Hot Features
Premium
Register for streaming realtime charts, analysis tools, and prices.
Kelkka Nickel Sulphide Project – Remobilised and disseminated nickel and copper sulphides interested from first drill programme
FinnAust Mining, an AIM listed exploration company with a multi-project copper, zinc and nickel portfolio in Finland and Austria, has announced the completion of its first drilling programme at the Kelkka Nickel Sulphide Project with hole R306 intersecting remobilised and disseminated nickel and copper sulphides.
Highlights:
· R306, drilled at Laukunlampi, just NW of Kelkka, intersected an interval of remobilised Ni/Cu sulphides comprising 1.5m @ 0.68% Ni and 0.31% Cu from 61.5m.
· The presence of remobilised and disseminated fracture filled nickel and copper sulphide veins, veinlets and blebs is very encouraging. Whilst the grades are themselves not as high as hoped for most importantly it indicates the Laukunlampi intrusive body is capable of hosting nickel / copper mineralisation of the type we are seeking.
· A Downhole Electromagnetic (DHEM) survey was completed on R306. The results of the survey showed an off hole anomaly to the west of the hole indicating the presence of a conductive body in the vicinity of the western margin of the Laukunlampi intrusive body.
· At Kelkka, R304 and R305 intersected mafic to ultramafic rocks that contained broad, low-grade disseminated nickel and copper sulphides. R303 hit non-nickel bearing sulphides.
· Given the success at R306 a follow-up drilling programme designed to test the western margin (including the source of the conductive body identified in the DHEM) and the relatively shallow remobilised sulphides at Laukunlampi is due to commence in the next 10 days.
FinnAust Executive Director Alastair Clayton said, “With R306 we have proven the existence of previously undiscovered horizons of remobilised nickel and copper sulphides. Whilst the grades are lower than first anticipated the fact that both veins and more disseminated mineralisation was discovered is very encouraging.
“What is also an excellent result is the indication of a possible conductive body on the margin of the intrusion of a known ultramafic contact. We are pleased to report that the rig is expected to be despatched to site to commence this follow-up drill programme within the next week to 10 days.”
