Nice RNS10 May 2016 08:12
Loads to read! All sounds good to me!
FinnAust CEO Roderick McIllree said, "With the geological model for the Pituffik Titanium Project complete we now have a clear understanding of the project dimensions. We are preparing work programmes accordingly and remain confident that we will deliver an initial resource calculation from the work carried out during 2016. The Company also continues to focus on the delivery of a proof-of-concept, cash generative 'bulk sample' in 2017.
"With the model in hand, it is now possible to understand the significance of this Project in terms of volume of mineralisation for the very first time. To fully appreciate the dimensions of the titanium rich sediments one must do so from a helicopter at a height of 1500m, only then can the true regional extent of this material can be understood. The fact that the Project is comprised only of high grade homogenous ilmenite of low impurity presents FinnAust with a unique opportunity to potentially deliver production rapidly and at low cost. With this in mind, alongside our highly experienced consultants, we continue to prepare both the logistics studies as well as the work programmes that will further progress the Project. We look forward to providing full details on the key aspects of these shortly."