focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksTertiary Minerals Regulatory News (TYM)

Share Price Information for Tertiary Minerals (TYM)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 0.115
Bid: 0.11
Ask: 0.12
Change: 0.00 (0.00%)
Spread: 0.01 (9.091%)
Open: 0.115
High: 0.115
Low: 0.115
Prev. Close: 0.115
TYM Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

"Exploitation Permit Application"

2 Jul 2014 07:00

RNS Number : 0927L
Tertiary Minerals PLC
02 July 2014
 



 

 

www.tertiaryminerals.com

("Tertiary" or "the Company")

 

 2 July 2014

 

Storuman Exploitation (Mine) Permit Application Submitted

 

 

Tertiary Minerals plc, the AIM traded company building a strategic position in the fluorspar sector, is pleased to announce the submission of the Storuman Exploitation (Mine) Permit application and provide an update on further progress for the Storuman Project ("Project").

 

Storuman Highlights:

 

· Exploitation (Mine) Permit application has been submitted to the Swedish Mining Inspectorate (Bergsstaten)

 

· Further results for the Preliminary Feasibility metallurgical testwork have been received and additional optimisation work is ongoing

 

· Scoping of processing and mine development plans are underway in order to focus on further elements of the Preliminary Feasibility Study

 

 

Commenting on today's announcement Managing Director Richard Clemmey said: "We are delighted to announce the submission of the Exploitation (Mine) Permit application for the Storuman Project which represents an important milestone in the development cycle of our most advanced fluorspar project."

 

"Drill planning is currently underway for the MB Project in Nevada USA and further details will be announced in the coming weeks."

 

 

ENQUIRIES

For further information please contact:

Tertiary Minerals plc

Tel: +44 (0)845 868 4580

Patrick Cheetham, Executive Chairman

Richard Clemmey, Managing Director

Cantor Fitzgerald Europe

Tel: +44 (0)20 7894 7000

Stewart Dickson/Julian Erleigh (Corporate Finance)

Jeremy Stephenson (Corporate Broking)

Beaufort Securities Limited

Tel: +44 (0)20 7382 8300

Saif Janjua

Yellow Jersey PR Limited

Tel: +44 (0)7768 537 739

Dominic Barretto/Kelsey Traynor

 

 

 

 

 

 

Detailed Information - Storuman Project

 

The Company's 100% owned Storuman Project is located in north central Sweden and is linked by the E12 highway to the port city of Moi-i-Rana in Norway and by road and rail to the port of Umeå on the Gulf of Bothnia. The Project contains a JORC1 compliant Mineral Resource Estimate of 28 million tonnes grading 10.2% fluorspar (CaF2), of which 90% is in the "indicated2" category.

 

Exploitation (Mine) Permit Application

 

In order to submit an Exploitation (Mine) Permit Application to the Swedish Mining Inspectorate the Company had to complete the following key work programmes for the project:

 

- Drilling

- Metallurgical Testwork

- Scoping Study

- JORC compliant Mineral Resource Estimate

- Key stakeholder engagement and consultation

- Two years baseline environmental studies

 

The resultant technical, economic, social and environmental information has been used by the Company and its Swedish based consultants and advisors to prepare the technical description, environmental impact assessment and legal documents required for the application.

 

The estimated timeline for Exploitation (Mine) Permit approval in Sweden can be highly variable but the typical timeline is currently approximately twelve months. The process requires that the Company waits for the approval of the Exploitation (Mine) Permit prior to preparing and submitting the Environmental Permit Application.

 

In an effort to try and eliminate delays in processing the Exploitation (Mine) Permit the Company has prepared a very thorough application with certain elements exceeding what is normally required by the Swedish Mining Inspectorate. Whilst every effort has been made, the time schedule for processing and approving Exploitation and Environmental Permits is not within the Company's control and this will ultimately govern the timeframe for the development of the mine.

 

Metallurgical Testwork

 

Preliminary Feasibility Study level metallurgical testwork has been ongoing and has suffered a series of delays due to the different mineralogy of the two ore zones and periodic delays at the testwork laboratory. The initial results from the testwork of the Upper Ore Zone indicate that acid grade fluorspar concentrate can be produced with recoveries of more than 80%, meeting the key chemical specifications as follows:

 

- CaF2 >97%

- SiO2

 

The testwork has produced fluorspar concentrate with a coarser size distribution than that produced in the Scoping Study metallurgical testwork however this is somewhat finer than the 'typical' market specification of acid grade fluorspar. The results from the testwork of the Lower Ore Horizon indicate that finer grinding than that of the Upper Ore Zone is required in order to produce an acid grade concentrate with lower recoveries than the Upper Ore Zone.

 

Given the size distribution of the final concentrates the Company is currently reviewing the results alongside its metallurgical consultants and advisors in order to plan the final phase of Preliminary Feasibility Study level metallurgical testwork where it will target further optimisation of both grind size and recovery. The Company is also engaging with end users in order to more closely establish the suitability of the final concentrate in each of their production units.

 

This stage of work is expected to be completed in Q4 2014.

 

 

 

 

 

 

 

 

Processing and Mine Planning Evaluation

 

Based on the results from the metallurgical testwork the Company is currently scoping different processing and mine planning options in order to focus on the further elements of the Preliminary Feasibility Study. The evaluation is expected to run parallel with the further metallurgical testwork with estimated completion in Q4 2014.

 

 

Foot Notes

 

1. JORC is the Australian Code for the reporting of exploration results, Mineral Resources and Ore Reserves prepared by the Joint Ores Reserves Committee (JORC) of the Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and the Minerals Council of Australia.

 

2. An 'Indicated Mineral Resource' is that part of a Mineral Resource for which quantity, grade (or quality), densities, shape and physical characteristics are estimated with sufficient confidence to allow the application of Modifying Factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit.

 

3. The information in this release has been compiled and reviewed by Mr. Richard Clemmey (BSc, CEng, MIQ, MIMMM, ARSM) who is a qualified person for the purposes of the AIM Note for Mining and Oil & Gas Companies dated June 2009. Mr Clemmey is a Chartered Engineer and a Member of the Institute of Materials, Minerals & Mining.

 

 

Notes to Editors

 

Tertiary Minerals plc (ticker symbol 'TYM') is an AIM-quoted mineral exploration and development company building a significant strategic position in the fluorspar sector. Fluorspar is an essential raw material in the chemical, steel and aluminium industries. Tertiary controls two significant Scandinavian projects (Storuman in Sweden and Lassedalen in Norway) and a large deposit of strategic significance in Nevada USA (MB Project).

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCRBMTTMBJMBPI
Date   Source Headline
18th Jul 20197:00 amRNSSale of shares in Sunrise Resources Plc
15th Jul 20197:00 amRNSPaymaster Polymetallic Project Update
30th May 20191:30 pmRNSHalf-Yearly Report 2019
28th May 20197:00 amRNSNew Project Acquisition
28th Feb 20197:00 amRNSTotal Voting Rights
22nd Feb 20192:50 pmRNSDirector Dealing,Issue of Equity,TVR and Warrants
21st Feb 20194:29 pmRNSResult of AGM
21st Feb 20197:00 amRNSNew Project Acquisition and MB Project Update
25th Jan 20197:00 amRNSPlacing to Raise £250,000
14th Jan 20194:22 pmRNSStoruman Project Mine Permit Update
21st Dec 201810:00 amRNSPublication of Report & Accounts / Notice of GM
12th Dec 201810:15 amRNSAudited Results for the year to 30 September 2018
22nd Oct 20184:40 pmRNSSecond Price Monitoring Extn
22nd Oct 20184:35 pmRNSPrice Monitoring Extension
31st Aug 20187:00 amRNSTotal Voting Rights
20th Aug 201810:53 amRNSDirector Dealing, Issue of Equity and TVR
13th Jul 20182:29 pmRNSStoruman Project Mine Permit Update
22nd May 20189:21 amRNSHalf-Yearly Report 2018
17th Apr 20187:00 amRNSStoruman Project Mine Permit Update
2nd Mar 201812:47 pmRNSChange of Adviser
28th Feb 20187:00 amRNSTotal Voting Rights
1st Feb 20181:00 pmRNSDirector Dealing, Issue of Equity,TVR and Warrants
31st Jan 20184:23 pmRNSResult of AGM
25th Jan 20183:41 pmRNSHolding(s) in Company
29th Dec 20171:30 pmRNSTotal Voting Rights
22nd Dec 20177:00 amRNSPublication of Report and Accounts / Notice of AGM
13th Dec 20174:25 pmRNSAudited Results for the year to 30 September 2017
6th Dec 201710:41 amRNSPlacing raises £500,000
1st Dec 20174:18 pmRNSShare Price Movement
29th Nov 201710:51 amRNSDavid Whitehead
29th Nov 20177:00 amRNSTYM Partners with Global Commodities Trading Group
7th Nov 20177:00 amRNSTertiary Minerals Wins National Award in the USA
19th Oct 20177:00 amRNSCorporate and Operational Update
30th Jun 20177:00 amRNSTotal Voting Rights
26th May 20173:21 pmRNSHalf-Yearly Report 2017
26th May 20173:20 pmRNSPlacing to Raise £300,000
13th Apr 201710:14 amRNSResult of General Meeting / Share Division
28th Mar 20172:00 pmRNSProposed Subdivision of Share Capital and GM
22nd Mar 201712:13 pmRNSDirectors Dealings
21st Mar 20171:40 pmRNSHolding(s) in Company
21st Mar 201710:28 amRNSCompletion of Sale of Gold Assets
8th Feb 201711:12 amRNSHolding(s) in Company
1st Feb 20175:00 pmRNSShare and Warrant Issue & Total Voting Rights
1st Feb 20175:00 pmRNSIssue of Shares by Sunrise Resources PLC
1st Feb 20172:22 pmRNSDirector Dealing, Issue of Equity, TVR
31st Jan 20174:30 pmRNSResult of AGM
20th Jan 20171:02 pmRNSDirector/PDMR Shareholding
12th Jan 20177:00 amRNSAcquisition Opportunities
23rd Dec 20169:26 amRNSPublication of Report and Accounts / Notice of AGM
22nd Dec 20167:00 amRNSDirector's Dealing

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.