Appointment of SRK Exploration and GEUS

RNS Number : 0757Q

FinnAust Mining PLC

25 February 2016

 

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

25 February 2016

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

Appointment of SRK Exploration and GEUS to Plan and Implement 2016 Work Programme at the Pituffik Titanium Project

FinnAust Mining plc, the AIM listed exploration company with projects in Greenland, Finland and Austria, is pleased to announce that it has appointed SRK Exploration Services Limited ('SRK') and the Geological Survey of Greenland and Denmark ('GEUS') to complete various work programmes associated with advancing development of the Pituffik Titanium Project in Greenland ('Pituffik' or 'the Project'). 

GEUS, who were contracted by Blue Jay Mining in 2015 to provide exploration and logistical support, have now been engaged by the Company for 2016.  GEUS will assist in the design and execution of the 2016 field season alongside FinnAust personnel.  GEUS are also completing the initial metallurgical test work designed to produce a representative concentrate for Pituffik.  Updates on this aspect will be forthcoming in the next few months.

SRK has been appointed to review and standardise exploration activities that should result in, amongst other things, a geological model & initial resource calculation for the high grade Moriusaq target and surrounds. These deliverables are expected towards the end of 2016. SRK will provide a Competent Person for the mineral resource estimation and manage geological aspects.

The Company has also shortlisted groups with respect to completing Social Impact Assessments ('SIA') as well the Environmental Impact Assessments ('EIA') for the Project and anticipates awarding these contracts shortly subject to minor variations on deliverables and timing.  The Company is focussed on the timelines to production and will shortly define these once the critical path is scheduled.

These developments and the recent appointments of Mr. Peter Waugh and TZ Minerals International Pty Ltd, position the Company well as it finalises all aspects necessary to support the rapid advancement of Pituffik, which continues to demonstrate the potential to be in the top percentile of projects worldwide in terms of heavy mineral grade. 

**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

 

 

DRLPGURPPUPQGMC