Tertiary Minerals PLC Monday said it has received positive results from final drilling at the MB Fluorspar project in the US state of Nevada and has awarded the contract to complete the site’s first JORC Mineral Resource Estimate.
The AIM-traded fluorspar developer said results from two holes in the southern area of the site showed thick areas of mineralisation including a 51.82 metre space grading 10.73% calcium fluoride from 27.43 metres depth and a 24.38 metre space grading 10.13% calcium fluoride from 62.48 metres depth.
The company also said four holes drilled in the site’s Central Area also showed multiple intersections of mineralisation including a 10.67 metre space grading 13.82% calcium fluoride from 91.44 metres down.
Tertiary Minerals announced in January that strong results from sample logging of drill holes at the site had confirmed the potential for a strong open-pit mineable fluorspar resource at MB Fluorspar.
On Monday, the company said it is now in a position to complete its first JORC compliant Mineral Resource Estimate at the site and awarded Wardell Armstrong International Ltd with the contract.
The company said completion of the maiden estimate is expected at the end of the first quarter or the start of the second quarter.
Fluorspar is a key ingredient in propellants and refrigerants, while it is used as a flux in nuclear fuel and steel making.
Tertiary Minerals shares were up 1.4% to 9.00 pence in early trading Monday.
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