25th Sep 2014 08:47
LONDON (Alliance News) - Finnaust Mining PLC Thursday said it has discovered additional high grade copper, zinc, lead, silver and gold mineralisation at its Hammaslahti project in Finland, following the strong results from its R326 hole that were announced in August.
The AIM-listed exploration company said hole R329 drilled 1.4 metres at 2.34% copper, 4.05% zinc, 0.96% lead, 67.6 grammes per tonne of silver and 0.13 grammes per tonne of gold.
Hole R330 drilled 1 metre at 2.26% copper, 36.1 grams per tonne of silver and 0.22 grams per tonne of gold, said the company.
Holes R327 and R328 intercepted lower-grade disseminated copper and zinc mineralisation.
This forms part of its 10,300 metre, 11 month rolling drilling campaign focussed across its three high-priority copper-gold and nickel-copper-platinum group element projects, Hammaslahti, Outokumpu and Enonkoski, said the company.
"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," said Executive Director Alastair Clayton.
"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," he added.
"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," said Clayton.
Finnaust Mining shares were trading 0.6% higher at 2.39 pence per share Thursday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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