LONDON (Alliance News) - Tertiary Minerals PLC Tuesday said permitting for phase 3 drilling at the MB fluorspar project in Nevada, US has been approved and that contractors for the drill programme have been hired.
The company has awarded the drilling contract for the project to Boart Longyear. Drilling is expected to be completed by the end of November.
In April, the company released the first JORC-compliant mineral resource estimate for the project. It said tests showed a resource of 38.4 million tonnes graded at 10.4% fluorspar at an 8% calcium flouride cut-off grade at MB.
Fluorspar is an essential raw material in the chemical, steel and aluminium industries.
"We are delighted to have completed the planning and have all the necessary approvals in place to start our Phase 3 drilling programme on the MB project. This is an exciting phase where we expect to increase the size of the already significant JORC compliant mineral resource and target potential higher grade fluorspar," said Tertiary Managing Director Richard Clemmey.
Tertiary shares were trading flat Tuesday morning, quoted at 5.75 pence per share.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2014 Alliance News Limited. All Rights Reserved.