Tertiary Minerals plc is pleased to announce that it’s local partner and licence holder Mwashia Resources Ltd (“Mwashia”) has now received approval of Environmental Project Briefs (“EPBs”) from the Zambian Environmental Management Agency (“ZEMA”) for the Konkola West and Lubuila Copper Projects where the Company is earning up to a 90% interest.
The Company is also providing a project update for the Mukai and Mushima North Projects following a preliminary data review and first meetings with global copper producer First Quantum Minerals Ltd (“FQM”) with whom the Company has a data sharing and technical cooperation agreement (the “Data Sharing and Technical Cooperation Agreement”) .
Key Points:
EPB Approvals
· ZEMA has now approved EPBs for the Konkola West & Lubuila Licences.
· The approval process for the Mukai & Mushima North Project EPBs is at an advanced stage.
· EPB approval is required before exploration can take place.
Project Updates
· Initial prospectivity reviews completed by consultant Remote Exploration Services (RES) of South Africa, based on historical data.
· First meetings held with FQM under the Data Sharing and Technical Cooperation Agreement. Data transfer from FQM to the Company is currently in progress.
· Exploration targeting underway with initial priority areas already defined by RES at:
Ø Mukai, where the host stratigraphy for FQMs nearby Enterprise Nickel Mine and giant Sentinel Copper Mine can be traced into the Mukai Licence where there are both copper and nickel geochemical anomalies.
Ø Mushima North, where historical drilling in the 1960s encountered wide zones of low-grade copper-sulphide mineralisation and which is prospective for iron-oxide-copper-gold (“IOCG”) deposits.
Commenting today, Executive Chairman Patrick Cheetham said:
“I am delighted to report that, following a recent series of positive updates for the Jacks Copper Project in Zambia where we have now earned a 90% interest, the necessary EPBs are now starting to be issued for the other Zambian projects where we have similar earn-in rights.
I am also pleased and excited to be reporting progress in our data sharing and technical cooperation agreement with FQM along with the definition of several exploration targets from a desktop study of historical exploration results commissioned with RES prior to our agreement with FQM.”
For more information please contact:
Tertiary Minerals plc:
Patrick Cheetham, Executive Chairman
+44 (0) 1625 838 679
