Tertiary Minerals says A1 could become 'significant' silver discovery as latest results extends footprint

Tertiary Minerals PLC reported significant drilling results from its Mushima North project in Zambia, extending the footprint of its A1 silver target to at least 350x300 metres. The findings confirm continuous, near-surface, high-grade silver mineralization, including intersections such as 64 metres at 26 grams per tonne silver, supporting a bulk tonnage, open-pit exploration model. With mineralisation remaining open to the north, south, and at depth, management views this as a potentially significant discovery for the company.

Analysis

Tertiary Minerals PLC has reported a significant operational update from its Mushima North project in Zambia, materially advancing the A1 silver target. New drilling results have extended the mineralised footprint to at least 350x300 metres, confirming the northerly continuation of thick, near-surface silver mineralisation. Key intercepts, such as 64 metres at 26 g/t silver from 2 metres depth and 44 metres at 39 g/t silver from 8 metres, along with a higher-grade interval of 15 metres at 63 g/t silver, lend strong quantitative support to the company's pursuit of a bulk tonnage, open-pit exploration model. The project's upside potential is underscored by the fact that the mineralisation remains open to the north, south, and at depth. The initiation of mineralogical and metallurgical studies represents a critical de-risking milestone, moving the project beyond pure exploration and into the preliminary stages of assessing economic viability, validating management's view that this could become a 'significant discovery' for the company.

Key Decisions for Investors

• Investors should consider the announced drilling results as a key de-risking event that validates the open-pit exploration model for the A1 target, and should monitor upcoming analytical results from holes to the north and south for further resource expansion.
• The initiation of mineralogical and metallurgical studies is the next major catalyst; the outcomes will be crucial in determining the project's potential economic viability and should be watched closely.
• Despite the highly positive results, the project remains at an early exploration stage, and positions should reflect the high-risk, high-reward profile of a junior miner, factoring in future metallurgical outcomes and commodity price risk.