Watch the latest episode of focusIR Fireside Chats: Why Edinburgh Investment Trust Is Backing Turnaround Stocks for 2026 Growth. View 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)

Share Price is delayed by 15 minutes
Get Live Data
0.0525    0.00 (0.00%)
Bid:
0.05
Ask:
0.055
Spread: 0.005 (10.00%)
Market Cap: £3.74m
TYM Live PriceLast checked at - London Stock Exchange

Intraday Tertiary Minerals Share Chart

Storuman Drilling Results

2 Sep 2008 07:00

RNS Number : 4895C
Tertiary Minerals PLC
02 September 2008
Β 

ο»Ώ

Tertiary Minerals plc

2Β SeptemberΒ 2008

DRILLING RESULTS CONFIRM STORUMAN FLUORSPAR DEPOSIT EXTENDS FORΒ ATΒ LEAST 2 KMΒ ALONGΒ Β STRIKE

Β·; Intersections Include 3.2m of 22.7% Fluorite Within 10.3m section Grading 13.1%
Β 
Β·; Potentially Wider Fluorspar Zones indicated: Second Assaying Round Underway
Β 
Β·; Step Out Holes Suggest Potential For Large Extensions in previously Untested Areas

______________________________________________________________________________________

Β 

Tertiary Minerals plc ("Tertiary" or "the Company") is pleased toΒ reportΒ theΒ results fromΒ first roundΒ assaysΒ of drill core from its 100% owned Storuman fluorspar deposit in the VΓ€sterbotten district of Northern Sweden.Β 

Β 

The drill programme, completed lastΒ spring, was designed to re-investigate a large, shallow body of fluorspar mineralisation discovered in the 1970s by GrΓ€nges Aluminium who calculated an β€œore reserve”* of 12.5 million tonnes grading 13.3% CaF2 (CaF2 is the chemical formula for the mineral fluorite, known commercially as β€œFluorspar”).

Β 

The results now being reported are from 10 drill holes at an average spacing of 250m, over a total strike length of 2km. Tertiary’s recent results include drill intersections of 10.3m grading 13.1% CaF2 from 9.20m depth in Hole 08TS005 (includingΒ 3.2 m at 22.7% CaF2 from 16.30m), 4.35m grading 13.5% CaF2 from 60.25m depth in Hole 08TS004 and 3.35m grading 21.5% CaF2 from 11.5m depth in Hole 08TS006 (within a 18.05m interval grading 10.6% CaF2).Β 
Β 
A full tabulation of significant drill-core assay results is given in the accompanying table. All drill holes are vertical and the reported intersections are believed to represent the true widths of the assayed sections of the horizontally layered fluorite mineralisation.
Β 

Drill holes 08TS009Β toΒ 11 were speculative holes, each stepping-out 250-300m beyond the previously known perimeter of the deposit at its NW limits. The correspondingΒ assay results confirm that allΒ holesΒ intersected fluorite mineralisationΒ with hole 08TS011 returning 1.75m grading 12.8% fluorite. This hole, which stopped in mineralization due to drill rig problems, is of particular interest as itΒ suggests potential large extensions to the mineralisation on the west side of the valleyΒ not previously exploredΒ by GrΓ€nges.

The reported results are from the first round of assaying (113 samples including quality control samples) which was restricted to drill core intervals with visually significant fluorspar content. Significantly,Β a number ofΒ check assays on coreΒ above and belowΒ these zones suggests that the fluorspar mineralised intervals may be thicker than visual estimates alone suggest. Consequently a further 138 samples are being submitted for assay and further results and final drill intersections will be reported in the next few weeks.

Tertiary'sΒ ChairmanΒ Patrick CheethamΒ commented: "Because of the apparent lossΒ ofΒ all ofΒ theΒ drill core from the 1970sΒ workΒ at Storuman,Β it has been important to demonstrate that the grades and continuity of mineralisation reportedΒ by GrΓ€ngesΒ are real, and it is particularly encouraging toΒ findΒ extensions to the mineralisationΒ not foundΒ by GrΓ€nges. Meanwhile the price of fluorspar continues to climb with prices of $460-480/tonne now beingΒ reported, up fromΒ $300/tonneΒ earlier thisΒ year." he added.

The receipt of the reported assay results has allowed the selection of drill core for metallurgical testing and the metallurgical testwork programme is now underway.

A drill hole location plan is available on the Company's website atΒ www.tertiaryminerals.com.

TableΒ Of Significant Drill Intersections (First Round Assay Results)Β 

Drill Hole Number

From (Depth Down-Hole)Β (m=metres)

Drill Assay Interval (m=metres)

Assay ResultsFluorspar

(CaF2)Β %

Β 

Β 

Β 

Β 

08TS001

14.30m

1.25m

12.1%

Β 

Β 

Β 

Β 

08TS002

13.50m

7.00m

10.0%

includes

13.50m

2.80m

13.3%

Includes

18.80m

1.70m

13.3%

Β 

Β 

Β 

Β 

08TS003

14.40m

11.50m

10.8%

IncludesΒ 

14.40m

1.15m

14.4%

Includes

20.40m

1.90m

12.9%

Includes

23.70m

2.20m

16.6%

Β 

Β 

Β 

Β 

08TS004

60.25m

4.35m

13.5%

Β 

Β 

Β 

Β 

08TS005

9.20m

10.30m

13.1%

Includes

14.80m

4.70m

19.2%

Includes

16.30m

3.20m

22.7%

Β 

Β 

Β 

Β 

08TS006

11.50m

18.05m

10.6%

Includes

11.50m

3.35m

21.5%

Includes

25.15m

4.40m

15.5%

Β 

Β 

Β 

Β 

08TS007

25.10m

2.75m

16.7%

Β 

Β 

Β 

Β 

08TS008

PlannedΒ 

but not drilled

Β 

Β 

Β 

Β 

Β 

Β 

08TS009

28.00m

1.80m

13.9%

and

37.10m

1.30m

16.5%

Β 

Β 

Β 

Β 

08TS010

26.95m

5.50m

5.1%

Β 

Β 

Β 

Β 

08TS011

27.20m

1.75m

12.8%

Β 

Β 

Β 

Β 

Background

Tertiary was awarded the Storuman exploration licence in January this year. The Storuman fluorite deposit is located in an area with well established infrastructure. It is located adjacent to a sealed highway 20km from the regional town ofΒ StorumanΒ which is connected by road and rail to the city andΒ portΒ ofΒ UmeΓ₯Β on theΒ Gulf of Bothnia. In the other direction the highway leads to theΒ port city ofΒ Mo-i-RanaΒ inΒ Norway.

Fluorspar is the main industrial source of fluorine for the manufacture of hydrofluoric acid and derivative fluorine chemicals including refrigerants, PTFE (Teflonβ„’) and aluminium hydrofluoride, a flux used in the reduction of alumina to aluminium. It is also used as a flux in steel making, in the ceramics industry and in the manufacture of nuclear fuel (uranium hexafluoride).

Fluorspar consumers, several of which are based inΒ Europe, are facing critical supply shortages as traditional supplies fromΒ ChinaΒ are diverted to meet growing Chinese domestic demand.Β ChinaΒ has recently imposed export quotas and export taxes to discourage export and thus ensure domestic supplies.Β 

A conceptual target for the Company is a mining operation producing at least 100,000 tonnes per annum of acid grade fluorspar. Current prices are $460-480/tonne for Chinese materialΒ cifΒ GulfΒ port.Β The world market for fluorspar is just over 5 million tonnes per annum of which 65% is for acid grade fluorspar.

Further info:

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

Ron Marshman/John Greenhalgh,Β Lothbury Financial. Tel: +44(0)20-7011 9411Β 

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

*Β ThisΒ "ore-reserve"Β is historic and not compliant with any recognisedΒ resource or reserveΒ code.

This information is provided by RNS
The company news service from the London Stock Exchange
Β 
END
Β 
Β 
DRLQFLFBVKBFBBD
Date   Source Headline
29th Jun 20267:00 amRNSDirectors' Subscriptions
25th Jun 20267:00 amRNSDrilling Commences at Target A1, Mushima North
23rd Jun 20267:00 amRNSHALF-YEARLY REPORT 2026
22nd Jun 20267:00 amRNSChange of Auditor
10th Jun 20268:34 amRNSHolding(s) in Company
8th Jun 20267:00 amRNSUpcoming Drill Programme at Mushima North, Zambia
4th Jun 20267:00 amRNSPlacing and Proposed Subscription for £1,000,000
15th May 20268:37 amRNSCorrection to Grant of Warrants RNS
5th May 20267:34 amRNSOperations Update, Zambia
20th Apr 20267:00 amRNS-RInvestor Presentation via Investor Meet Company
17th Apr 20261:50 pmRNSGrant of Warrants
17th Apr 202612:00 pmRNSHolding(s) in Company
30th Mar 20267:00 amRNSJORC Compliant Exploration Target - Mushima North
20th Mar 202611:46 amRNSResults of Annual General Meeting
19th Mar 202612:30 pmRNSResult of AGM
20th Feb 20263:32 pmRNSHolding(s) in Company
20th Feb 20267:00 amRNSAnnual Report for the Year Ended 30 September 2025
17th Feb 20267:00 amRNSAudited Results for Year Ended 30 September 2025
4th Feb 20267:00 amRNSHighest Grade Ag-Cu at Target A1, Mushima North
2nd Feb 202612:19 pmRNSHolding(s) in Company
6th Jan 20269:03 amRNSHolding(s) in Company
17th Dec 20257:00 amRNSBoard Change
16th Dec 20257:00 amRNSIntent to Produce Target for Cu-Ag, Mushima North
28th Nov 202510:08 amRNSTotal Voting Rights
13th Nov 20253:42 pmRNSDirector/PDMR Shareholding
13th Nov 20257:00 amRNSDrilling Update at Target A1, Mushima North
7th Nov 20252:11 pmRNSCLN Facility to Expand Exploration Programme
5th Nov 20259:37 amRNSDrilling Commences at Target A1
31st Oct 202511:04 amRNSTotal Voting Rights
31st Oct 20257:00 amRNSUpcoming Phase 3 Drill Programme at Target A1
30th Oct 20257:00 amRNSKobold to advance Konkola West Project Agreement
28th Oct 20257:00 amRNSAppointment of Corporate Broker
20th Oct 20257:00 amRNSPlacing to raise £100,000
9th Oct 20257:00 amRNS-RProject Focus: Target A1, Mushima North, Zambia
3rd Oct 20253:47 pmRNSHolding(s) in Company
2nd Oct 20254:07 pmRNSHolding(s) in Company
1st Oct 20257:21 amRNSHighest grade Ag-Cu at Target A1, Mushima North
24th Sep 20257:00 amRNSDrill holes show silver - Target A1, Mushima North
10th Sep 202512:29 pmRNSHolding(s) in Company
3rd Sep 20253:42 pmRNSHolding(s) in Company
2nd Sep 20257:00 amRNSPhase 2 Drilling Results: Target A1, Mushima North
11th Aug 20257:00 amRNSCompletion of Phase 2 at Target A1 - Mushima North
31st Jul 20251:42 pmRNSTotal Voting Rights
25th Jul 202510:09 amRNSHolding(s) in Company
25th Jul 20258:30 amRNSHolding(s) in Company
21st Jul 20257:00 amRNSDrilling Commences at Target A1 - Mushima North
8th Jul 20257:00 amRNSUpcoming Drill Programme - Mushima North, Zambia
4th Jul 20259:45 amRNSHolding(s) in Company
1st Jul 202511:31 amRNSDirectors’ Subscriptions
30th Jun 202510:13 amRNSTotal Voting Rights

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.