AIM listed Tertiary Minerals (LON:TYM) is a mineral exploration and development company building and developing a multi-commodity project portfolio of precious metals and base metals in Nevada, USA, plus it holds some industrial mineral assets in northern Europe.
In an update on progress with its projects today, the company said that following unsuccessful metallurgical testwork, it had decided to terminate the lease agreement on the MB Fluorspar Project in order to fully focus on its expanding gold and base metals project portfolio.
Based on the progress with these projects, this looks to be a shrewd move on the part of management ahead of a series of drone magnetic surveys scheduled this week for the company’s key Peg Leg Copper and Paymaster, Silver, Lead and Zinc Projects.
The surveys will provide 3D imaging of the underlying geology and strata, to help determine future drill targets.
Recently Tertiary completed a drone survey at the Mount Tobin Silver Prospect, and now intends to undertake a soil sampling programme to define drill targets.
Soil sampling will also be shortly underway at the Pyramid Gold Project to extend and confirm historic gold-in-soil anomalies for drill targeting.
With such an intense schedule of activities underway, Tertiary has its work cut out for the remainder of 2020. Despite the challenge presented by COVID 19, work continues apace, with any positive data likely to act as a strong catalyst for a share price that is yet to catch up with events.
Tertiary Minerals shares traded at 0.24p in mid afternoon trade on Wednesday.