Tertiary Minerals plc (AIM: TYM) is on target to drill test the Pyramid Gold Project in Nevada, USA following the completion of an aerial survey and the identification of a suitable drill contractor.
Managing Director, Richard Clemmey, said the company is looking forward to sinking the drill bit at the Pyramid Project.
“We are pleased to be reporting good progress with the groundwork leading up to the first drill hole on the Pyramid Gold Project in Nevada where we are looking to confirm and expand upon successful historic exploration results,” Mr Clemmey said.
“The deposit provides an exciting gold target where our team has recently identified analogies with the high-grade multi-million-ounce gold deposits at the Midas and Fire Creek mines in Nevada. We look forward to updating the market in due-course on the proposed drilling.”
Mr Clemmey said that in preparation for drilling at the Pyramid project the company has selected a preferred drilling contractor from a number of tenders.
The company has also selected a consulting geologist with a background in the evaluation of epithermal gold deposits in Nevada to supervise the drilling and to log and sample drill core.
The company recently completed a detailed drone photogrammetric survey and prepared detailed photogrammetric imagery of the entire project area.
Mr Clemmey said the company will initially seek to confirm the results of drilling carried out by Battle Mountain Exploration Company in 1989 when a single drill hole intersected high-grade gold mineralisation and visible gold with 1.52m grading 17.8 g/t Au from 94.5m down hole.
As a part of its initial evaluation of the Pyramid Project the company has carried out further geological research and historical data compilation.
Mr Clemmey said this has identified compelling analogies between the setting of the Pyramid drill target and the high-grade multi-million-ounce gold deposits at the Midas and Fire Creek mines in Nevada now operated by the Hecla Mining Company after its 2018 acquisition of Klondex Mines Ltd.