Business
Iron-ore drilling update
Iron-ore drilling update.
About this update from Tertiary Minerals Plc
[{"type":"text","content":"\n Tertiary Minerals PLC\n29 November 2007\n\n\n\n \n Tertiary Minerals plc\n (the 'Company')\n \n \n TERTIARY'S SCOUT DRILLING RETURNS WIDE MAGNETITE INTERSECTS AT IRON ORE TARGET\n IN FINLAND\n\n • Potential Demonstrated For Near Surface Ore\n\n\n • Two Of Three Shallow Holes Programmed End In Mineralisation\n__________________________________________________________________\n\nTertiary Minerals ('Tertiary' or 'the Company') announces that an initial scout\ndrill programme of three holes has been completed on its Sivakkalehto iron-ore\ntarget in the heart of the Kolari iron-ore district in northern Finland.\n\nDrill core from the project has now been logged and samples submitted for\nanalysis. Visual inspection of the drill core, whilst not able to accurately\npredict grades, indicates that all three holes intersected significant widths of\nvariably disseminated magnetite (an iron-ore mineral that can be magnetically\nconcentrated to shipping-grades) with narrower intervals of semi-massive\nmagnetite. Two of the holes ended in strong disseminated magnetite\nmineralisation.\n\nThe three scout holes were each drilled at a 60 degree dip to the north-west at\n200m intervals along the strike of the central part of the north-east trending\nground magnetic anomaly. Hole lengths varied between 101m and 126 m each.\n\nTwo of the holes also intersected wide intervals of weakly disseminated iron\nsulphides with copper sulphides visible in a few places. Assaying for copper and\ngold will also be undertaken as these metals have been produced historically as\na by-product of iron-mining in this district.\n\nTertiary's chairman Patrick Cheetham commented: 'We are encouraged by our first\nlook at the new drill core. Whilst the core is still subject to laboratory\nassays, it appears that the programme was successful in terms of demonstrating\nthe potential for significant near surface iron mineralisation. Drilling to date\nhas tested only a relatively short and narrow part of a wider anomaly and with\nmineralisation continuing at varying intensities at the bottom of each hole, the\nfull width of the anomaly needs to be traversed in future drilling programmes.'\n\nAssay results from Tertiary's drilling should be known by the end of 2007.\n\nFurther info:\n\nPatrick Cheetham, Executive Chairman, Tertiary Minerals plc. Tel: +44 (0)\n1625-6262...