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Tertiary Minerals expands Nevada portfolio by staking early stage exploration area

Efforts continue to advance the MB fluorspar project, and, other opportunities with near term revenue potential are also being considered by Tertiary

nevada desert area
The area is prospective for zinc, copper, silver, cobalt and tellurium

Tertiary Minerals plc (LON:TYM) has added a new project to its portfolio, picking up the Paymaster exploration area in Nevada, USA.

Existing exploration data for the area included grab samples with up to 21% zinc, 6.5% lead, 3.3% copper and 253 grams per tonne silver, plus ‘high levels’ tellurium and cobalt which are described by Tertiary as “high-tech metals”.

READ: Tertiary Minerals hails recovery of fluorspar market

It plans to conduct its own geophysical exploration work in order to define drill targets for future programmes.

"Whilst we continue with our strategy of reviewing project acquisition opportunities potentially capable of generating revenue and profits in a shorter timescale, we have also expanded our scope to include earlier stage projects which can be developed organically," said Richard Clemmey, Tertiary managing director.

"We are therefore pleased to have secured the first project in the pipeline of exciting new projects currently being assessed.

“As well as progressing our MB fluorspar project, building a new project portfolio should enable the company to reduce its future geographical, technical, permitting and commodity risk exposure and provide long term shareholder value".

At the same time, Tertiary also noted that at the MB fluorspar project, also in Nevada, the next phase of metallurgical testing – a feed into scoping study work – will begin before the end of this month.

Quick facts: Tertiary Minerals PLC

Price: 0.212 GBX

Market: AIM
Market Cap: £1.68 m

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