Tertiary Minerals PLC (TYM) – Thicker Fluorsparzones Boost Storuman Project
• Second Round Assays Give Drill Intervals Up To 43% Thicker And With 20% Higher
• Significant Additional Fluorspar Tonnage Potential Suggested For Already Large
• Fluorspar Bearing Upper Horizons Still To Be Sampled In Some Holes
Tertiary Minerals plc is pleased to report that second round assay results from drill core have revealed wider intervals of fluorspar mineralisation at its
100% owned Storuman fluorspar deposit in the Västerbotten district of Northern Sweden.The results of the first round of assays, released in early September, confirmed that the Storuman fluorspar deposit extends for at least 2 km along strike and that the mineralisation is also present in peripheral areas not considered during the 1970s exploration. These assays, however, as with assays in the 1970s, were mainly restricted to the horizontally bedded lower sandstone horizon where the extensive fluorite mineralisation was confirmed to be present in visually significant amounts as a distinctive lilac coloured fluorite. A second round of assaying has now confirmed the Company’s suspicion that pale-coloured fluorite also occurs in the immediately overlying quartzite horizon and it’s flanking transitional zones which were, in many cases, not originally selected for assay as it is difficult to see the pale coloured fluorite against these pale-coloured host rocks.
Tertiary’s Chairman Patrick Cheetham commented: “The results are really quite significant,with individual mineralised intervals up to 43% thicker and with up to 20% higher grade than shown by first round assays alone. Not only do they point to further tonnage potential in an already large mineralised system, but some of the nearer-surface material previously considered as mine waste in 1970s pit designs could now be considered ore.”
The new assay results will be incorporated into the geological model being developed for the Scoping Study which is currently in progress. The concept being developed by the Company is a mining operation producing at least 100,000 tonnes per annum of acid grade fluorspar. The world market for fluorspar is just over 5 million tonnes per annum of which 65% is for acid grade fluorspar. Published prices for acid grade fluorspar have climbed in the past year from US$270 to the current level of US$580 due to shortages of supply from traditional Chinese sources.