FinnAust Tests Suggest Pituffik Ilmenite Suitable For Sulphate Process

LONDON (Alliance News) - FinnAust Mining PLC said Monday metallurgical tests at its Pituffik titanium project in Greenland continues to suggest the suitability of site minerals for processing.

FinnAust said site samples sent to Allied Minerals Laboratories and subjected to heavy liquid separation produced a "very pure" ilmenite concentrate.

Analysis of the potential ilmenite product from this concentrate "continues to suggest the suitability of the Pituffik ilmenite for direct use in the sulphate process and upgrading to sulphate slag and chloride slag," said FinnAust. Such slag is used in the production of titanium dioxide.

FinnAust also said it has completed an internal review of potential markets and customers and will shortly begin its marketing strategy.

The company reconfirmed it expects to establish a maiden resource for Pituffik during late February or early March.

"Focus during 2017 will turn to further significant value accretive events as Pituffik continues to demonstrate its potential to host a large & high-grade ilmenite deposit which metallurgical test work indicates has the capacity to produce a high-quality concentrate," said Roderick McIllree.

"Work is now underway to identify and secure end-customers alongside the continued advancement of the project. During 2017 we will execute a proof-of-concept bulk sampling programme as well as continue to define the full resource potential of Pituffik. Alongside this, environmental and social impact studies continue to progress as we move towards lodging an exploitation application," added McIllree.

Shares in FinnAust were down 0.7% at 6.90 pence Monday morning.

By Adam Clark; adamclark@alliancenews.com

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