Tertiary Minerals to start new drilling at Zambian copper and silver prospect

Tertiary Minerals PLC is initiating a new 1,000-meter drilling program in early November at its Mushima North silver, copper, and zinc project in Zambia, aiming to expand and further define the deposit. This aggressive exploration follows encouraging previous results, including high-grade intersections of 58 meters at 49 g/t silver and 0.26% copper. The company's expedited drilling schedule, ahead of the rainy season, seeks to accelerate project advancement, enhance shareholder value, and potentially lead to a formal mineral resource estimate within the next year, capitalizing on the project's location within a prolific mineral belt.

Analysis

Tertiary Minerals PLC (AIM:TYM) is initiating a 1,000-meter drilling program at its Mushima North project in Zambia in early November, aiming to further delineate a promising silver, copper, and zinc deposit. This aggressive exploration follows prior encouraging results, which included high-grade intersections such as 58 meters grading 49 g/t silver and 0.26% copper. The company has secured all necessary permits and is expediting the drilling before the December rainy season.

Managing Director Richard Belcher emphasized the aggressive advancement strategy, aiming to "add shareholder value" by maintaining momentum ahead of the rainy season. The known mineralized area spans 450 by 400 meters and remains open, with new drilling designed to test continuity and infill gaps. This strategic timing underscores a commitment to accelerate project development and capitalize on the positive early indicators.

The two-week program's successful completion could pave the way for Tertiary's first formal mineral resource estimate within the next year, a significant milestone for the project. Mushima North's location within Zambia’s prolific Iron-Oxide-Copper-Gold belt, coupled with identified elevated metals like bismuth and gallium, suggests strong geological potential. The overall sentiment is strongly positive, indicating market optimism regarding these developments.

Key Decisions for Investors

• Investors should closely monitor the drilling results from Mushima North, as positive outcomes could significantly de-risk the project and enhance Tertiary Minerals' valuation.
• Assess the company's progress towards a formal mineral resource estimate within the next year, which would be a key catalyst for future investment decisions.
• Consider the speculative upside potential associated with early-stage exploration in a known mineral belt, balancing it against the inherent geological and operational risks.