• Further Joint Venture Agreement signed with Inmet
• Airborne gravity survey to target copper-gold mineralisation this month
• Drill testing scheduled for April
Tertiary Minerals plc is pleased to announce that it has executed a further and more detailed option and joint venture agreement with Inmet Mining Corporation subsidiary Pyhäsalmi Mine Oy for the Vähäjoki copper-gold project in northern Finland.
The new agreement expands the heads of terms contained in the agreement announced on 6 September 2007 and grants Inmet a 6 month extension to its expenditure commitments under that agreement.
Since September 2007 Inmet has completed magnetic and electromagnetic geophysical surveys at Vähäjoki which, when interpreted with previous exploration data, have defined a large target area believed to have high potential for iron-oxide-copper-gold (“IOCG”) mineralisation.
Inmet has contracted Bell Geospace Ltd to fly an airborne gravity survey this month at Vähäjoki. This aims to detect gravity anomalies caused by any significant IOCG style mineralisation and to generate drill targets. Drilling is scheduled to commence in April, conditional on the results of the airborne survey.