11th Sep 2013 10:49
LONDON (Alliance News) - Tertiary Minerals PLC Wednesday said it has completed the first phase of its drilling programme at the company's Fluorspar project in Nevada, US.
The mineral exploration and development company with operations in Scandinavia and the US said the objective of its first phase was to evaluate the most cost effective drilling technique for the project and was completed in line with expectations.
The two drill holes at the site discovered fluorspar of 42.67 metres at a 12.7% average grade and 28.96 metres at a 10.5% average grade. The company said its drill holes also contained intersections of zinc, tungsten and beryllium mineralisation.
Fluorspar is an essential raw material used in the chemical, steel and aluminium industries.
"It is very pleasing to be able to report that the Phase 1 RC drilling results are in line with expectations based on historical work on the project and we look forward to reporting the results of Phase 2 as they become available," Operations Director Richard Clemmey said in a statement.
Tertiary minerals shares were down 0.10 pence, or 1.5%, to 6.40 pence Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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