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Tertiary Minerals secures 20-year lease, option to buy Nev. gold project

Tertiary Minerals PLC secured a 20-year lease over a group of nine patented claims, dubbed the Pyramid project, with an option to acquire the property.

The company also staked an additional 25 unpatented mining claims adjoining the patents to cover potential extensions along strike, it said May 28.

The claims are in the Walker Lane porphyry copper-epithermal gold belt in Nevada's Pyramid mining district.

Historical exploration during 1989 and 1990 defined a priority epithermal vein drill target and intersected visible gold.

The claims contain a few untested epithermal veins and stockwork target zones, where 43 widespread surface samples assayed up to 7.27 g/t gold and averaged 1.3 g/t gold, the company noted.