FinnAust Mining is an UK based titanium exploration firm with a portfolio of highly prospective licences at various stages of development in mining locations in Greenland, Finland.
In Greenland, the Company is exploring the Pituffik Ilmenite Project, which includes a very large and unusually pure titanium occurrence. Work to date indicates potential for Pituffik to be in the top percentile of mining projects worldwide in terms of heavy mineral grade, and this has been independently verified.
FinnAust’s strategy is focused on the production of a bulk sample “proof of concept” from the Pituffik Project with the aim of ultimately generating cash flow to create a company capable of self-funding exploration on future acquisitions.
The Company recently announced the acquisition of Avannaa Exploration, a Greenlandic exploration company that owns two polymetallic drill ready targets. The Disko Magmatic Massive Sulphide (‘MMS’) nickel-copper-platinum project and Kangerluarsuk, a lead-zinc-silver project in Greenland, appear to have high-tonnage and high-grade base metal potential. These are rare geological characteristics not often seen in the minerals space. These multi-metal projects have been of interest for some time with major mining houses such as Falconbridge, Vismand & Capricorn Energy (a subsidiary of Cairn Energy PLC) having spent more than US$75 million on these projects over multiple campaigns spanning more than three decades.
The company is now ideally placed with a portfolio of 100% owned or options to acquire 100% on three globally significant exploration assets in addition to the production potential Pituffik.
The Company will review various opportunities that come to its attention to continue to deliver on its stated objective of acquiring high quality assets to expand and complement the its existing portfolio.