Business
Storuman - Mineral Resource Estimate
Storuman - Mineral Resource Estimate.
About this update from Tertiary Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 9508D Tertiary Minerals PLC 31 March 2011 \n\n \nTertiary Minerals Plc \n \n(\"Tertiary\" or \"the Company\")\n \nMINERAL RESOURCE ESTIMATE - STORUMAN FLUORSPAR PROJECT\n \nTertiary Minerals plc, a diversified mineral explorer and developer building a significant strategic position in the fluorspar sector, is pleased to announce a substantial maiden, JORC compliant, Mineral Resource Estimate for its Storuman fluorspar project in Sweden. \n \nHighlights\n \n· JORC Indicated & Inferred Mineral Resource - 28 million tonnes grading 10.2% Fluorspar (CaF2).\n \n· 90% of the Mineral Resource is in the \"Indicated\" category and delineated to a sufficiently high level of confidence to support detailed mine planning.\n \n· Mineral Resource Estimate builds on the conclusions of the 2010 economic Scoping Study.\n \n· Open pit constrained Mineral Resource contains 28% more fluorspar at less than half the waste to ore stripping ratio when compared to the Scoping Study optimised open pit.\n \n· Deposit and open-pit mineralisation open to expansion.\n \n· Environmental permitting studies under-way.\n \n· Prefeasibility metallurgical testwork to be awarded soon.\n \n \nCommenting on today's news, Patrick Cheetham, Executive Chairman, said \"The definition of a maiden JORC compliant Mineral Resource is a value adding event for the Company and it has exceeded our expectations. The recent drilling success has enabled 90% of the Mineral Resource Estimate to be reported in the \"Indicated\" category, and yielded a 28% increase in the amount of fluorspar captured in an optimised open-pit at a significantly lower stripping ratio than previously predicted - despite the use of conservative fluorspar pricing assumptions\".\n \nFluorspar is an essential raw material in the chemical, steel and aluminium industries and Tertiary controls an estimated four million tonnes of fluorspar across its two Scandinavian projects (Storuman in Sweden and Lassedalen in Norway).\n \n \nENQUIRIES\n \nTertiary Minerals plc ...