Business
Finland Iron-ore Project
Finland Iron-ore Project.
About this update from Tertiary Minerals Plc
[{"type":"text","content":"\n Tertiary Minerals PLC\n05 September 2007\n\n\n Tertiary Minerals plc\n\n PLAN TO DRILL PRIME IRON TARGET\n IN HEART OF FINLAND'S MAIN IRON ORE DISTRICT\n\n • Testing Strongest Magnetic Anomaly in Kolari Iron District\n\n • Historic Work Points To Over 200 Million Tonnes Of Magnetite\n\n • Joint Venture Offer Turned Down From Leading Company In Order To\n Value-Add\n\n • Emphasis On New Nordic Projects Whilst Saudi Licence Awaited\n___________________________________________________________________\n\nTertiary Minerals plc ('Tertiary' or 'the Company') is pleased to announce that\nit intends to drill a prime iron ore target in Kolari at the heart of Finland's\nmain iron ore district.\n\nThe 'Sivakkalehto' target represents the strongest known magnetic anomaly in the\nKolari iron district where magnetite iron ore was last worked in the 1980's by\nFinnish company Rautaruukki Oy. The Geological Survey of Finland (GTK) has\nreported that geophysical interpretation of this magnetic anomaly suggests that\nthe Sivakkalehto deposit may contain over 200 million tonnes1 of the iron\nmineral magnetite within a 2km by 300-500m broad area within Tertiary's claims.\n\nThe Sivakkalehto target sits in the heart of the Kolari-Pajala iron province\nwhich stretches over the border into Sweden. Today, Canadian company Northland\nResources, capitalised at over £210 million, is undertaking intensive\nexploration and feasibility studies on surrounding claims for the development of\na new iron ore mine. Last month Northland released a NI43-101 compliant2\niron-copper-gold resource at its 100% owned Hannukainen deposit at Kolari which\nlies 10km to the north of Tertiary's Sivakkalehto target. Total Measured plus\nIndicated resources are reported by Northland to be 84.6 million tonnes with an\naverage grade of 34.6% Fe, 0.20% Cu, and 0.093 g/t Au using a cut-off of 15% Fe.\nAn additional 81.6 million tonnes @ 35.7 % Fe + 0.13%Cu + 0.036 g/t Au have been\ndefined in the inferred category.\n\nNorthland's Hannukainen iron deposits give rise to distinctive magnetic\nanomalies, but the Sivakkalehto magnetic anomaly is the strongest known in the\nwhole Kolari iron district and previous drilling by Rautaruukki Oy has returned\nsignificant intersections of iron mineralisation which warrant follow up,\nincluding:\n\nHole No. From To Interval Fe %\nR1 3...