RE: Csr113 Nov 2013 11:49
defo - once the deal is all done and mining started as per RNS ...Before Xmas the I think we could be around the 1p mark or even over that and as per REM if that test holes show god results we could be highr
only my view
The FinnAust Exploration Rights are located in a prolific geological belt which includes the famous Outokumpu copper mine and other high-grade mines. The portfolio is primarily targeting three areas:
o Hammaslahti - Extensions to and structural repeats of the Hammaslahti mine sequence, FinnAust's first drill campaign in 2012 intersected 3.4m @ 11.5% copper and 3 ppm gold down plunge.
o Outokumpu - Focussing on the copper belt famous for its high-grade deposits. Four targets identified for immediate drill testing between and adjacent to and along strike from the world famous Outokumpu copper mine 1908 - 1999 (42Mt @ 3.1% copper + credits from the whole belt).
o Enonkoski - Extensions and repeats of high-grade nickel-copper mineralisation discovered at the old Enonkoski mine which included a drill intercept of 15m @ 6.9% Nickel and 2.0% Copper.
· Previous significant expenditure on regional exploration and in-country set up has confirmed the wide spread occurrence of base metal sulphides, continuation of mineralogy along strike from producing and historically producing mines, in a range of different geological settings. Three high-priority primary areas (as set out above) now delineated amongst over 50 regional targets.
· High-impact 10,300m drill programme to commence post-transaction following 3 years of targeted geophysical work and initial exploratory drilling (inc 3.4m @ 11.5% copper and 3ppm gold at Hammaslahti).
· Work at Hammerslahti is ongoing with a geophysical crew due to be despatched to determine final drill hole locations within 14 days. It is expected that the drill rig will then arrive on site to commence drilling immediately following Admission with the aim of completing several holes before the Christmas holiday