Tertiary Minerals PLC (AIM:TYM, OTC:TTIRF) has raised £100,000 through a placing with major shareholder Stuart Packwood to fund further drilling at its Mushima North Project in Zambia.
The placing, arranged via joint broker Peterhouse Capital Limited, saw 153.85 million new shares issued at 0.065p per share.
Managing director Richard Belcher said the additional investment reflected strong shareholder confidence.
"This is a great endorsement for Tertiary and its portfolio of highly prospective projects,” he said.
Proceeds will support drilling at the Target A1 silver-copper-zinc discovery, with a 1,000-metre reverse circulation programme scheduled ahead of Zambia’s rainy season.
The company aims to extend known mineralisation, particularly in areas of higher-grade copper, and to work towards an initial resource estimate within 12 months.