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New High-Grade Polymetallic lode Discovered at Hammaslahti Target, Finland
FinnAust Mining has reported a new potential ore lode of copper (“Cu”), zinc (“Zn”), lead (“Pb”), silver (“Ag”) and gold (“Au”) mineralisation has been discovered at its Hammaslahti Project. FinnAust Mining plc 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 R325 – sulphide zone (including massive to semi-massive sulphides) of 5.6m at 3.2% Cu, 2.7% Zn, 0.7% Pb, 71gpt Ag and 0.76 gpt Au from 196.80m downhole.
· This high-grade massive to semi-massive sulphide mineralisation has been found within a broader mineralised envelope of 8.65m at 2.2% Cu, 2.0% Zn, 0.5% Pb, 47gpt Ag and 0.50 gpt Au.
· The lower-grade up-plunge portion of this mineralised lode was intercepted in 3 drill holes R321, R322, R324 on a single traverse 100m north of R325 indicates grades are improving down plunge.
· Main Hammaslahti mine structure hosting at least 4 separate plunging lodes now open to the north of the old Zinc pit with 5.6m at 3.2% Cu and down dip extensions to the south with 3.5m at11.5% Cu. A strike length of 1.8 km.
· Mineralisation is relatively shallow and proximal to the historic underground drives and associated mine infrastructure
· These excellent results include gold grades that exclude two high-grade (>10 gpt over 1.2m as well as 5.78gpt over 1m) results that could not be repeated by the assay laboratory in checks. First pass check assays at a different laboratory have failed to resolve the issue satisfactorily. The Company’s geologists believe this may be due to coarse gold in some samples and thus the gold grades reported represent a minimum and may in time prove to be higher. The Company is continuing to work with its assay providers to determine if coarse gold is present or not.
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 and north.
“At the time of listing in December 2013 the Company believed that, despite having historically mined three Southerly plunging en-echelon ore lodes, there existed potential for many more. Drilling at Hammaslahti has now discovered this new lode and extended the zinc lode to the south. Recent work also indicates the potential for further parallel sulphide potential structures to the east of the main lodes. The Company has granted and is pending leases over this entire area.
“Planning will now focus on how to best drill the high-grade portions of these new mineralised structures to better define overall grade and tonnes. It is pleasing to note the proximity of these structures to the existing mine infrastructure.”
