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MB Fluorspar Project - Update
MB Fluorspar Project - Update.
About this update from Tertiary Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 2847E Tertiary Minerals PLC 09 May 2013 \n \n\nTertiary Minerals plc\nwww.tertiaryminerals.com\n(\"the Company\")\n \n9 May 2013\nMB Fluorspar Project - Update\n \nTertiary Minerals plc, the AIM traded company building a strategic position in the fluorspar sector, is pleased to provide the following update on the MB fluorspar project in Nevada, USA.\n \nThe Company recently announced a tonnage-grade estimate1 for the MB Project of 85-105 million tonnes grading 9-11% fluorspar (CaF2) at an 8% CaF2 cut-off (12 February 2013).\n \nDrill Programme\n \nDuring a recent visit to the MB Project by the Chairman, Patrick Cheetham and Operations Director, Richard Clemmey meetings were held with potential drilling contractors and a shortlist of contractors will now be asked to provide detailed drill quotes. The drilling industry in Nevada is experiencing low utilisation levels at present and the Company expects to secure competitive pricing. \n \nIt is anticipated that drilling will commence in or around June/July and will be carried out in two consecutive phases. \n \nPhase 1 will comprise a short drill programme twinning diamond and lower-cost percussion drilling techniques to evaluate the most cost-effective drilling technique for the MB Project. Suitable analytical techniques for fluorine will also be evaluated during this first phase and the diamond drill holes should provide sufficient diamond core for use in preliminary metallurgical testing.\n \nPhase 2 will follow-on when analytical results from Phase 1 become available and will employ the most appropriate drilling technique. The objectives of Phase 2 drilling will be to:\n \n1. Define, on the south side of the 1known fluorspar deposit, a 2JORC compliant Mineral Resource of sufficient size to support planning of a mine-starter pit for up to the first ten years of production.\n \n2. Indicate the extent of higher grade areas in the centre of the known deposit\n \n3. Test, on the north side of the known deposit, an alternative site for a mine-starter pit.\n \nDrill Permit\n \nApplication for a drill permit has been submitted to the US Bureau of Land Management (BLM) to cover both phases of the planned drill programme. \n \nProject Logistics\n \nA...