolio including the Botswana Molopo Farms Project, Kalahari Copper Belt South Ghanzi Acacia and Morula prospects and Ditau joint ventures with Kavango Resources #KAV, the Tanzania Haneti Nickel JV with Katoro Gold #KAT and the DRC Copper Cobalt project.

Tertiary Minerals #TYM – Exploration Update – Pyramid Silver-Gold Project

Further to its announcement of 3 June 2021 Tertiary Minerals plc is pleased to provide the following update on its Pyramid Silver-Gold Project in Nevada, USA:

HIGHLIGHTS

  • Phase 2 trench planning now complete.
  • Three trenches to be excavated for a total of 300 m to better define North Ruth silver discovery (45m continuous thickness of mineralisation grading 61ppm silver (1.78 ounces/ton) and 0.09ppm gold in Trench 1).
  • Infill soil sampling results received:
  • Western Line Anomaly extended to 1,100m overall length.
  • Western Line Splay Anomaly extended to 800m overall length.
  • New soil results include samples containing up to 0.77g/t gold and 9.32 g/t silver
  • Phase 2 trenching will include 4 trenches to test new soil anomaly extensions.
  • Notice level permit being processed by US Bureau of Land Management for trenching on Public Lands. Approval expected within days.
  • Drone-based magnetic survey conducted – Interpretation received.
  • Drill testing to follow trenching programme.

Commenting today, Executive Chairman Patrick Cheetham said:

“We are keen to build on the exciting discovery last month of a wide zone of silver mineralisation in our Phase 1 trenching programme at the North Ruth anomaly. This mineralisation is open both along and across strike and we will now be undertaking further trenching to better define the scale and orientation of the mineralisation prior to drill testing. We are also announcing further encouraging soil sampling results from infill sampling in the southern half of the project area and the Phase 2 trenching programme will include a number of additional trenches to test newly defined soil anomalies. Permits are expected to be approved within the next week or so.”

ENQUIRIES

 

Tertiary Minerals plc

Patrick Cheetham, Executive Chairman

 

Tel: +44 (0)1625 838 679
S P Angel Corporate Finance LLP

Nominated Adviser & Joint Broker

Richard Morrison/Caroline Rowe

 

Tel: +44 (0)203 470 0470
Peterhouse Capital Limited

Joint Broker

Lucy Williams/Duncan Vasey

 

Tel: +44 (0)207 469 0930

 

Market Abuse Regulation

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (‘MAR’). Upon the publication of this announcement via Regulatory Information Service (‘RIS’), this inside information is now considered to be in the public domain. 

DETAILED INFORMATION

Background

The Pyramid Gold-Silver Project is located in north-central Nevada, USA and is targeting epithermal gold-silver mineralisation in the prolific past producing Walker Lane Mineral Belt.

The project comprises a group of patented mining claims currently being leased by the Company and a group of surrounding unpatented mining claims held by the Company on Public Lands. (Patented claims have a legacy private land status no longer available to (unpatented) mining claims on Public Lands).

On 3 June 2021, the Company announced the discovery of a wide zone of silver mineralisation at surface during a (Phase 1) trenching programme carried out on the patented claims. Trenching was conducted to investigate  the source of high-grade silver and gold rock samples (see announcement of 10 May 2020) found in following up mapping of soil gold and silver anomalies previously defined by the Company (see announcement dated 11 January). A number of these soil anomalies had not been closed off by the previous Phase 1 soil sampling.

Phase 1 trenching was restricted to the North Ruth and Western Line soil anomalies and Trench 1 in the North ruth Anomaly intersected a 45m continuous thickness of mineralisation grading 61ppm silver (1.78 ounces/ton) and 0.09ppm gold starting 42.67m from the east end of the trench continuing up to the western end of this trench where it ended still in mineralisation.

Phase 2  Soil Sampling

A further 162 soil samples were taken at 30m intervals on six, 120m spaced lines to infill a 0.56sq km area in the southern half of the project area,  primarily to test for extension to the Western Line and Western Splay anomalies.

Analytical results have been received with individual soil results of up to 0.77 g/t gold and 9.32 g/t silver in separate samples.

Evaluation of these results indicate a small extension to the Western Line Anomaly to a total strike length of 1,100m and a 250m extension to the Western Splay Anomaly, with a possible fault offset, to a total length of 800m. Additional isolated gold-in-soil anomalies are present in the southeast of the project area.

Phase 2 Trenching

The Company has completed planning for a follow up trenching programme to further evaluate the North Ruth silver mineralisation and the extensions of the Western Line and Western Splay anomalies.

Three trenches will be excavated at North Ruth to widen and deepen Trench 1 and test along strike. A further 4 trenches will be excavated on the soil anomalies for a total of 628 m of trenching.

The Company has submitted a Surface Disturbance Notice level permit application to the Bureau of Land Management (“BLM”) to permit trenching on BLM public lands and this permit is expected within the next several days and trenching will follow shortly thereafter.

Drone Magnetic Survey

In June 2021 a drone based magnetic survey was conducted comprising 65 line‑kilometres in order to provide additional data for drill planning.

A plan showing the location of the features mentioned in this news release will be available shortly on the Company’s website at: https://www.tertiaryminerals.com/pyramid-silver-gold-project-nevada-usa

Notes:

  1. All soil samples were submitted to Paragon Geochemical, Reno for sample preparation and analysis. Analysis was performed using method FSAU-25, a 51-element aqua regia ICP/MS package. Quality control samples were inserted into the sample run by the analytical laboratory for internal QA/QC purposes 
  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. 
  1. This 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.

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