| May
13, 2003
DRILLING RESULTS – FINNMARK
PGE PROJECT
Tertiary Minerals
plc (“Tertiary Minerals” or “the Company”)
announces initial assay results from a recent drilling programme
on its Finnmark Platinum Group Element (PGE) project in Norway,
the first of a number of projects to be drill tested this Spring
and Summer.
Anomalous PGE intersections were made in each of the three holes
drilled with broad intersections of anomalous PGM values in composite
samples and higher anomalous values in narrow sections.
Significant assay results are as follows (all samples assaying greater
than 0.1g/t platinum+palladium+gold) :
| Hole
No. |
From
(m)
|
Intersection
Width (m)
|
Pt+Pd+Au
g/t
|
Pt
g/t
|
Pd
g/t
|
Au
g/t
|
| 03GD001 |
12.35 |
0.55 |
0.69 |
0.27 |
0.38 |
0.04 |
| |
52.40 |
1.00 |
0.12 |
0.05 |
0.06 |
0.01 |
|
|
|
|
|
|
|
| 03GD002 |
26.90 |
4.00 Composite |
0.26 |
0.03 |
0.03 |
0.20 |
| |
30.90 |
4.00 Composite |
0.11 |
0.05 |
0.04 |
0.02 |
| |
39.00 |
4.00 Composite |
0.15 |
0.05 |
0.06 |
0.04 |
| |
43.00 |
0.55 |
0.12 |
0.05 |
0.06 |
0.01 |
| |
117.2 |
1.80 Composite |
0.11 |
0.04 |
0.06 |
0.01 |
|
|
|
|
|
|
|
| 03GD003 |
48.4 |
2.00 Composite |
0.10 |
0.05 |
0.04 |
0.01 |
| |
58.1 |
4.00 Composite |
0.16 |
0.06 |
0.07 |
0.03 |
The
programme was designed to investigate the discovery of PGE mineralisation
made by Tertiary in its recent summer field programmes which identified
a small outcrop within a North-South striking ultramafic intrusion
where two grab samples averaged 2.5 grammes per tonne platinum (Pt)
+ palladium (Pd) + gold (Au) with a Pt-Pd ratio of approximately
1:1. Subsequent geophysical exploration identified a Induced Polarisation
(IP) anomaly associated with the PGE bearing outcrop but extending
for several hundred metres north-south along strike.
Two drill holes (03GD001 and 2) tested the IP anomaly beneath the
outcropping PGE mineralisation. Hole 03GD002 was drilled 80m behind
03GD001 on approximately the same Easting. The third hole (03GD003)
tested the same anomalous zone 700m to the south. All holes were
drilled at –45 degrees west.
The majority of anomalous samples contain only low levels (approx.
1%) of sulphide minerals (the likely cause of the IP anomaly) and
there is not a direct correlation between higher sulphide content
and higher anomalous PGE values.
Consequently the controlling factors on the location of PGE mineralisation
are not yet established and further assaying and mineralogical work
is therefore required before concluding if this small programme
has effectively tested the economic potential of this PGE bearing
intrusion.
Further Information:
Patrick Cheetham, Executive Chairman, Tertiary Minerals. Tel: 01625-626203
John Greenhalgh, City of London PR. Tel: 020-7628-5518
N.B For reported assays, sample preparation was carried out at the
SGS laboratories in Ojebyn, Sweden, where the core was cut in half
using a diamond saw. Half the core was pulverised to 90% <75microns.
Composites were made up of equal amounts of individual samples and
100g shipped to ALS Chemex, Canada for assay by methods PGM-MS24
(50g Fire assay with ICP-MS Finish). A total of 50 samples were
sent for assay, including 18 composite samples.
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