Iron-ore drilling update

29 Nov 2007 07:00

Tertiary Minerals PLC29 November 2007 Tertiary Minerals plc (the "Company") TERTIARY'S SCOUT DRILLING RETURNS WIDE MAGNETITE INTERSECTS AT IRON ORE TARGET IN FINLAND • Potential Demonstrated For Near Surface Ore • Two Of Three Shallow Holes Programmed End In Mineralisation__________________________________________________________________ Tertiary Minerals ("Tertiary" or "the Company") announces that an initial scoutdrill programme of three holes has been completed on its Sivakkalehto iron-oretarget in the heart of the Kolari iron-ore district in northern Finland. Drill core from the project has now been logged and samples submitted foranalysis. Visual inspection of the drill core, whilst not able to accuratelypredict grades, indicates that all three holes intersected significant widths ofvariably disseminated magnetite (an iron-ore mineral that can be magneticallyconcentrated to shipping-grades) with narrower intervals of semi-massivemagnetite. Two of the holes ended in strong disseminated magnetitemineralisation. The three scout holes were each drilled at a 60 degree dip to the north-west at200m intervals along the strike of the central part of the north-east trendingground magnetic anomaly. Hole lengths varied between 101m and 126 m each. Two of the holes also intersected wide intervals of weakly disseminated ironsulphides with copper sulphides visible in a few places. Assaying for copper andgold will also be undertaken as these metals have been produced historically asa by-product of iron-mining in this district. Tertiary's chairman Patrick Cheetham commented: "We are encouraged by our firstlook at the new drill core. Whilst the core is still subject to laboratoryassays, it appears that the programme was successful in terms of demonstratingthe potential for significant near surface iron mineralisation. Drilling to datehas tested only a relatively short and narrow part of a wider anomaly and withmineralisation continuing at varying intensities at the bottom of each hole, thefull width of the anomaly needs to be traversed in future drilling programmes." Assay results from Tertiary's drilling should be known by the end of 2007. 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.Patrick Cheetham (MIMMM, MAusIMM) who is a qualified person for the purposes ofthe AIM Guidance Note for Mining Oil & Gas Companies issued on March 16, 2006.Mr Cheetham is a Member of the Institute of Materials, Minerals & Mining andalso a member of the Australasian Institute of Mining & Metallurgy. This information is provided by RNS The company news service from the London Stock Exchange