Tertiary Minerals Discovers Significant Silver and Cobalt Deposits at Mushima North in Zambia
Shares in Tertiary Minerals PLC (AIM: TYM) surged 16% after the company announced the discovery of economically significant silver and cobalt mineralisation at its Mushima North Project in Zambia.
The UK-based exploration and production company confirmed high-grade silver deposits, with drill results showing 59 metres grading 25 grams per tonne (g/t) silver, 0.2% copper, and 0.16% zinc.
A higher-grade zone of 26 metres at 36g/t silver was also identified, while another drill hole ended in mineralisation grading 49g/t silver, indicating further potential.
In addition to the silver, a second drill hole revealed notable cobalt values, with 6 metres grading 0.08% cobalt and 0.58% copper. The find has been described by Tertiary Minerals’ Executive Chairman, Patrick Cheetham, as “an exciting grassroots discovery” with significant potential for more commercially viable deposits as additional samples are analyzed. One drill hole has shown silver mineralisation extending at least 1.3 km.
Tertiary Minerals holds a 90% stake in the Mushima North Project, with the remaining 10% owned by the government of Zambia.
