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Market: AIM
Sector: General Mining
EPIC: TYM
Latest Price: 9.00p  (-1.42% Descending)
52-week High: 16.00p
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Market Cap: 10.69M
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Tertiary Minerals
www.tertiaryminerals.com

Tertiary Minerals plc (ticker symbol ‘TYM’) is an AIM-quoted mineral exploration and development company building a significant strategic position in the fluorspar sector. Fluorspar is an essential raw material in the chemical, steel and aluminium industries and Tertiary controls two significant Scandinavian projects (Storuman in Sweden and Lassedalen in Norway). 

 

 

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Tertiary Minerals announces maiden resource for Lassedalen fluorspar project in Norway

18th Jan 2012, 7:41 am by Giles Gwinnett The JORC compliant inferred resource is 4 million tonnes at a grade of 25 per cent flourite containing 1 million tonnes of flourite, the firm said

Tertiary Minerals (LON:TYM) today unveiled a maiden resource estimate for its Lassedalen fluorspar project in Norway.

The JORC compliant inferred resource is 4 million tonnes at a grade of 25 per cent flourite containing 1 million tonnes of flourite, the firm said.

The company controls two significant Scandinavian projects - Storuman in Sweden and Lassedalen in Norway - and this result means the firm's total mineral resources is now 3.8 million tonnes of fluorite across the two sites.

The firm's executive chairman Patrick Cheetham welcomed what he called the "significant" increase to the company's mineral resource base and added:

"The definition of a robust maiden mineral resource at Lassedalen gives Tertiary a firm basis to progress scoping and feasibility studies for this, the company's second European fluorspar project, and further supports our ambition to become a major supplier of fluorspar in Europe."

The estimate at Lassedalen has a cut-off grade based on a mine-gate fluorspar price of US$350 per tonne. This is around US$200 below current prices, the firm added.

The Lassedalen deposit remains open at depth and along strike, it also revealed.

Fluorspar is the name for the commercial concentrate of the mineral fluorite (CaF2), which is an essential raw material in the chemical, steel and aluminium industries.

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