Tertiary Minerals PLC
26 January 2005
TERTIARY MINERALS PLC
TERTIARY ANTICIPATES DRILL RESULTS NEXT MONTH FROM FINNISH GOLD TARGET WITH
DRILLING START ON SECOND PROSPECT
• Programme Ready In Sweden To Define Voisey's Bay Style Nickel Targets
• Review Of Strategic Options For Diamond Project In Finland Underway
Tertiary Minerals, ('Tertiary' or 'the Company') the AIM-listed explorer, is
expecting to receive results next month on completion of follow-up drilling at
its Kaaresselka Gold Project in northern Finland which focused on higher-grade
mineralisation in the Vanha zone.
Mr. Patrick Cheetham, Tertiary's Chairman, told the Annual General Meeting in
London today that while these results were 'eagerly awaited', February would
also see the start of drilling at a second gold project, at Pitkajarvi in
west-central Finland, where high-grade gold is visible in surface boulders.
'Geophysics has been conducted to trace the source of these boulders and the
drill holes will test bedrock targets.'
At Nottrask, the Company's main nickel prospect in Sweden, he said Tertiary's
geologists had prepared a geophysical programme to cover the entire central part
of the intrusion in the search for Voisey's Bay style massive nickel sulphides
in magma feeder structures. Drilling was likely in the early summer.
The Company's Finnish Diamond Project remained a high priority in an active
exploration portfolio. 'Various strategies are being examined for the funding of
this exciting project where we have made kimberlite discoveries. The possibility
remains of a geological link between our discoveries and the valuable producing
Arkhangelsk kimberlites in the Russian half of the Karelian craton.'
Turning to Tertiary's world-class tantalum deposit in Saudi Arabia, Mr. Cheetham
said that the tantalum market continued to harden and the Board is considering
the start of preliminary feasibility studies.
The Company this week raised £480,000 via a placing of 6 million shares at 8p
each. These funds will be used to invest in further exploration activities in
Scandinavia and to add to the Company's working capital.
All shareholder resolutions put to the Annual General Meeting were passed.
Further Information:
Patrick Cheetham, Tertiary Minerals Plc.
Tel: +44 (0)1625-626203. Mobile: +44(0)7767-458751
John Greenhalgh/Ron Marshman, City of London PR Ltd.
Tel: +44 ( 0)20-7628-5518
This information is provided by RNS
The company news service from the London Stock Exchange
Translate
