FAM.L Share News (FAM)

LONDON (Alliance News) - FinnAust Mining PLC Tuesday said it has discovered a new area of copper mineralisation as part of the exploration programme currently taking place at the Hammaslahti copper, zinc and gold mine in Finland but one of its wells has been stopped early due to a technical issue.

The Finnish metals miner, which listed on AIM last December said drilling on its Hole R317 has shown a 5.5 metre space in its upper zone at 1.46% copper from 166 metres in depth and a 11.0 metre space in its lower zone at 1.24% copper from 176 metres in depth.

The company said that both zones were contained within a very large mineralised region of 20.45 metres at 1.12% copper.

FinnAust added that its drillhole R318, which is near to the site, has also intersected a large copper mineralised region, with assays soon to be studied and released.

The company also said its R319 well drilled 100 metres north of the R317 site, intersected a 40 metre zone of un-mined zinc and copper mineralisation before being terminated early due to a technical issue.

It said the drilling was stopped just short of its primary target, with assays pending for the shortened drill hole.

FinnAust Mining shares were trading flat at 3.00 pence Tuesday.

By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1

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