Tertiary Minerals upbeat on sampling at Mt Tobin

Tertiary Minerals released analytical results from preliminary reconnaissance sampling at its Mt Tobin Silver Prospect in Nevada on Monday, describing a “large area of hydrothermal alteration” at the main target, 60 metres wide and 1,200 metres long, with an associated silver geochemical anomaly recorded by a previous explorer.

The AIM-traded firm said preliminary rock samples taken from the prospector's hand dug pits returned silver values of up to 101 grams per tonne of silver, with several other samples returning between 15 and 91 grams per tonne.

Those, and other anomalous results, were returned over a 450 metre strike length sampled to date, the board said.

It explained that mineralisation is open to the north and the south, structurally controlled, and spatially related to dyke intrusion, adding that further mapping, sampling and soil sampling was planned, to better define the widths and strike extent of mineralisation in the “poorly exposed” area.

“These are very pleasing results from initial reconnaissance work at Mt Tobin and we look forward to increasing the pace of exploration on this and other precious metal projects in our Nevada portfolio this summer and autumn,” said executive chairman Patrick Cheetham.

“It's an interesting time for silver with the silver price up 80% in the past 18 weeks and arguably showing more leverage than the gold price in the current market conditions.”

At 1133 BST, shares in Tertiary Minerals were up 9.3% at 0.23p.