Business
Positive Results from Pituffik Titanium Project
Positive Results from Pituffik Titanium Project.
About this update from 80 Mile Plc
[{"type":"text","content":"\n \nRNS Number : 7158N FinnAust Mining PLC 02 February 2016 \n\nPlease click on or paste the following link into your web browser to view the associated PDF document:\nhttp://www.rns-pdf.londonstockexchange.com/rns/7158N_1-2016-2-1.pdf \n \nFinnAust Mining plc / EPIC: FAM / Market: AIM / Sector: Mining\n2 February 2016\nFinnAust Mining plc ('FinnAust' or the 'Company')\nSurvey Results Confirm High Grade Ilmenite Mineralisation Extends into Shallow Marine Environment\n \nFinnAust Mining plc, the AIM listed exploration company with projects in Greenland, Finland and Austria, is pleased to announce results from the bathymetry (depth) and seismic profiling survey as well as the extensive sea floor sampling programme at the Pituffik Titanium Project in Greenland ('Pituffik'). The initial survey consisted of 300 line kilometres, followed by a further 38 line kilometres of infill and a wide spread sea floor sampling programme.\n \nHighlights\n \n· Results demonstrate that the shallow marine environment hosts very large volumes of potentially high grade titanium \n \n· Hosted within shallow, extensive and thick ilmenite rich sediments extending for >30km in length and 1,000m in width \n \n· The sedimentary horizons are on average more than 5m in thickness (up to a maximum thickness of 27m)\n \n· These results multiply the amount of known titanium mineralisation significantly\n \n· Three sedimentary units identified in total, the two most shallow sequences show visual concentrations of ilmenite, the third or \"high stand\" sequence wasn't sampled during 2015 however continues to represent an attractive exploration target even if in slightly deeper water of 20-30m\n \n· Positive results reinforce the stated strategy to deliver a bulk sample/proof of concept production by 2017\n \n· Results from offshore sampling programme over the shallow marine drowned beaches out to 1,000m from shore are expected in the next couple of months\n \n· Following receipt of all results from the 2015 work programme, which includes outstanding sampling results from all three project areas, FinnAust will announce its full 2016 work programme incl...