Appointment of Mineral Sands Industry Leaders

RNS Number : 1159P

FinnAust Mining PLC

16 February 2016

 

FinnAust Mining plc / EPIC: FAM / Market: AIM / Sector: Mining

16 February 2016

FinnAust Mining plc ('FinnAust' or the 'Company')

Appointment of Mineral Sands Industry Leaders to Assist in Development of Pituffik Titanium Project, Greenland

FinnAust Mining plc, the AIM listed exploration company with projects in Greenland, Finland and Austria, is pleased to announce that, in line with its strategy to rapidly assess the near term production potential of the Pituffik Titanium Project in Greenland ('Pituffik' or 'the Project'), it has appointed independent experts Mr. Peter Waugh and TZ Minerals International Pty Ltd ("TZMI") to assist in this process. 

TZMI is a recognised leader in the provision of accurate & up to date technical, engineering and marketing support within the mineral sand industry, their advice and support will benefit the Company as it continues its assessment of Pituffik.

Work completed to date indicates the potential for the Project to be in the top percentile of assets worldwide in terms of heavy mineral grade.  The initial scope of work conducted by TZMI will focus on leveraging the advantageous characteristics of the mineralisation at Pituffik, such as grade, volume and composition, to create cost effective development scenarios that can then be assessed by the Company and potential investors. 

To compliment this and further strengthen the back end of the business, downstream processing expert, Mr Peter Waugh has also been engaged.  Peter has broad industry management experience as well as valuable knowledge of the international titanium dioxide pigment industry and will assist with end user & off-take arrangements as well as timely metallurgical management and advice.

FinnAust CEO Roderick McIllree said, "We look forward to working collaboratively with Peter and the team at TZMI.  We will benefit immensely from their collective experience in the mineral sands space as we work to define appropriate development scenarios.

"We will update shareholders as things progress, however in the meantime, interested parties can look forward to a steady stream of results driven news and permitting updates from the project as both permitting and technical developments continue throughout the next two quarters as well as other critical path aspects converge."

For further information on TZMI can be found at http://www.tzmi.com/about/company-profile.

**ENDS**

For further information please visit www.finnaust.com or contact:

Roderick McIllree	FinnAust Mining plc	[phone]
Graham Marshall	FinnAust Mining plc	[phone]
Ewan Leggat	SP Angel Corporate Finance LLP	[phone]
Laura Harrison	SP Angel Corporate Finance LLP	[phone]
Elisabeth Cowell	St Brides Partners Ltd	[phone]
Charlotte Heap	St Brides Partners Ltd	[phone]

 

END

 

 

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