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Exploration Update - Konkola West, Zambia
Exploration Update - Konkola West, Zambia.
About this update from Tertiary Minerals Plc
[{"type":"text","content":"\n\n 6 June 2023\n \nTertiary Minerals plc (\"Tertiary\" or \"the Company\")\n \nEXPLORATION UPDATE - KONKOLA WEST, ZAMBIA\nThe Company is pleased to announce that, via its local partner, Mwashia Resources, it has been provided with extensive geophysical exploration data for its Konkola West copper exploration project in Zambia by KoBold Metals.\nKoBold Metals, whose shareholders include Breakthrough Energy Ventures, a climate and technology fund founded by Microsoft's Bill Gates, and backed by Amazon's Jeff Bezos and Virgin's Sir Richard Branson, and mining giant BHP, is investing US$150 million into the evaluation of the Mingomba Copper Deposit (Lubambe Extension Project) on the mining licence adjoining the Company's Konkola West exploration licence.\nThe data now provided comprises airborne gravity, magnetic and radiometric data for the entire 72 sq.km. licence area and was collected by KoBold in 2021.\nThis data set was collected as part of a wider regional airborne geophysical survey incorporating Konkola West and targeting down-dip and along-strike extensions of the contiguous Musoshi-Lubambe-Mingomba-Konkola copper deposits which host the Musoshi Mine in the Democratic Republic of the Congo and the Lubambe and Konkola mines in Zambia. Together these deposits define a continuous zone of mineralisation over 15km long with a pre-mining endowment of over 775 million tons grading 2-3% copper. Konkola West is located approximately 2,000 metres southwest of the Mingomba deposit which currently has a resource of 250 million tonnes with a mean grade of 3.8% copper.\nThe Company has previously released a \"Project Focus\" presentation for Konkola West which is available on the Company's website at:\n https://www.tertiaryminerals.com/presentations\nCommenting today, Executive Chairman Patrick Cheetham said:\n\"This is a significant development for the Konkola West Project and we are grateful to KoBold for sharing this data at no cost to Tertiary. The data has an estimated replacement value of several tens of thousands of dollars and will add significantly to our knowledge of the Konkola West Project. Most importantly the data set provides valuable insights for our next stage of exploration targeting for Konkola West.\"\n\"Through judicious agreements, we have been fortunate to have acquired large data sets ...