TIDMTYM
RNS Number : 8014C
Tertiary Minerals PLC
22 January 2015
Tertiary Minerals plc ("Tertiary" or "Company")
22 January 2015
MB Fluorspar Project
Multiple Thick Fluorspar Mineralised Intervals Confirmed in a
Further Two Holes
Tertiary Minerals plc, the AIM traded company building a
strategic position in the fluorspar sector, is pleased to release
analytical results from a further two drill holes in its Phase 3
drilling programme at the MB fluorspar project in Nevada, USA.
Highlights:
-- Hole 14TMBRC028:
Ø 62.49m grading 11.38% CaF(2) from 71.63m depth, total of
several significant(1) fluorspar intersections
Ø Including 15.24m grading 16.57% CaF(2) from 91.44m, total of
four higher grade intersections above 15% CaF(2)
-- Hole 14TMBRC029:
Ø 70.10m grading 10.36% CaF(2) from 64.01m depth, total of
several significant(1) fluorspar intersections
Ø Including 13.72m grading 15.94% CaF(2) from 76.20m, total of
three higher grade intersections above 15% CaF(2)
-- Results demonstrate continuity of mineralisation between the Central and Southern Areas.
-- Results also indicate the potential to increase the size of
the existing JORC(3) (2012 Edition) Mineral Resource Estimate.
-- Mineralisation continuing at end of each hole and open in all directions.
Commenting today, Managing Director, Richard Clemmey said: "We
are very pleased to be reporting promising results from these two
holes in which we see significant fluorspar mineralisation
extending laterally and at depth to the west and between the
Central and Southern Areas of the existing Mineral Resource. We
look forward to reporting results from the remaining 6 drill holes
in due course."
A map showing the location of the completed Phase 3 drill holes
is available on the Company's website:
http://www.tertiaryminerals.com/projects/fluorspar-projects/mb-fluorspar-nevada-usa
More detailed information and a complete tabulation of
significant drilling results for drill hole 14TMBRC028 and
14TMBRC029 are given below. Reported thicknesses are believed to be
approximate true thicknesses based on flat-lying
mineralisation.
Enquiries
Tertiary Minerals plc
Patrick Cheetham, Executive
Chairman
Richard Clemmey, Managing Director +44 (0)845 868 4580
SP Angel Corporate Finance LLP
Nominated Adviser & Joint Broker
Ewan Leggat
Katy Birkin +44 (0) 20 3470 0470
Beaufort Securities Ltd
Joint Broker
Saif Janjua +44 (0)20 7382 8300
Yellow Jersey PR Limited
Dominic Barretto
Kelsey Traynor +44 (0)7768 537 739
Detailed Information
Project Background
The MB Project claims are located in an area of good
infrastructure 19km southwest of the County town of Eureka in
central Nevada, USA. Nevada is long recognised as one of the most
attractive mining jurisdictions in the world.
Since acquiring the project in late 2012, the Company has
already completed a number of important milestones. Full details of
the completed milestones and results from Phase 1 & 2 drilling
have previously been reported by the Company.
Phase 3 Drilling
Following the completion of the maiden JORC(3) (2012 Edition)
Mineral Resource Estimate the Company moved quickly into planning
the next phase of drilling, Phase 3. The Phase 3 Drilling programme
was completed in November 2014 and comprised a further 9 holes
totalling 2,546 metres using the reverse circulation (percussion)
method of drilling.
The results from the first hole drilled in Phase 3, 14TMBRC027,
have been previously reported by the Company. The results being
reported today are from drill holes 14TMBRC028 and 14TMBRC029.
The key objectives for drilling holes 14TMBRC028 and 14TMBRC029
were to:
1. Test the lateral extent of fluorspar mineralisation to the
west of the existing Mineral Resource
2. Test the depth of fluorspar mineralisation below the level of the existing Mineral Resource
3. Test the continuation of fluorspar between the Central and
Southern Areas of the existing Mineral Resource
The results have confirmed that these objectives have been
achieved and multiple thick intersections of significant(1)
fluorspar indicate the potential to increase the size of the
existing JORC(3) (2012 Edition) Mineral Resource Estimate of 38.4
million tonnes grading 10.4% fluorspar (CaF(2) ).
Drill Hole 14TMBRC028 is located approximately 180 metres to the
north-west of the Southern Area of the existing Mineral Resource
boundary and approximately 200 metres to the south-west of the
Central Area of the existing Mineral Resource boundary.
The grade and thickness of fluorspar intersections encountered
in this hole are consistent to those encountered in the 2013 Phase
2 drilling programme. The hole was drilled deeper (251m) than the
holes in Phase 2 by more than 100m. Significant(1) fluorspar
intersections are still being encountered and thus proving the
continuation of fluorspar mineralistion at depth and to the West of
the existing Mineral Resource.
Drill Hole 14TMBRC029 is located in the western part of the zone
which lies between the Central and Southern Area of the existing
Mineral Resource, currently not part of the existing JORC(3) (2012
Edition) Mineral Resource Estimate. The hole was drilled to a depth
of 258m.
Multiple significant(1) fluorspar intersections encountered in
this hole indicate that mineralisation is continuous between the
Central and Southern Areas and therefore strengthening the
potential to increase the size of the current Mineral Resource
Estimate.
The Company will report on the results of the remaining 6 holes
in the Phase 3 drilling programme in due course as they become
available.
Fluorine analysis
Samples from holes 14TMBRC028 and 14TMBRC029 were submitted to
Bureau Veritas Minerals Pty Ltd in Australia (ISO-17025 accredited)
for analysis. All samples were analysed for fluorine using the
fused bead X-ray fluorescence (XRF) method. The samples submitted
included various known standards, blanks and field duplicates as a
further QA/QC check on the results. The QA/QC checks on the results
being reported today are all within acceptable limits and therefore
the Company is able to release the data.
Foot Notes
1. Significant fluorspar (CaF(2) ) mineralisation is defined by
the Company as a minimum three metre drill intersection above 8%
fluorspar (CaF(2) ) cut-off and containing a maximum three metre
drill intersection below 8% fluorspar (CaF(2) ) cut-off. This cut
off is currently applied for reporting of the drill results from MB
project as this is the cut-off used for the most recent Mineral
Resource estimate. However, in the context of reporting drill
results it does not imply an economic cut off. An economic cut-off
will depend on many factors and will not be determined until
feasibility studies, if warranted, are carried out.
2. Mineralisation having a weighted average grade of composite
sample intervals greater than 15% CaF(2) .
3. JORC is the Australian Code for the reporting of exploration
results, Mineral Resources and Ore Reserves prepared by the Joint
Ores Reserves Committee (JORC) of the Australasian Institute of
Mining and Metallurgy, Australian Institute of Geoscientists and
the Minerals Council of Australia.
4. The information in this release has been compiled and
reviewed by Mr. Richard Clemmey (BSc, CEng, MIQ, MIMMM, ARSM) who
is a qualified person for the purposes of the AIM Note for Mining
and Oil & Gas Companies dated June 2009. Mr Clemmey is a
Chartered Engineer and a Member of the Institute of Materials,
Minerals & Mining.
5. Cautionary Note: Traditional analytical methods measure
fluorine content and the reported fluorite (CaF(2) , fluorspar)
contents are calculated on the assumption that all fluorine is
present as fluorite. However small amounts of fluorine can occur in
mica and other minerals commonly present in skarn mineralised
systems.
Notes to Editors
Tertiary Minerals plc (ticker symbol 'TYM') is an AIM-quoted
mineral exploration and development company building a significant
strategic position in the fluorspar sector. Fluorspar is an
essential raw material in the chemical, steel and aluminium
industries. Tertiary controls two significant Scandinavian projects
(Storuman in Sweden and Lassedalen in Norway) and a large deposit
of strategic significance in Nevada USA (MB Project).
Table of Significant(1) Drilling Results from Holes 14TMBRC028
and 14TMBRC029
Grade
Down Hole Fluorspar
Drill Hole Thickness CaF2 From
Number (m) (%) (m) To (m)
------------ ----------- ----------- ------- -------
14TMBRC028 9.14 9.69 71.63 80.77
------------ ----------- ----------- ------- -------
9.14 12.00 85.34 94.49
------------ ----------- ----------- ------- -------
6.10 9.09 99.06 105.16
------------ ----------- ----------- ------- -------
7.62 10.99 152.40 160.02
------------ ----------- ----------- ------- -------
3.05 9.92 167.64 170.69
------------ ----------- ----------- ------- -------
3.05 17.26 176.78 179.83
------------ ----------- ----------- ------- -------
7.62 12.54 193.55 201.17
------------ ----------- ----------- ------- -------
13.72 11.66 207.26 220.98
------------ ----------- ----------- ------- -------
3.05 11.51 239.27 242.32
------------ ----------- ----------- ------- -------
14TMBRC029 7.62 9.74 64.01 71.63
------------ ----------- ----------- ------- -------
12.19 12.69 76.20 88.39
------------ ----------- ----------- ------- -------
6.10 13.23 94.49 100.58
------------ ----------- ----------- ------- -------
12.19 8.46 128.02 140.21
------------ ----------- ----------- ------- -------
4.57 14.08 153.92 158.50
------------ ----------- ----------- ------- -------
9.14 9.66 185.93 195.07
------------ ----------- ----------- ------- -------
6.10 9.53 205.74 211.84
------------ ----------- ----------- ------- -------
6.10 8.76 220.98 227.08
------------ ----------- ----------- ------- -------
6.10 8.07 234.70 240.79
------------ ----------- ----------- ------- -------
Table of Higher Grade Intervals (>15% CaF(2) )(2)
Grade
Down Hole Fluorspar
Drill Hole Thickness CaF2 From
Number (m) (%) (m) To (m)
------------ ----------- ----------- ------- -------
14TMBRC028 3.05 18.08 91.44 94.49
------------ ----------- ----------- ------- -------
3.05 17.26 176.78 179.83
------------ ----------- ----------- ------- -------
3.05 15.72 198.12 201.17
------------ ----------- ----------- ------- -------
6.10 15.90 208.79 214.88
------------ ----------- ----------- ------- -------
14TMBRC029 6.10 15.77 76.20 82.30
------------ ----------- ----------- ------- -------
4.57 15.48 96.01 100.58
------------ ----------- ----------- ------- -------
3.05 16.95 155.45 158.50
------------ ----------- ----------- ------- -------
This information is provided by RNS
The company news service from the London Stock Exchange
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