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Polymetallic Discovery at Hammaslahti Project continues to grow – mineralisation now intercepted over 500m along north to south strike and all holes in first cross-section hit mineralisation
FinnAust Mining has announced the discovery of additional high grade copper, zinc, lead, silver and gold mineralisation, which has extended the previously identified high grade polymetallic mineralised lode at its Hammaslahti Project in Finland.
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:
· Assay results from three further holes and indications from a fourth, have extended the newly discovered polymetallic system to over 500m north to south and over 125m east to west
· The strike remains open to the south, east and west and further holes are currently focussed on extending the lode further in all directions
· All 6 drill holes targeting this lode to date have intercepted the mineralised system, which is well located beneath and proximal to existing underground developments and close to infrastructure
· Results include high grade copper, zinc, lead, silver and gold results:
· R329 drilled circa 50m south-west of R325 – sulphide zone (including massive to semi-massive sulphides) of 1.4m @ 2.34% Cu, 4.05% Zn, 0.96% Pb, 67.6 grams per tonne (“gpt”) Ag and 0.13 gpt Au from 267.6m downhole
· Hole R330 drilled 50m west of R329 – Cu/Ag sulphide zone (including semi-massive sulphides) of 1.0m @ 2.26% Cu, 36.1gpt Ag and 0.22 gpt Au from 280.5m downhole
· The above intercept was within a broader disseminated to semi-massive zone of 5.15m @ 1.02% Cu, 13.9 gpt Ag and 0.17 gpt Au from 276.4m downhole
· Both R327 and R328 intercepted lower-grade disseminated Cu and Zn mineralisation
· Hole R331 recently completed and NITON handheld XRF analysis highlights that the mineralised envelope continues at least 500m north to south
FinnAust Executive Director Alastair Clayton said, “With this latest batch of drill holes, the recently discovered Hammaslahti lode is beginning to grow in size and potential. Holes R328 to R330 represent the first east to west section across the lode, and accordingly it is especially pleasing to report these further strong grades. Considering that we have now intercepted mineralisation at the recently completed R331 hole, for which we are currently awaiting assay results, we are confident that the lode extends over 500m across the north to south strike and over 125m in the east to west. It is also clear that it remains open to the south, east and west. Consequently, the forthcoming holes have been designed to extend the lode further in all directions, and we look forward to reporting these assays when they are available to us.
“We believe that due to the lack of historic near-mine exploration conducted by state-owned operators, further lodes exist in proximity, and naturally we will focus on identifying these going forward as part of our rolling 10,300 metre drilling campaign. This way, we hope to start understanding the full potential of the Hammaslahti Project, and to identify the highest-grade portions of the lodes, so that we may formulate a future work programme for its development.”
