Tertiary Minerals Regulatory News (TYM)

26 Jan 2005 12:49

Tertiary Minerals PLC26 January 2005 TERTIARY MINERALS PLC TERTIARY ANTICIPATES DRILL RESULTS NEXT MONTH FROM FINNISH GOLD TARGET WITH DRILLING START ON SECOND PROSPECT • Programme Ready In Sweden To Define Voisey's Bay Style Nickel Targets • Review Of Strategic Options For Diamond Project In Finland Underway Tertiary Minerals, ("Tertiary" or "the Company") the AIM-listed explorer, isexpecting to receive results next month on completion of follow-up drilling atits Kaaresselka Gold Project in northern Finland which focused on higher-grademineralisation in the Vanha zone. Mr. Patrick Cheetham, Tertiary's Chairman, told the Annual General Meeting inLondon today that while these results were "eagerly awaited", February wouldalso see the start of drilling at a second gold project, at Pitkajarvi inwest-central Finland, where high-grade gold is visible in surface boulders."Geophysics has been conducted to trace the source of these boulders and thedrill holes will test bedrock targets." At Nottrask, the Company's main nickel prospect in Sweden, he said Tertiary'sgeologists had prepared a geophysical programme to cover the entire central partof the intrusion in the search for Voisey's Bay style massive nickel sulphidesin magma feeder structures. Drilling was likely in the early summer. The Company's Finnish Diamond Project remained a high priority in an activeexploration portfolio. "Various strategies are being examined for the funding ofthis exciting project where we have made kimberlite discoveries. The possibilityremains of a geological link between our discoveries and the valuable producingArkhangelsk kimberlites in the Russian half of the Karelian craton." Turning to Tertiary's world-class tantalum deposit in Saudi Arabia, Mr. Cheethamsaid that the tantalum market continued to harden and the Board is consideringthe start of preliminary feasibility studies. The Company this week raised £480,000 via a placing of 6 million shares at 8peach. These funds will be used to invest in further exploration activities inScandinavia and to add to the Company's working capital. All shareholder resolutions put to the Annual General Meeting were passed. Further Information: Patrick Cheetham, Tertiary Minerals Plc. Tel: +44 (0)1625-626203. Mobile: +44(0)7767-458751 John Greenhalgh/Ron Marshman, City of London PR Ltd. Tel: +44 ( 0)20-7628-5518 This information is provided by RNS The company news service from the London Stock Exchange