Hot Features
Premium
Trade smarter, not harder: Unleash your inner pro with our toolkit and live discussions.
More High-Grade Polymetallic Mineralisation Discovered at Hammaslahti Target, in Southern Finland
FinnAust Mining plc is pleased to report the discovery of more copper, zinc, lead silver and gold mineralisation at its Hammaslahti Project. FinnAust is an AIM listed exploration company, which is actively exploring a portfolio of copper, zinc and nickel projects in Finland and Austria including the previously mined Hammaslahti Cu-Zn deposit in Southern Finland.
Highlights:
· Hole R326 – sulphide zone (including massive to semi-massive sulphides) of 4.0m @ 3.12% Cu, 3.78% Zn, 0.54% Pb, 66.58gpt Ag and 1.82 gpt Au from 279.9m downhole.
· This intercept was within a broader disseminated to semi-massive zone of 10.0m @ 1.13% Cu, 1.80% Zn, 0.24% Pb, 28 gpt Ag and 0.74 gpt Au from 275m downhole
· R326 was drilled 100m South of R325 – sulphide zone (including massive to semi-massive sulphides) of 5.6m @ 3.2% Cu, 2.7% Zn, 0.7% Pb, 71gpt Ag and 0.76 gpt Au from 196.80m downhole.
· The Company has now traced this new lode over 200m in strike length and the drilling of R327, a further 100m South of R326 has commenced.
FinnAust Executive Director Alastair Clayton said, “This is fantastic result for the exploration team. Hole R326 had been designed to target the shallowly plunging, high-grade poly-metallic mineralisation discovered in R325. We stepped out 100m and hit the lode almost exactly where our geologists expected it to be. This lode sits directly beneath and proximal to the historic drives should they be re-activated.”
“With the high-grade, multi-metal nature of the mineralisation discovered to date we are excited to be growing this lode and remain positive on the ability of our team to discover more such structures and grow the Hammaslahti Project through the drill bit.”
Additional Information:
The Company is encouraged by the fact the mineralisation discovered as part of the drill programme is relatively shallow and proximal to the historic pit and underground drives. Company geologists believe this mineralisation is part of a relatively continuous North to South plunging lode system transitioning from shallow zinc and gold in the North to copper as it deepens in the South.
Company geologists also believe this new lode sits en-echelon (slightly to the North and East) the main Hammaslahti zinc lode mined until the 1986.
Hammaslahti Target:
The Hammaslahti Copper Project is located in southern Finland and includes a previously mined copper-gold-zinc ore body interpreted to be a part re-mobilised volcanogenic massive sulphide type deposit. Historically, mining initially commenced at several shallow open pits, followed by an underground mine to a depth of approximately 450m. Mining ceased in the mid-1980s due to depressed metals prices.
In mid-December 2013, FinnAust commenced drilling regional targets near Hammaslahti. This forms part of its 10,300m 11 month rolling drilling campaign focussed across its three high-priority copper-gold and nickel-copper-platinum group element projects, Hammaslahti, Outokumpu and Enonkoski.
