# Mining News in Zambia

Canonical page: https://atlas-extractions.minestarters.com/news?regions=zambia

Atlas summarizes and classifies mining-industry stories from third-party publishers. Follow each source link for the original reporting.

Results: 26
Returned: 10
Coverage: drill results, resource updates, and metallurgy; primary commodity matching; all time unless dates are supplied.
Region: Zambia (zambia)
Applied filters: {"regions":["zambia"],"document_types":["drill_results","resource_update","metallurgy"],"document_type_match":"any"}
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## FTSE 100 Live: FTSE 100 slides as Wall Street turns mixed

- Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/ftse-100-live-ftse-100-slides-as-wall-street-turns-mixed--6cc5a4ac-4c4c-4a0b-a351-fe25052b4dee) · [Markdown](https://atlas-extractions.minestarters.com/news/ftse-100-live-ftse-100-slides-as-wall-street-turns-mixed--6cc5a4ac-4c4c-4a0b-a351-fe25052b4dee.md)
- Original announcement: 2026-09-18T16:00:44.065Z
- Atlas analysis published: Unknown date
- Atlas analysis updated: Unknown date
- Company: Tertiary Minerals PLC (TYM)
- Original source: [proactiveinvestors](https://www.proactiveinvestors.com/companies/news/1098732/ftse-100-live-ftse-100-slides-as-wall-street-turns-mixed-1098732.html)
- Atlas sentiment: 0.634
- Atlas tags: Step-Out Extension

Tertiary Minerals PLC has identified a high-grade silver-copper-zinc zone at its Mushima North project in Zambia. The drilling results indicate that the mineralisation extends beyond the current Exploration Target and remains open at depth.

## Tertiary Minerals MD: High-grade zone at Mushima North "holding together very nicely"

- Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/tertiary-minerals-md-high-grade-zone-at-mushima-north-holding-together-very-nice--e631ebfe-f260-44e3-bb04-dd71aa6e8e0b) · [Markdown](https://atlas-extractions.minestarters.com/news/tertiary-minerals-md-high-grade-zone-at-mushima-north-holding-together-very-nice--e631ebfe-f260-44e3-bb04-dd71aa6e8e0b.md)
- Original announcement: 2026-09-18T11:46:55.781Z
- Atlas analysis published: Unknown date
- Atlas analysis updated: Unknown date
- Company: Tertiary Minerals PLC (TYM)
- Original source: [proactiveinvestors](https://www.proactiveinvestors.com/companies/news/1098754/tertiary-minerals-md-high-grade-zone-at-mushima-north-holding-together-very-nicely-1098754.html)
- Atlas sentiment: 0.686
- Atlas tags: Step-Out Extension, Bonanza Intercept, QA/QC Disclosed

Tertiary Minerals has reported encouraging drill results at the Mushima North project in Zambia, including a significant 82m intercept at 107 g/t silver equivalent. The drilling has extended the mineralised zone beyond previous boundaries and demonstrated grade consistency, supporting the company's goal of a maiden Mineral Resource by year-end.

## FTSE 100 Live: FTSE 100 continues to dip while FTSE 250 steadies

- Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/ftse-100-live-ftse-100-continues-to-dip-while-ftse-250-steadies--9730c222-c151-4559-9d6d-fad00a897636) · [Markdown](https://atlas-extractions.minestarters.com/news/ftse-100-live-ftse-100-continues-to-dip-while-ftse-250-steadies--9730c222-c151-4559-9d6d-fad00a897636.md)
- Original announcement: 2026-09-18T11:46:55.780Z
- Atlas analysis published: Unknown date
- Atlas analysis updated: Unknown date
- Company: Tertiary Minerals PLC (TYM)
- Original source: [proactiveinvestors](https://www.proactiveinvestors.com/companies/news/1098732/ftse-100-live-ftse-100-continues-to-dip-while-ftse-250-steadies-1098732.html)
- Atlas sentiment: 0.456
- Atlas tags: Step-Out Extension

Tertiary Minerals PLC has identified a 400-metre-long higher-grade silver-copper-zinc zone at its Mushima North project in Zambia. The drilling results indicate that the mineralisation extends beyond the current Exploration Target and remains open at depth.

## Koryx Copper Announces Maiden Drill Program on Zambia Projects and Agreement to Increase Ownership to 80%

- Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/koryx-copper-announces-maiden-drill-program-on-zambia-projects-and-agreement-to--87fb8a7f-3ee3-41a8-b0d7-994ab3aeec30) · [Markdown](https://atlas-extractions.minestarters.com/news/koryx-copper-announces-maiden-drill-program-on-zambia-projects-and-agreement-to--87fb8a7f-3ee3-41a8-b0d7-994ab3aeec30.md)
- Original announcement: 2026-09-18T11:00:00.000Z
- Atlas analysis published: Unknown date
- Atlas analysis updated: Unknown date
- Company: Koryx Copper S.A. (KRY.V)
- Original source: [orestocks](https://orestocks.com/company/KRY.V/press-releases/4753102291298683)
- Atlas sentiment: 0.467
- Atlas tags: agreement_transaction, exploration_4

Koryx Copper has entered into an amended option agreement to increase its ownership in its Zambian projects (Luanshya West and Mpongwe) from 51% to 80%, eliminating further earn-in expenditure requirements. Additionally, the company announced a maiden 2,500m diamond drill program at the Luanshya West project scheduled to begin in late September 2026.

## Tertiary Minerals is advancing encouraging Zambia project, with new value catalysts ahead

- Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/tertiary-minerals-is-advancing-encouraging-zambia-project-with-new-value-catalys--67eaaa9e-15da-4b83-b590-3064e35cb959) · [Markdown](https://atlas-extractions.minestarters.com/news/tertiary-minerals-is-advancing-encouraging-zambia-project-with-new-value-catalys--67eaaa9e-15da-4b83-b590-3064e35cb959.md)
- Original announcement: 2026-09-18T07:31:21.847Z
- Atlas analysis published: Unknown date
- Atlas analysis updated: Unknown date
- Company: Tertiary Minerals PLC (TYM)
- Original source: [proactiveinvestors](https://www.proactiveinvestors.com/companies/news/1075289/tertiary-minerals-is-advancing-encouraging-zambia-project-with-new-value-catalysts-ahead-1075289.html)
- Atlas sentiment: 0.686
- Atlas tags: Bonanza Intercept, Step-Out Extension

Tertiary Minerals has reported significant high-grade silver-copper-zinc drill results at its Mushima North project in Zambia. Key intercepts include a 121m interval at 78 g/t silver equivalent and a 52m interval at 130 g/t silver equivalent, with mineralization appearing to remain open at depth.

## Tertiary Minerals show more high grade results from Mushima North

- Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/tertiary-minerals-show-more-high-grade-results-from-mushima-north--8447eddf-1918-449c-8cbc-41082aa5205d) · [Markdown](https://atlas-extractions.minestarters.com/news/tertiary-minerals-show-more-high-grade-results-from-mushima-north--8447eddf-1918-449c-8cbc-41082aa5205d.md)
- Original announcement: 2026-09-18T07:19:21.849Z
- Atlas analysis published: Unknown date
- Atlas analysis updated: Unknown date
- Company: Tertiary Minerals PLC (TYM)
- Original source: [proactiveinvestors](https://www.proactiveinvestors.com/companies/news/1098736/tertiary-minerals-show-more-high-grade-results-from-mushima-north-1098736.html)
- Atlas sentiment: 0.686
- Atlas tags: Step-Out Extension, Bonanza Intercept

Tertiary Minerals has reported high-grade silver-copper-zinc drill results from the Mushima North project in Zambia, including a 52m intercept at 99 g/t Ag and a 10m intercept at 165 g/t Ag. The results indicate mineralisation is extending beyond previous targets and remains open at depth, with a new shallow copper discovery also noted at the Western Zone.

## Koryx Copper Announces Maiden Drill Program on Zambia Projects and Agreement to Increase Ownership to 80%

- Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/koryx-copper-announces-maiden-drill-program-on-zambia-projects-and-agreement-to--4353328c-316b-4a0f-b33b-a24ca75fdab3) · [Markdown](https://atlas-extractions.minestarters.com/news/koryx-copper-announces-maiden-drill-program-on-zambia-projects-and-agreement-to--4353328c-316b-4a0f-b33b-a24ca75fdab3.md)
- Original announcement: 2026-09-18T00:00:00.000Z
- Atlas analysis published: Unknown date
- Atlas analysis updated: Unknown date
- Company: Koryx Copper S.A. (KRY.V)
- Original source: [globenewswire](https://www.globenewswire.com/news-release/2026/09/18/3364628/0/en/koryx-copper-announces-maiden-drill-program-on-zambia-projects-and-agreement-to-increase-ownership-to-80.html)
- Atlas sentiment: 0.499
- Atlas tags: Agreement to Increase Ownership, Maiden Drill Program, QA/QC Disclosed

Koryx Copper has entered into an agreement to increase its ownership in Koryx Copper Zambia Ltd from 51% to 80%, eliminating further earn-in expenditure commitments. Additionally, the company announced a maiden 2,500m diamond drill program at the Luanshya West project in Zambia, scheduled to begin in late September 2026.

## Tertiary Minerals reveals latest "incredibly compelling" silver results from Mushima North project

- Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/tertiary-minerals-reveals-latest-incredibly-compelling-silver-results-from-mushi--a7ffc128-fe9f-4f67-9ec0-e0c416fef682) · [Markdown](https://atlas-extractions.minestarters.com/news/tertiary-minerals-reveals-latest-incredibly-compelling-silver-results-from-mushi--a7ffc128-fe9f-4f67-9ec0-e0c416fef682.md)
- Original announcement: 2026-09-17T10:41:48.478Z
- Atlas analysis published: Unknown date
- Atlas analysis updated: Unknown date
- Company: Tertiary Minerals PLC (TYM)
- Original source: [proactiveinvestors](https://www.proactiveinvestors.com/companies/news/1098686/tertiary-minerals-reveals-latest-incredibly-compelling-silver-results-from-mushima-north-project-1098686.html)
- Atlas sentiment: 0.686
- Atlas tags: Bonanza Intercept, Step-Out Extension

Tertiary Minerals reported high-grade silver-copper drilling results at the Mushima North project in Zambia. A key intercept of 82m at 107 g/t silver equivalent was highlighted, including a 37m high-grade section, with results suggesting the Discovery Zone remains open at depth.

## Atomic Eagle's Drilling Opens 2 New Uranium Targets at Muntanga

- Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/atomic-eagle-s-drilling-opens-2-new-uranium-targets-at-muntanga--0efa43d6-bf56-4086-8d41-cfc8e041ca46) · [Markdown](https://atlas-extractions.minestarters.com/news/atomic-eagle-s-drilling-opens-2-new-uranium-targets-at-muntanga--0efa43d6-bf56-4086-8d41-cfc8e041ca46.md)
- Original announcement: 2026-09-16T00:00:00.000Z
- Atlas analysis published: Unknown date
- Atlas analysis updated: Unknown date
- Company: Atomic Eagle Limited (AEU)
- Original source: [cruxinvestor](https://www.cruxinvestor.com/posts/atomic-eagles-drilling-opens-2-new-uranium-targets-at-muntanga)
- Atlas sentiment: 0.479
- Atlas tags: Step-Out Extension, Inferred Resource, No QA/QC Disclosure

Atomic Eagle's exploration drilling at the Muntanga Uranium Project in Zambia has identified two new targets: Muntanga North Target 5 and Namakande Target 2. Notable intercepts include 7.07m at 132.39 ppm uranium oxide at Target 5 and 1.50m at 1,342 ppm uranium oxide at Target 2. The company is currently executing a 30,000-meter drilling program to expand the existing 86.2 Mt resource.

## FTSE 100 Live: London shares end the day off their lows

- Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/ftse-100-live-london-shares-end-the-day-off-their-lows--58d0c43f-a923-46bf-ba62-4cbc4ea923e9) · [Markdown](https://atlas-extractions.minestarters.com/news/ftse-100-live-london-shares-end-the-day-off-their-lows--58d0c43f-a923-46bf-ba62-4cbc4ea923e9.md)
- Original announcement: 2026-09-15T20:16:03.738Z
- Atlas analysis published: Unknown date
- Atlas analysis updated: Unknown date
- Company: Tertiary Minerals PLC (TYM)
- Original source: [proactiveinvestors](https://www.proactiveinvestors.com/companies/news/1098533/ftse-100-live-london-shares-end-the-day-off-their-lows-1098533.html)
- Atlas sentiment: 0.903
- Atlas tags: Bonanza Intercept, Step-Out Extension

Tertiary Minerals PLC reported a record drill intersection at the Mushima North project in Zambia. The intercept consists of 121 metres at 78 g/t silver equivalent, located just 4 metres below the surface.

# Atlas tag definitions

- **Bonanza Intercept:** Exceptionally high-grade zone, well above the deposit-type norm.
- **Metal Equivalent Opaque:** Metal equivalent grade reported without disclosing the price, recovery, or payability assumptions used. Requires an actual metal equivalent grade; a combined elemental basket such as PGE is not a metal equivalent.
- **True Width Disclosed:** Actual thickness perpendicular to structure is stated, not just downhole length.
- **Apparent Width Only:** Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness.
- **QA/QC Disclosed:** Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
- **Compositing Transparent:** Cut-off grade and internal dilution rules are clearly stated for reported intervals.
- **No QA/QC Disclosure:** Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
- **Cut-off Undisclosed:** Cut-off grade not disclosed — cannot assess comparability to prior estimates or peers.
- **Step-Out Extension:** Mineralization extended beyond the previously known limit.
- **Infill Drilling:** Confirmatory drilling to raise resource confidence, not new discovery.
- **Stale Data Re-release:** Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
- **Deleterious Elements Present:** A source-stated penalty, refractory or recovery concern in the fact's scope. Element detection alone, including measured elements explicitly below penalty thresholds, does not trigger this tag. Respect negation and retain a separately stated concern even when another risk is explicitly absent.
- **Refractory Ore:** Complex mineralogy requiring oxidation or other special processing before recovery.
- **Nearology Play:** Value premise rests on proximity to a known deposit rather than own results.
- **Measured Resource:** Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
- **Indicated Resource:** Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
- **Proven Reserve:** Measured Resource with demonstrated economic viability after applying modifying factors.
- **Probable Reserve:** Indicated Resource with demonstrated economic viability after applying modifying factors.
- **Inferred Resource:** Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
- **All Inferred:** M&I share below the weak bound — very early stage, no engineering confidence.
- **Tonnage Growth:** Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
- **Grade Improvement:** Average resource grade improved vs prior estimate — better deposit economics.
- **Contained Metal Growth:** True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
- **Category Upgrade:** Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal.
- **Tonnage Decline:** Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down.
- **Grade Decline:** Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.
- **Contained Metal Decline:** Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.
- **Category Downgrade:** Resource confidence decreased — Measured downgraded to Indicated, or Indicated to Inferred. Unusual and concerning.
- **Dilutive Growth:** Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.
- **Cut-off Lowered:** Cut-off grade reduced beyond the suspicious bound vs prior estimate — tonnage growth may be artificial inflation.
- **Cut-off Undisclosed:** Cut-off grade not disclosed — cannot assess comparability to prior estimates or peers.
- **Stale Estimate:** Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
- **QP/CP Signed:** Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
- **Cut-off Disclosed:** Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
- **JORC Compliant:** Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
- **NI 43-101 Compliant:** Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
- **Historical Estimate Only:** Estimate pre-dates or does not comply with current JORC/NI 43-101 standards — requires verification drilling.
- **No Contained Metal:** Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
- **No QP/CP Disclosure:** No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
- **Maiden Resource:** First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. No prior estimate exists, so every change band is not applicable.
- **Resource Update:** Revised estimate for an existing resource — compare to prior to assess progress.
- **PEA-Supporting:** Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
- **PFS-Supporting:** Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
- **DFS-Supporting:** Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
- **High Recovery:** Recovery at or above the exceptional band for the commodity and processing route.
- **Pilot Scale Complete:** Pilot or demonstration plant testing completed under continuous operation.
- **Free Milling:** Simple, clean ore amenable to standard processing without oxidation.
- **Multi-Domain Tested:** Variability across ore domains (oxide, transition, fresh) has been addressed.
- **Recovery Improving:** Recovery improved versus a like-for-like prior test program on the same domain and route.
- **Low Recovery:** Recovery below the weak band for the commodity and processing route.
- **Bench Scale Only:** Only preliminary bench tests completed — no locked-cycle or pilot work.
- **Refractory Ore:** Complex mineralogy requiring oxidation or other special processing before recovery.
- **Single Domain Only:** Testing limited to one composite or domain — representativeness not established.
- **Recovery Stagnant:** No improvement across multiple test programs on comparable material.
- **Theoretical Recovery Only:** Only theoretical or liberation-derived recovery reported, with no actual test result.
- **Heap Leach Route:** Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.
- **Mill Route:** Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
- **Gravity Route:** Gravity separation forms a material part of the flowsheet.
- **POX/BIOX Route:** Pressure or bio-oxidation for refractory ore — high CAPEX and OPEX.
- **Byproduct Commodity:** The tested commodity is a byproduct rather than the primary economic driver.
- **DFS Bankable:** AACE Class 2-1 study complete and within the staleness window.
- **PFS Complete:** AACE Class 3 study complete.
- **PEA Only:** Only Class 4 / Initial Assessment economics available. Not bankable.
- **No Study:** No formal economic study — no engineering basis for the economics quoted.
- **Stale Study:** Beyond the staleness window measured from the estimate base date.
- **Inferred Heavy Feed:** Material Inferred share of LOM mill feed, or the share is undisclosed.
- **Resource Governance Undisclosed:** No QA/QC, top-cut methodology or QP independence disclosed. Caps study quality at the moderate tier.
- **NPV Cut vs Prior Study:** A restated study reduces NPV materially against its own predecessor on the same asset.
- **High IRR:** Post-tax real unlevered IRR in the strong tier or better.
- **Low IRR:** IRR below the moderate tier.
- **Below Jurisdiction Hurdle:** IRR below the greenfield or brownfield hurdle for its jurisdiction tier.
- **IRR Basis Undisclosed:** Real vs nominal not stated, so the tier is not comparable across studies.
- **Undervalued PNAV:** Funding-adjusted P/NAV in the strong tier or better.
- **Overvalued PNAV:** Funding-adjusted P/NAV in the red-flag tier.
- **Fast Payback:** Payback in the strong tier or better, on the required basis.
- **Slow Payback:** Payback in the weak tier or worse.
- **Bottom Quartile Cost:** P0-25 of the relevant commodity cost curve.
- **Top Quartile Cost:** P75-100 of the relevant commodity cost curve — first to cut in a downturn.
- **Cost Basis Undisclosed:** By-product vs co-product not stated, so quartile placement is unreliable.
- **Low Capital Intensity:** Below the benchmark for its project type.
- **High Capital Intensity:** Above the benchmark for its project type.
- **Conservative Pricing:** Conservative on the worst of the spot, 3-year and consensus comparisons.
- **Aggressive Pricing:** The study only works on a stretched price deck.
- **No Price Sensitivity:** No price sensitivity disclosed — treated as a deliberate signal, not a neutral gap.
- **No Discount Rate Sensitivity:** Blocks NPV normalisation to the common rate without reconstruction.
- **Price Deck Unstructured:** Prices given only as free text, so conservatism cannot be scored.
- **Long Reserve Life:** Reserve life index in the top tier of the single ladder.
- **Short Reserve Life:** Reserve life index in the critical tier.
- **Resource Life Upside:** Wide gap between reserve life and resource life — conversion upside rather than discovery dependence.
- **Fully Funded:** Funding coverage at or above 1.0x counting committed facilities only.
- **Material Funding Gap:** Funding coverage below the substantially-funded band.
- **Funding Gap Exceeds Market Cap:** Red flag regardless of headline NPV — the upside is not reachable by the current equity holder.
- **Encumbered by Stream:** An existing stream or royalty reduces attributable NAV and restricts future financing.
- **Stability Agreement:** Fiscal terms fixed, with a term covering the mine life.
- **High Government Take:** Total government take above the regional norm as a share of pre-tax cash flow.
- **Fully Permitted:** Key permits granted with no unresolved challenge.
- **Permit Challenge Outstanding:** An appeal or legal challenge is unresolved, which can defer first production indefinitely.
- **No Community Agreement:** Permits held but no IBA or benefit agreement — the start date is unsupported.
- **Closure Underprovisioned:** Closure provision materially below peers, unfunded, or undisclosed.
- **Upstream TSF:** Upstream tailings construction, which is banned in Brazil and Ecuador.