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New potential Copper discovery in Southern Finland
FinnAust, the AIM listed exploration company with a portfolio of copper, zinc and nickel projects in Finland and Austria, has reported a new area of copper mineralisation discovered as part of the on-going exploration programme currently taking place around the previously mined Hammaslahti copper, zinc and gold mine in southern Finland.
Highlights:
· Hole R317 – Upper zone 5.5m @ 1.46% copper (“Cu”) from 166m. Lower zone 11.0m @ 1.24% Cu from 176m
· Both zones contained within a very large mineralised envelope of 20.45m at 1.12% copper
· Drill hole R318, circa 100m south of R317 and down plunge, has intercepted a large copper mineralised envelope – assays pending
· Drill hole R319, drilled 100m North of R317, intercepted approximately 40m un-mined zinc (‘Zn’) and copper mineralisation before being terminated early due to a technical issue, short of the primary target – assays are pending for this shortened hole
FinnAust Executive Director Alastair Clayton said, “This is an excellent drill result and we believe the follow up holes will extend the known mineralised zone to the south. We are exploring for high-grade copper mineralisation and the >1% grades and large widths reported from the first hole placed near to the historical mine are a really strong start. The Company will now continue drilling to increase the dimensions of the mineralised envelope and to seek areas with remobilised metal sulphides that have the highest grades for both copper, zinc and gold.”
Drill hole R317 was the first hole drilled as part of the 2014 programme to explore the area nearest to the previously operating Hammaslahti copper, zinc and gold mine in southern Finland. Drilling undertaken by the Company prior to this has focussed on regional geophysical targets to take advantage of preferred winter access on frozen ground.
Importantly, two further drill holes, R318 and R319, have been completed and appear to extend the zone of known mineralisation substantially, terminating at the old zinc/gold open pit up-dip and are potentially open at depth and laterally. Assays for these holes are pending.
