Tertiary Minerals reveals hotly anticipated MB fluorspar estimate
Tertiary Minerals (LON:TYM) this morning revealed the hotly anticipated tonnage and grade estimate for the MB fluorspar project, in Nevada.
Wardell Armstrong International (WAI), the company’s consultant, estimates that the project hosts between 85 and 105mln tonnes of mineralisation grading between 9 and 11% fluorspar.
The report suggests potential for at least 8mln tonnes of contained fluorspar, Tertiary said, and that is double the amount of fluorspar resources at the group’s two Scandinavian projects combined.
In addition to that WAI says the project was part of a larger mineralised system, and it estimates this exploration target has between 395 and 615mln tonnes at grades of 5 to 7% fluorspar.
WAI has recommended a staged drill programme to upgrade these estimates into JORC compliant mineral resources.
“The mineralised system is very large. It is open at depth and laterally over much of the drill area and most of the drilling is shallow,” said chairman Patrick Cheetham.
“There is considerable potential to increase the size of the economically interesting mineralisation and in particular the higher grade sections which will be the focus of our initial drill programmes."
The WAI report is based on historic drill results which comprise 108 holes over a period of 24 years - from 1960 to 1984. According to Tertiary this is the first time all of the data has brought together into a comprehensive tonnage-grade estimate using ‘rigorous estimation methods.’
