| MAR 25, 2002
TERTIARY
ADVANCES ON THREE FRONTS AFTER TOPPING UP ITS TREASURY
-
Team Departs for Saudi Arabia to Oversee Metallurgical Sampling
- Drilling Started at Rosendal Tantalum Project in Finland
- Drill target work in progress at Norwegian Platinum Prospect
Aim-listed exploration
company Tertiary Minerals plc is moving ahead on three
fronts in Saudi Arabia, Finland, and Norway following its recent
successful share placement that topped up its treasury to approximately
£500,000 cash. The company expects to receive another £1.5m of funding
before the end of November as warrants are exercised. It announces
today that:
- A Tertiary
team starts metallurgical sampling work this month in Saudi Arabia
where the company was recently awarded a five year exclusive exploration
licence over the world's largest known tantalum deposit at Ghurayyah
in the north west of the country. The team is headed by Mr Hugh
Stuart, Tertiary's senior geologist, who joined the company last
year from Ashanti Gold Fields where, among other achievements,
he was exploration manager for the Geita project in Tanzania,
work that established 10m ounces of gold resources in three deposits.
Metallurgical test work is scheduled to begin on Ghurayyah ore
in May.
- Drilling
to infill and extend existing resources has started at Tertiary's
promising Rosendal tantalum industrial minerals project in south-west
Finland where a scoping study has already shown it could be economically
developed.
- The company
is carrying out a geophysical survey on its platinum group metal
prospects in the Finnmark district of northern Norway where previous
work by the Norwegian Geological Survey returned wide intervals
of palladium/platinum mineralisation. Targets defined by the work
will be drilled during the coming months.
Mr Patrick Cheetham,
Tertiary's Executive Chairman, says: "We are wasting no time in
pushing ahead with our exploration work on all these promising prospects
which we believe have the potential to turn Tertiary into a successful
and significant mining company."
Further Information:
Patrick Cheetham, Tertiary Minerals plc
Tel: 01625 626203
Mobile: 07767 458751
John Greenhalgh/Ron Marshman, City of London
PR Ltd
Tel: 020 7628 5518 |
