Tertiary Minerals completes Phase 3 drilling at MB fluorspar project, awaiting results
JOHANNESBURG (miningweekly.com) – Aim-listed mineral exploration and development company Tertiary Minerals has completed the Phase 3 drilling programme ahead of schedule at the MB fluorspar project, in Nevada, US.
Tertiary Minerals MD Richard Clemmey said the company was pleased that the programme was completed ahead of schedule and looked forward to reporting the first batch of analytical results.
The company, which is building a strategic position in the fluorspar sector, drilled nine holes totalling 2 516 m.
The first batch of analytical results is currently undergoing stringent quality assurance and control checks in line with Tertiary Minerals protocols.
The results of the first batch will be released in due course.
Tertiary Minerals, as part of its strategy to build and develop a portfolio of long-life, high-value fluorspar resources in stable, democratic and mining-friendly jurisdictions, announced on September 3, 2012, a lease agreement and option to acquire a group of mining claims in Nevada, the MB property.
Historic exploration results define a major fluorspar deposit that, Tertiary Minerals believes, could have world-class potential.
Tertiary Minerals, on April 16, announced a maiden Joint Ore Reserve Committee-compliant indicated and inferred mineral resource estimate of 38.4-million tonnes, grading 10.4% fluorspar at an 8% cutoff grade.
The indicated mineral resource was 8.9-million tonnes, grading 10.3% fluorspar at an 8% cutoff grade, while the inferred mineral resource was 29.5-million tonnes, grading 10.4% fluorspar at an 8% cutoff grade.
The US government considers fluorspar to be a strategic mineral. There is a large market for fluorspar in the US and around the Pacific Rim, but currently no significant US production.
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