| May 1, 2002
TERTIARY'S TWO-FOLD TANTALUM STRATEGY ON
TRACK WITH PROGRESS ON SAUDI ARABIAN AND FINNISH PROJECTS.
- Evaluation
Of World Class Ghurayyah Deposit Off To Quick Start.
- Results Of
Drilling At Rosendal Due In Three Weeks.
AIM-listed
Tertiary Minerals plc, is on track with its two-fold strategy to
become a producer of tantalum, a metal that has seen rapid demand
growth because it is essential in the production of portable electronic
items such as mobile 'phones and laptop computers.
Executive Chairman Patrick Cheetham points out in the March quarterly
review that Tertiary is hoping to bring its Rosendal project in
Finland into production quickly. This is a modest tantalum deposit
capable of near-term production without significantly affecting
world markets. In the quarter Tertiary achieved its second aim -
identifying a world-class deposit capable of supplying big tonnages
of tantalum over many years that could come into production in three
to five years at a time when substantial supply deficits are forecast.
In January Tertiary was awarded a five-year exclusive exploration
licence over the world-class Ghurayyah tantalum/rare-metal deposit
in Saudi Arabia and quickly moved to further evaluate the deposit.
For Ghurayyah so far Tertiary has: received bids for a comprehensive
programme of mineralogical characterisation and metallurgical test
work; received a report from St Barbara Consulting reviewing the
existing metallurgical test work data and proposals for further
test work; selected Lakefield Research in Canada as the contractor
for metallurgical test work and process development; located and
re-logged all drill core and RC samples from a 1999 US Geological
Survey drill programme; and completed re-logging and sampling of
RC drill chips and diamond core for re-assay and metallurgical test
work.
Lakefield Research will now carry out gravity and magnetic pre-concentration
and flotation test work with the objective of producing a concentrate
of tantalum and niobium for sale or for further processing to separate
tantalum and niobium products. This programme will take about 18
weeks to complete.
Meanwhile, at Rosendal, following a decision in the December quarter
to go ahead with a preliminary feasibility study for development
of the deposit, Tertiary has completed 130m of trenching and associated
sampling and 1,221m of diamond core drilling in 14 holes. All these
holes intersected the main Rosendal tantalum bearing Rosendal Dyke
and results from this programme will be announced when all the assay
data are available in about three weeks time.
FULL TEXT OF QUARTERLY AVAILABLE ON REQUEST
Further Information: Patrick Cheetham, Tertiary Minerals:
Tel: 01625-626203; mob: 07767-458751.
Ron Marshman/John Greenhalgh, City of London PR Ltd.
Tel : 020-7628-5518 |
