Tertiary Minerals (TYM) shares jumped after it released an update on its drill plans at the Pyramid Gold Project in Nevada, USA.
The AIM-listed miner said it has received drill contract tenders and identified a preferred contractor for the project.
The company said it has completed a detailed drone photogrammetric survey, and prepared imagery of the entire project area in order to try and confirm the vein drill target.
Tertiary is targeting a ‘high-grade epithermal style gold mineralisation’ where drilling in 1989 conducted by Battle Mountain Exploration Company intersected gold with grades of 17.8g/t Au.
Shares in Tertiary were trading 33% higher at 0.24p on Tuesday
Commenting today, Managing Director, Richard Clemmey said: "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."
He added: "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."
Follow News & Updates from Tertiary Minerals here: