Tertiary Minerals plc said it would soon start excavating trenches ahead of drill tests for the Phase 2 exploration programme at its Pyramid silver-gold project in Nevada, USA.
The company hopes to receive the necessary permits within one or two weeks.
PLANS
Tertiary has completed Phase 2 planning which involves three trenches for 300m to define better the North Ruth silver discovery of 45m continuous thickness of mineralisation grading 61ppm silver(1.78 t/oz) and 0.09ppm gold in trench 1.
The company has also received the results of infill soil sampling showing:
– western line anomaly confirmed at 1,100m overall length
– western line splay anomaly extended to 800m overall length
– new soil sample results include samples containing up to 0.77%g/t gold and 0.32g/t silver
Phase 2 will include four trenches to test new anomaly extensions.
Tertiary is currently interpreting a drone-based, 65 line-km magnetic survey conducted in June 2021.
Once the trenching programme has been completed, drill testing will begin.
Executive chairman Patrick Cheetham said that the company was keen to build on the discovery last month during Phase 1 of a wide zone of silver mineralisation at the North Ruth anomaly.
PYRAMID
The Pyramid project lies in north-central Nevada and is targeting epithermal gold-silver mineralisation in the prolific past producing Walker Lane mineral belt.
The project includes comprises a group of patented claims being leased by Tertiary and a group of surrounding unpatented mining claims held by the company on private lands.