FAM.L Share News (FAM)

Shares in FinnAust Mining surged over 15% early on Wednesday, after the exploring group said it had identified new mineralised zones in the proximity of previously producing mines at its projects in Finland.In a statement released on Wednesday, the company said the new mineralised areas are located at both Kelkka and Hammaslahti, where the company has discovered new lodes and extensions to the previously mined zones.FinnAust has completed 15,000 metres of drilling across the Hammaslahti Copper Project, the Kelkka Nickel-Copper Project and the Outokumpu Copper Project and the company said it was now 'ideally positioned' to plan further exploration programmes for each of the projects."We are focused on translating these discoveries into development opportunities and with our understanding of the licence areas now refined, our near term priority is to concentrate on future drill targets," said group chairman Dan Lougher.Meanwhile, the group unveiled plans to sample mineralised outcrops on the Southern region of the Hammaslahti Belt in August 2015 to assist with its target generation initiatives.FinnAust shares were up 16.07% to 1.62 at 08:32 on Wednesday.