Business
Commencing of drilling
Commencing of drilling.
About this update from Tertiary Minerals Plc
[{"type":"text","content":"\n Tertiary Minerals PLC\n14 April 2008\n\n\n\n www.tertiaryminerals.com\n 14 April 2008\n\n DRILLING STARTS ON STORUMAN\n FLUORSPAR DEPOSIT IN SWEDEN\n\n • 12 Drill Holes Will Test Deposit Over 2km Known Strike Length And For\n Extensions\n\n • Fluorspar Prices Still Rising In Tight Markets\n\n • Applications Submitted For Extended Ground Holding And Additional\n Fluorspar Prospect\n___________________________________________________________________\n\nTertiary Minerals plc ('Tertiary' or 'the Company') is pleased to announce that\nit starts drilling today on its 100% owned Storuman fluorspar deposit in the\nVTM?sterbotten district of Northern Sweden.\n\nThe Company has moved quickly to start its evaluation work following acquisition\nof the project in January this year. An environmental permit has been obtained\nfor drilling and initially twelve diamond drill holes are planned. Eight holes\nwill test the known shallow fluorspar zone along the axis of its 2 km known\nextent and four will test for extensions to the NW where some of the highest\ngrades were reported from drilling programmes carried out in the 1970s.\nMineralisation has not been closed off in any direction from its outcrop.\n\nA second drill rig is scheduled to be mobilised to site later this week to\naccelerate the drill programme which aims to confirm the thicknesses and grades\nof potentially economic mineralisation and to collect samples for bench scale\nmetallurgical testwork. The information obtained from the drilling and\nsubsequent metallurgical testwork will form the basis for a technical and\neconomic scoping study which the Company aims to complete this summer.\n\nThe Company also announces that it is extending its ground holding with\napplications for three further exploration licences, two to cover possible\nextensions to the known deposit and one elsewhere in the region where a further\nuntested fluorspar deposit is believed to occur.\n\nThe price of fluorspar continues to rise on world markets with some fluorspar\nconsumers, several of which are based in Europe, facing critical supply\nshortages as traditional supplies from China are diverted to meet growing\nChinese domestic demand. China has recently imposed export quotas and export\ntaxes to discourage export and thus ensure domestic supplies. The latest\nreported price for Chinese fluorspa...