Tertiary Minerals Gets Fluorspar Exploration Rights At Lassedalen

8th Jul 2010 07:32

LONDON (Dow Jones)--Tertiary Minerals PLC (TYM.LN), a mineral exploration and development company, said Thursday it has been granted exploration rights for fluorspar at the former producing Lassedalen Fluorspar Mine near Kongsberg, 80km to the south-west of Oslo in Norway. MAIN FACTS: -The area has excellent infrastructure and a rich mining history. -Fluorspar mineralization at Lassedalen occurs in steeply dipping veins and as disseminations within an east-west striking fault breccia that is reportedly up to 8km long and generally between 15 and 30 million wide, but up to 80 million wide in places. -Company holds exploration permits at Lassedalen that grant exploration rights to claimable minerals and the Company has secured exploration rights for non-claimable minerals from private land and mineral owners under new mining legislation introduced earlier this year. -Company will be required to submit a bond in the amount of 200,000 Norwegian Kroner prior to the -There are no other ongoing costs to maintain the rights and no specific expenditure obligations. -Company is planning a program of exploration at Lassedalen in order to define Mineral Resources and evaluate the metallurgical characteristics of the fluorspar mineralization. -Shares closed Wednesday at 3.13 pence. -By Tommy Stubbington, Dow Jones Newswires; 44-20-7842-9268; [email protected] (END) Dow Jones Newswires July 08, 2010 02:32 ET (06:32 GMT)