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Hammaslahti mineralisation extended over 500m along north to south strike and remains open
FinnAust Mining plc, the AIM listed exploration company, has announced that assay results have confirmed the discovery of additional high grade copper, zinc, silver and gold mineralisation, which extends the previously identified high grade polymetallic mineralised lode at its Hammaslahti Project in Finland. Hammaslahti is one of three copper, zinc and nickel projects the Company is actively exploring in southern Finland.
Highlights:
· Assay results from drill hole R331, on the southern-most drill section on the Hammaslahti discovery, have confirmed that the newly discovered polymetallic system has been extended to over 500m north to south and over 125m east to west, as expected
· Results include higher grade copper, zinc, lead, silver and gold results:
· R331 drilled circa 150m south of R326 – sulphide zone (disseminated to semi-massive sulphides) of 3.00m @ 1.19% Cu, 0.39% Zn, 17.2 grams per tonne Ag and 0.26 gpt Au from 350m downhole
· The above intercept was within a broader disseminated zone of 10.6m @ 0.50% Cu, 1.10% Zn, 9.7 gpt Ag and 0.1 gpt Au from 348.4m downhole
· Significant zinc zones both above and below the main copper mineralisation including 0.6m @ 5.14% Zn and 3.0m @ 2.26% Zn from 348m and 356m respectively
· Company geologists note that the overall mineralised envelope (>0.3%Cu) encountered in hole R331 is the broadest yet encountered as part of this discovery programme
· The strike remains open to the south, east and west and further holes are currently focussed on testing the extent of the system
· All seven drill holes targeting this lode to date have intercepted the mineralised system, confirming the strength and persistence of the mineralisation
· Drilling of hole R322 is underway, circa 70m to the west of R330 – success with this hole would further grow the lode to nearly 175m in the east to west orientation
· The newly discovered system is well located beneath and proximal to existing underground developments and close to infrastructure
FinnAust Executive Director Alastair Clayton said, “As with every other drill hole into this lode, R331 hit a broad envelope of polymetallic mineralisation. This hole was our largest and boldest step-out hole to date and successfully confirms that our discovery extends to over 500m across the north to south strike and over 125m in the east to west. Importantly, it is clear that the strike remains open to the south, east and west and we are focussed on extending this further, with the drilling of hole R322 currently underway.
“We have an impressive 100% hit-rate from all seven of the holes drilled to date. The key challenge now is to delineate where the highest-grade zones of massive sulphide mineralisation are located and define its extent. Once limits on the overall extent of the lode are better defined we can begin to target specific areas to drill in order to define high-grade resources.”
