The mineral explorations and development company said the latest move is in line with its strategy to acquire and develop long-life fluorspar mining assets.
The property, which is a group of mining claims, is situated 19km southwest of Eureka, a county mining town in Nevada.
Tertiary Minerals executive chairman Patrick Cheetham said "Whilst the Board will not be diverted from its focus to develop the Company’s key European fluorspar projects, it is anticipated that due diligence will confirm this to be an exciting project that will diversify the Company’s fluorspar development options, increase its ability to supply additional markets and substantially add value to the business it is building."
With 40 contiguous unpatented mining claims, the property spans an area of 810 acres. The firm has initially paid $10,000 as well as $5,600 in claim fees for the period beginning from 1 September 2012.
Under the terms of the project lease and option agreement, Tertiary Minerals can evaluate the project in detail for a due diligence period of three months. It plans to immediately initiate the review of the site.
The property is estimated to contain about 108 drill holes, which were analysed for fluorite, according to the US Geological Survey.
