Tertiary Minerals plc is pleased to advise that it has secured exploration rights and an option to purchase a group of claims in the Pyramid Mining District of Nevada. The project is located 25 miles northwest of Reno and is easily accessible by sealed highway.
Pyramid Project Highlights
- 20-year lease secured over group of 9 patented claims with option to purchase (subject to underlying royalties)
- Additional 25 mining claims staked to cover additional targets along strike
- Located in productive Walker Lane porphyry copper/epithermal gold belt
- Limited historical exploration (1989-90) has defined priority epithermal vein drill target:}
- Drill hole PYR 9 - intersected visible gold and assayed 1.52m grading 17.8 g/t Au from 94.5m down hole
- PYR 9 ended in 1.52m grading 2.6 g/t Au at 115.8m depth
- PYR 9 was only drill hole to effectively test a cohesive 750m long open-ended gold-mercury-arsenic soil geochemical anomaly
- Claims contain a number of untested epithermal veins and stockwork target zones - 43 widespread surface samples assayed up to 7.27 g/t Au and averaged 1.3 g/t Au
- The State of Nevada:
- 5th largest gold producer in world
- 5.6 M oz of gold produced in 2017
- 169.1 M oz of gold produced 1835-2018
- Ranked #1 most desirable mining jurisdiction in the world by The Fraser Institute
Commenting today, Managing Director, Richard Clemmey said:
"We are delighted to have acquired an interest in the Pyramid Project. Projects with high-grade gold results in drilling that have not already been followed up are hard to find in Nevada. This acquisition follows the staking of the Paymaster Project earlier this year and is in line with our strategy to build a new project portfolio which will enable the Company to reduce its future geographical, technical, permitting and commodity risk exposure and provide long-term shareholder value".
Maps showing the location of various features described in this news release will be available on the Company's website in due course.