TIDMTYM
RNS Number : 2925F
Tertiary Minerals PLC
19 February 2015
Tertiary Minerals plc ("Tertiary" or "Company")
19 February 2015
MB Fluorspar Project Update
Final Results for Phase 3 Drilling
Tertiary Minerals plc, the AIM traded company building a
strategic position in the fluorspar sector, is pleased to release
analytical results from the final two of nine holes drilled in the
Phase 3 drilling programme at its MB fluorspar project in Nevada,
USA.
Highlights:
-- Final results for Phase 3 drilling programme
-- Hole 14TMBRC034 located to the north of the Central Area:
Ø 7.62m grading 9.6% CaF(2) from 109.73m depth
-- Hole 14TMBRC035 located to the north of the Central Area:
Ø 15.24m grading 11.43% CaF(2) from 120.40m depth, total of
three significant(1) fluorspar intersections
-- Including 3.05m grading 19.68% CaF(2) from 123.44m
-- Fluorspar mineralisation remains open in all directions
Commenting today, Managing Director, Richard Clemmey said:
"Results from the Phase 3 drilling programme have been very
encouraging particularly in the Western Area where we have seen
some of the best fluorspar grades and intersections to date and
opened up a large target area to the west of the existing Mineral
Resource. We now look forward to modelling the results and expect
to see an increase in the size of the already large existing
Mineral Resource."
An updated 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 holes 14TMBRC034 and
14TMBRC035 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 and resulted in the
substantial maiden JORC(3) (2012 Edition) Minerals Resource
Estimate of 38.4 million tonnes grading 10.4% CaF(2) .
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 seven holes drilled in Phase 3 have
been previously reported by the Company, 14TMBRC027-33. The results
being reported today are from drill holes 14TMBRC034 and
14TMBRC035, being the final two holes of nine holes drilled in
Phase 3.
The key objective for drilling holes 14TMBRC034-35 were to test
the continuation of the fluorspar to the north of the Central Area
of the existing Mineral Resource and the results have confirmed
that this objective has been achieved.
Drill Hole 14TMBRC034 is located approximately 25m to the north
of the Central Area of the existing Mineral Resource boundary and
was drilled to a depth of 282m. Significant(1) fluorspar was
limited to a single 7.62m intersection in this hole which
demonstrates continuity of fluorspar mineralisation to the north.
However the limited thickness may indicate a thinning of the
fluorspar mineralisation to the north of the current Mineral
Resource.
Drill Hole 14TMBRC035 is located approximately 100m to the north
of the Central Area of the existing Mineral Resource boundary and
was drilled to a depth of 251m. Three significant(1) fluorspar
intersections were encountered totalling 15.24m grading 11.43%
CaF(2) , which again demonstrates continuity of fluorspar
mineralisation to the north of the Central Area of the existing
Mineral Resource. The results from this hole suggests future
investigation is warranted to the north east of the Central
Area.
Collectively analysing the results from all of the nine holes
drilled in Phase 3, the area to the west of the existing Mineral
Resource (Western Area) is the most promising and the Company looks
forward to modelling the results and increasing the current Mineral
Resource base at the MB Project.
Fluorine analysis
Samples from holes 14TMBRC034 and 14TMBRC035 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 14TMBRC034
and 14TMBRC035
Drill Hole Drill Hole Grade Fluorspar From (m) To (m)
Number Thickness CaF2%
(m)
14TMBRC034 7.62 9.60 109.73 117.35
----------- ---------------- --------- -------
14TMBRC035 6.10 12.90 120.40 126.49
----------- ---------------- --------- -------
6.10 10.15 156.97 163.07
----------- ---------------- --------- -------
3.05 11.05 217.93 220.98
----------- ---------------- --------- -------
Table of Higher Grade Intervals (>15% CaF(2) )(2)
Drill Hole Drill Hole Grade Fluorspar From (m) To (m)
Number Thickness CaF2%
(m)
14TMBRC035 3.05 19.68 123.44 126.49
----------- ---------------- --------- -------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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