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Pin to quick picksTertiary Minerals Regulatory News (TYM)

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Finland Iron-ore Project

5 Sep 2007 07:01

Tertiary Minerals PLC05 September 2007 Tertiary Minerals plc PLAN TO DRILL PRIME IRON TARGET IN HEART OF FINLAND'S MAIN IRON ORE DISTRICT • Testing Strongest Magnetic Anomaly in Kolari Iron District • Historic Work Points To Over 200 Million Tonnes Of Magnetite • Joint Venture Offer Turned Down From Leading Company In Order To Value-Add • Emphasis On New Nordic Projects Whilst Saudi Licence Awaited___________________________________________________________________ Tertiary Minerals plc ("Tertiary" or "the Company") is pleased to announce thatit intends to drill a prime iron ore target in Kolari at the heart of Finland'smain iron ore district. The "Sivakkalehto" target represents the strongest known magnetic anomaly in theKolari iron district where magnetite iron ore was last worked in the 1980's byFinnish company Rautaruukki Oy. The Geological Survey of Finland (GTK) hasreported that geophysical interpretation of this magnetic anomaly suggests thatthe Sivakkalehto deposit may contain over 200 million tonnes1 of the ironmineral magnetite within a 2km by 300-500m broad area within Tertiary's claims. The Sivakkalehto target sits in the heart of the Kolari-Pajala iron provincewhich stretches over the border into Sweden. Today, Canadian company NorthlandResources, capitalised at over £210 million, is undertaking intensiveexploration and feasibility studies on surrounding claims for the development ofa new iron ore mine. Last month Northland released a NI43-101 compliant2iron-copper-gold resource at its 100% owned Hannukainen deposit at Kolari whichlies 10km to the north of Tertiary's Sivakkalehto target. Total Measured plusIndicated resources are reported by Northland to be 84.6 million tonnes with anaverage grade of 34.6% Fe, 0.20% Cu, and 0.093 g/t Au using a cut-off of 15% Fe.An additional 81.6 million tonnes @ 35.7 % Fe + 0.13%Cu + 0.036 g/t Au have beendefined in the inferred category. Northland's Hannukainen iron deposits give rise to distinctive magneticanomalies, but the Sivakkalehto magnetic anomaly is the strongest known in thewhole Kolari iron district and previous drilling by Rautaruukki Oy has returnedsignificant intersections of iron mineralisation which warrant follow up,including: Hole No. From To Interval Fe %R1 36m 347m 311m 14% Feinc 298m 303m 5m 62% Fe R4 203m 219m 16m 54% Fe R21 239m 355m 116m 26% Feinc. 259m 304m 45m 40% Fe R22 278m 296m 17m 56% Fe R12 273m 304m 31m 56% Fe Copper mineralisation has not been evaluated at Sivakkalehto although it isknown from limited historic assays to be present in places at low grades. "The historic drilling results for iron compare favourably to those reported atHannukainen by Northland and suggests at least a similar resource potentialwithin our project, but this can only be confirmed by drilling." commentedPatrick Cheetham, Tertiary's Chairman. "There is a big economic advantage tohave production within the European market with significant savings on the costof importing iron ore from the southern hemisphere." he added. The Company has been approached in recent months by a leading company for afarm-in at Sivakkalehto but has opted in favour of adding value itself beforetalking to interested parties. It has just completed modelling of recentlycollected airborne magnetic data, and is planning a drilling programme inOctober to test for shallow iron-ore positions. Tertiary is placing more emphasis on its Nordic portfolio, with new prospectsbeing generated, while awaiting the granting of its exploration licence on thegiant Ghurayyah tantalum-niobium, deposit in Saudi Arabia. "Our activities in the Nordic countries have been on the backburner andconsequently overlooked by the market in recent times. We hope to be able togive details of additional developments there soon." commented Mr. Cheetham. The Company has held its Kolari property for five years as part of its IOCG(iron oxide-copper-gold) project portfolio. Other Tertiary IOCG deposits are atVahajoki, Finland and Ahmavuoma in North Sweden. Further info: Patrick Cheetham, Executive Chairman, Tertiary Minerals plc. Tel: +44 (0)1625-626203 Ron Marshman/John Greenhalgh, City of London PR Limited. Tel: +44(0)20-7628-5518 Notes: The information in this release has been compiled and reviewed by Mr. PatrickCheetham (MIMMM, MAusIMM) who is a qualified person for the purposes of the AIMGuidance Note for Mining Oil & Gas Companies issued on March 16, 2006. MrCheetham is a Member of the Institute of Materials, Minerals & Mining and also amember of the Australasian Institute of Mining & Metallurgy. 1. The historical tonnage figure referred to by GTK for Sivakkalehto does notconform to any resource categories in any recognised resource estimation Code orInstrument. The Company believes that this tonnage figure is speculative andshould not be relied upon. The Company does not have - and is not aware of - anyresource estimates which conform to the standards laid out in any recognisedCode or Instrument. 2. National Instrument 43-101 (NI 43-101) is a rule developed by the CanadianSecurities Administrators and administered by the provincial securitiescommissions that governs how issuers disclose scientific and technicalinformation about their mineral projects to the public. It incorporatesdefinitions of resources and reserves adopted by the Canadian Institute ofMining, Metallurgy and Petroleum. This information is provided by RNS The company news service from the London Stock Exchange
Date   Source Headline
29th May 20207:00 amRNSProject Acquisitions & Total Voting Rights
14th May 20207:00 amRNSPyramid Gold Project – Provisional Drill Results
14th May 20207:00 amRNSIssue of Equity
29th Apr 20207:00 amRNSIssue of Equity
24th Apr 202011:00 amRNSPrice Monitoring Extension
20th Apr 202010:53 amRNSPyramid Gold Project –Initial Drill Hole Completed
7th Apr 202011:05 amRNSSecond Price Monitoring Extn
7th Apr 202011:00 amRNSPrice Monitoring Extension
7th Apr 20208:47 amRNSPyramid Gold Project Update
2nd Apr 20209:05 amRNSSecond Price Monitoring Extn
2nd Apr 20209:00 amRNSPrice Monitoring Extension
2nd Apr 20207:00 amRNS£600,000 Placing
31st Mar 20207:00 amRNSTotal Voting Rights
25th Mar 20207:00 amRNSNotice of Resignation of Managing Director
19th Mar 20202:48 pmRNSResult of AGM
18th Mar 20204:43 pmRNSSecond Price Monitoring Extn
18th Mar 20204:38 pmRNSPrice Monitoring Extension
16th Mar 202010:30 amRNSHolding(s) in Company
13th Mar 20207:00 amRNSStatement re: Annual General Meeting
6th Mar 20209:35 amRNSHolding(s) in Company
3rd Mar 20203:05 pmRNSHolding(s) in Company
3rd Mar 20202:05 pmRNSSecond Price Monitoring Extn
3rd Mar 20202:00 pmRNSPrice Monitoring Extension
28th Feb 20203:58 pmRNSGrant of Warrants
28th Feb 202010:18 amRNSDirector Dealing, Issue of Equity and TVR
28th Feb 20209:33 amRNSHolding(s) in Company
28th Feb 20207:00 amRNSTotal Voting Rights
25th Feb 202010:58 amRNSPublication of Report & Accounts / Notice of AGM
25th Feb 202010:11 amRNSPlacing to Raise £275,000
24th Feb 20207:00 amRNSHolding(s) in Company
21st Feb 20201:24 pmRNSHolding(s) in Company
19th Feb 202012:53 pmRNSAudited Results for the year to 30 September 2019
19th Feb 202011:05 amRNSSecond Price Monitoring Extn
19th Feb 202011:00 amRNSPrice Monitoring Extension
19th Feb 20209:05 amRNSSecond Price Monitoring Extn
19th Feb 20209:00 amRNSPrice Monitoring Extension
19th Feb 20207:00 amRNSExercise of Conversion Rights
18th Feb 20207:00 amRNSPyramid Gold Project - Update
31st Dec 20197:00 amRNSTotal Voting Rights
3rd Dec 201912:14 pmRNSDirector Dealing, Issue of Equity and TVR
29th Nov 20197:00 amRNSTotal Voting Rights
28th Nov 20199:25 amRNSHolding(s) in Company
26th Nov 20193:48 pmRNSIssue of Convertible Security
20th Nov 20197:00 amRNSUp to £622,000 Investment by way of Convertibles
14th Oct 20192:05 pmRNSSecond Price Monitoring Extn
14th Oct 20192:00 pmRNSPrice Monitoring Extension
14th Oct 201911:05 amRNSSecond Price Monitoring Extn
14th Oct 201911:00 amRNSPrice Monitoring Extension
27th Aug 201912:56 pmRNSHolding(s) in Company
14th Aug 20194:01 pmRNSHolding(s) in Company

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