The area is considered prospective for volcanogenic massive sulphide (‘VMS’) mineralisation. The historic Hammaslahti mine, another significant historical producer of copper & zinc operated by Outokumpu Oy which started as an open pit that expanded underground (operational between 1973 and 1986) is within the company’s licence holdings. Total ROM production was ±10Mt at an average grade of 1.16% of copper & 1.55% of zinc 0.59 g/t of gold and 5.2 g/t of silver.
Drilling by the company has identified previously unknown extensions to the Hammaslahti mine mineralisation with multiple intersections of high grade massive sulphides.
Examples of this extensional mineralisation are 3.4m @ 11.5% Cu and 3 ppm Au. Two main target areas have been identified through the 2012 ZTEM survey:
Recent drilling by FinnAust intersected a Felsic/Graphite Schist contact, 118m deep and 2 km east of the Hammaslahti mine. These geophysical anomalies are interpreted to be a repetition of the mine’s alteration and mineralisation system along strike. This project is a high priority target area.
Potential extensions to the Hammaslahti ore body – believed to be down plunge and below mine. Best intersection to date by FinnAust: 3.4m @ 11.5% Cu, 54.4ppm Ag, 3ppm Au.
In addition, the Company has identified a target roughly 5 km west of the Hammaslahti mine (the Suhmura Complex), which displays many characteristics similar to the old mine.
Focussing on the prolific Copper-Nickel belt famous for its high-grade deposits, we have identified four sub-targets for immediate drill testing.
Outokumpu is located in eastern Finland on the north-south trending Outokumpu-Savonranta Belt (also known as the North Karelian Schist Belt), which is approximately 210 km long.
The Hammaslahti Area lies immediately to the southeast of Outokumpu, approximately 30 km southeast from Joensuu town, eastern Finland.