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Tertiary Minerals jumps after successful drilling

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    Date: Tuesday 13 May 2008

    LONDON (ShareCast) - Shares in Tertiary Minerals rose more than 10% as drilling at its Swedish fluorspar deposit showed positive initial findings.

    “My initial impression is that the programme has met all of our expectations, and more. We need to wait for the assay results but the drilling has certainly confirmed a large deposit of fluorspar mineralisation and the step-out holes show potential for further substantial extensions,” chief executive Patrick Cheetham said speaking after a visit to the deposit, which is at Storuman in northern Sweden.

    Fluorspar, which is also known as calcium fluoride, is used in the production of aluminium and steel. Tertiary hopes to produce 100,000 tonnes a year, compared with global demand of around 5m tonnes.

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