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Pin to quick picksTertiary Minerals Regulatory News (TYM)

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Project Updates

12 Mar 2010 07:00

RNS Number : 4714I
Tertiary Minerals PLC
12 March 2010
 



  TERTIARY MINERALS PLC 12 March 2010

 

PROJECT UPDATES

 

 

Tertiary Minerals plc ("Tertiary" or "the Company") is pleased to provide the following project updates.

 

Storuman Fluorspar Project - Sweden

 

The Company is currently engaged in a Scoping Study for the development of its large Storuman Fluorspar project in northern Sweden.

 

Following the recent release of the tonnage-grade estimate for Storuman, which indicated a near doubling of the known quantity of contained fluorspar to over 3 million tonnes, efforts are focused on the completion of metallurgical testwork to provide data for the estimation of project capital and operating costs.

 

The Company has also commenced detailed discussions with potential off-take partners to determine product specification requirements for input into the Scoping Study and is pleased with the level of interest being shown by consumers in this potential new European source of fluorspar. Fluorspar is the principal raw material used in the production of hydrofluoric acid and a range of added value industrial chemicals.

 

The completion of metallurgical testwork has met with some delays due to laboratory bottlenecks and also due to the scheduling of additional tests. It is now expected that metallurgical testwork will continue into the next calendar quarter, with the Scoping Study to be completed before the end of June 2010.

 

New Fluorspar Projects.

 

For some time now the Company has been carrying out exploration research and field reconnaissance activities for additional fluorspar deposits with a focus on Scandinavia.

 

Sorsele Fluorspar Project, Sweden

 

As a result the Company has now applied for a new exploration licence for fluorspar some 50km north-north west of Storuman, at Gietsjaure in the Sorsele area. The new licence application covers a historic boulder-find of rich fluorspar-mineralised sandstone in a geological setting very similar to that at Storuman.

 

The Company continues to work on additional fluorspar acquisitions, some of which are at an advanced stage.

 

 

 

 

 

Kolari Iron Project, Finland

 

Following a review of the status of its Sivakkalehto claims at Kolari in Finland the Company's subsidiary Tertiary Gold Ltd has surrendered its existing claims and the Company has applied for new claims over the same area. The new claim applications are believed to be first-in-time following the surrender and consequently to have priority for grant under the existing Mining Act.

 

The surrendered Sivakkalehto claims were considered to have insufficient remaining life before expiry at the end of October 2010 to qualify the claims for a mining lease application which requires, amongst other things, that a commercial deposit be fully demonstrated. Tertiary's previous exploration work has clearly demonstrated the potential for a commercial iron deposit and further resource definition drilling and feasibility studies are justified.

 

Under a new mining act for Finland which is proposed for introduction in early 2011 exploration claims will have a longer life and the Company will be able to apply for additional extensions to its existing claims.

 

 

 

Further info:

 

Patrick Cheetham, Executive Chairman, Tertiary Minerals plc. Tel: +44 (0)1625-626203

Jonathan Wright, Seymour Pierce Limited. Tel: +44(0)20-7107-8000

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCKKDDKOBKDQND
Date   Source Headline
6th Mar 20137:00 amRNSDraw Down of Funds & Issue of Equity
5th Mar 20137:00 amRNSChange of Adviser
19th Feb 20134:17 pmRNSResult of AGM
12th Feb 20137:00 amRNSMB Project Tonnage Grade Estimate
31st Jan 201311:13 amRNSUpdate - MB Fluorspar Project, Nevada USA
11th Jan 20137:00 amRNSIssue of Warrants / Director Shareholding
21st Dec 201211:37 amRNSDraw Down of Funds and Issue of Equity
14th Dec 20127:00 amRNSContract for Tonnage-Grade Estimate
13th Dec 20127:00 amRNSFinal Results
30th Nov 20127:00 amRNSPublication of Presentation
29th Nov 20127:00 amRNSMB Project Review Defines Fluorspar Deposit
23rd Nov 20129:15 amRNSNon-Core Projects Update
15th Oct 20127:00 amRNSPosting of Corporate Presentation on Website
3rd Sep 20127:00 amRNSNew Fluorspar Project Acquisition
20th Aug 20127:00 amRNSLassedalen Fluorspar Project
23rd Jul 20127:00 amRNSIssue of Equity
11th Jul 20127:00 amRNSProject and Market Update
18th Jun 20127:00 amRNSEquity Finance Facility Secured
18th May 20127:00 amRNSHalf Yearly Report
9th May 20127:00 amRNSDirectorate Change
25th Apr 20123:53 pmRNSPublication of Presentation
4th Apr 20127:00 amRNSLASSEDALEN FLUORSPAR PROJECT
2nd Apr 20127:00 amRNSProgress Update
8th Mar 20127:00 amRNSInvestor Evening
27th Feb 20129:19 amRNSResult of AGM
26th Jan 201210:31 amRNSGrant of Warrants
18th Jan 20127:00 amRNSLassedalen - Mineral Resource Estimate
13th Jan 20127:00 amRNSAnnual Financial Report
15th Dec 20117:00 amRNSFinal Results
31st Oct 20117:00 amRNSPositive Drilling Results
1st Sep 20117:00 amRNSAppointment of Project Manager
20th Jul 20117:00 amRNSDrilling and Testwork Update
21st Jun 20117:00 amRNSStoruman Fluorspar Project Update
23rd May 20117:00 amRNSHalf Yearly Report
16th May 20117:00 amRNSLassedalen Fluorspar Project Update
18th Apr 20117:00 amRNSDrill Update - Finland Gold Project
31st Mar 20117:00 amRNSStoruman - Mineral Resource Estimate
22nd Feb 201112:09 pmRNSDirs Dealings/Ex of Options/Total Voting Rights
15th Feb 20117:00 amRNSDrilling Results - Storuman Fluorspar Project
31st Jan 20115:06 pmRNSResult of AGM
27th Jan 20117:00 amRNSDrilling Update - Storuman Project
17th Jan 20117:00 amRNSDrilling Programme
22nd Dec 201012:29 pmRNSNotice of AGM
20th Dec 20109:16 amRNSGrant of Warrants
16th Dec 20107:00 amRNSPLACING, ISSUE OF EQUITY & TOTAL VOTING RIGHTS
8th Dec 20107:00 amRNSFinal Results
17th Nov 20107:00 amRNSDrilling Update
28th Sep 20107:00 amRNSDrilling Commences
14th Sep 20107:00 amRNSFluorspar Project Update
20th Jul 201012:54 pmRNSIssue of Equity/Director's Dealing

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