The Mushima North exploration licence, in the Kasempa district, is also located in an active exploration area for First Quantum.
Tertiary Minerals’ shares took off, rising almost 90% in early morning to trade to 0.21 pence each and were exchanging hands last at 0.19 pence each.
Together, Tertiary and First Quantum will set up a technical committee to work collaboratively to advance and develop the two projects.
“This agreement will turbo-charge Tertiary’s Zambian exploration in these two key licence areas,” Executive Chairman Patrick Cheetham said in the statement. “We are set to benefit from FQM’s extensive and in-depth country experience, gained over many years of exploration and mine development in Zambia”.
First Quantum will also advise and assist Tertiary on the project’s technical matters and provide Tertiary with all of its historical exploration data for the two licence areas.
The London-based minor said…
