Tertiary Minerals Regulatory News (TYM)

3 Jan 2008 07:00

Tertiary Minerals PLC03 January 2008 TERTIARY MINERALS PLC www.tertiaryminerals.com 3 January 2008 DRILL ASSAY RESULTS CONFIRM WIDE INTERVALS OF IRON MINERALISATION AT KOLARI IRON ORE TARGET IN FINLAND • All Three Holes Confirm Potential For Near Surface Ore • Two Of Three Shallow Holes Start And End In Mineralisation_________________________________________________________________________ Tertiary Minerals plc ("Tertiary" or "the Company" - AIM: TYM) is pleased toannounce that assay results from initial sampling from its drilling programme inthe Kolari iron-ore district in northern Finland confirm that wide intervals ofmagnetite iron mineralisation are present on the Kolari claims over asignificant strike length. The drilling, on the Sivakkalehto target, comprised three 60 degree angled scoutholes at 200m intervals along the strike of the central part of a north-easttrending ground magnetic anomaly. The drill holes were between 101m and 126.5mlong. Sampling of the drill core for analysis was initially carried out to confirmvisual estimation of magnetite content and some of the mineralised intervalshave not yet been sampled. The following table summarises assay results andmineralised sections not yet assayed. Visual estimates correspond well with theassay results received and allow the additional comments on iron mineralisedintervals and grade to be included in the accompanying table of results. The 17-34% iron intervals reported in the table below represent magnetitecontents of approximately 25-50%. Normally, magnetite can be concentrated to asaleable product grading 67% iron or more. Tertiary's initial drill holes were shallow with only a single hole drilled oneach profile. Holes 07TS2 and 07TS3 both collared in bedrock mineralisation(beneath a cover of overburden) and also ended in mineralisation. This suggeststhat the mineralised units could be significantly wider than the intervalspenetrated by these holes. Hole 07TS1 also intersected a zone of weak coppermineralisation and gold values in all three holes were generally low. Based on these initial results the Company is now targeting a large body ofopen-pittable magnetite mineralisation with magnetite content in the 30-50%range. A similar such orebody - the Southdown Magnetite deposit in WesternAustralia - is currently being developed by Grange Resources(www.grangeresources.com.au) based on a resource of 400mt at 37% magnetite. Tertiary's Chairman Patrick Cheetham commented: "We are very pleased with theseresults. They indicate the possible presence of a large body of ironmineralisation at commercial grades." Further assaying of the core will now be undertaken and follow-up drilling isbeing planned. Further info: Patrick Cheetham, Executive Chairman, Tertiary Minerals plc. Tel: +44 (0)1625-626203Ron 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.The mineralisation intersected by the holes being reported is believed to besub-vertical and so the true thickness of mineralisation intersected by the 60degree dipping drill holes will be approximately 50% of the down holeintersected thickness that are reported. Table of Drill Results - Kolari Iron Project Down Hole IntersectionHole Number From To Thickness Iron Copper Comment m m m % % 07TS1 0.00 22.70 22.70 Overburden 31.40 58.60 27.20 17.5 0.12 Bedrock collared in mineralisation inc. 51.35 56.50 5.15 24.6 0.19 86.00 103.00 17.00 ? ? Similar iron grade - not yet assayed 07TS2 0.00 33.50 33.50 Overburden 33.50 56.05 22.55 ? ? Lower iron grade - not yet assayed 56.05 109.45 53.40 19.3 0.03 inc. 72.15 109.45 37.30 22.4 0.03 Similar iron grade to end of hole 109.45 126.20 16.80 ? ? - not yet assayed 07TS3 0.00 35.50 35.50 Overburden 35.50 72.00 36.50 28.4 0.00 inc. 38.25 47.00 8.75 34.0 0.00 Similar iron grade to end of hole 72.00 101.00 29.00 ? ? - not yet assayed This information is provided by RNS The company news service from the London Stock Exchange