Altona Mining: HIGH GRADE DRILL RESULTS AT THE KYLYLAHTI MINE
(firmenpresse) - HIGH GRADE DRILL RESULTS AT THE KYLYLAHTI MINE
• Upper Wallaby zone extends deeper and higher grade; 14.8m at 4.0% copper
• Lower Wombat zone extends higher and is thicker; 18.4m at 2.3% copper
• High grade gold hits in hanging wall of Wallaby; 11m at 16.1g/t gold
• All intercepts adjacent to mine development
Altona Mining Limited (“Altona”) is pleased to provide a drilling update at its Kylylahti underground mine in south-east Finland. The Kylylahti deposit comprises two zones, an upper zone termed
Wallaby and a lower zone named Wombat. The gap between these two zones was ill-defined in surface drilling and has been subject to intensive drilling from underground in the past few months. The upper Wallaby zone has been found to be thicker, extend deeper and is significantly higher grade
than the grade of the resource model (1.6-1.8% copper).
Better intercepts include:
Hole Width (m) Copper (%) Gold (g/t)
KU-347 13.4 4.7 0.8
KU-337 14.8 4.0 1.2
KU-263 11.3 4.6 0.9
KU-250 14.7 3.2 0.7
KU-346 6.7 5.0 2.1
KU-275 6.6 5.1 1.6
KU-336 7.3 4.8 1.9
KU-270 6.6 4.2 1.3
The lower Wombat zone has been extended 10-30 metres higher and now overlaps with the Wallaby zone. Grades are similar to the previous resource model but thicknesses are much greater. Better intercepts include:
Hole Width (m) Copper (%) Gold (g/t)
KU-330 7.5 2.5 0.3
KU-335 8.5 1.9 0.4
KU-336 10.3 2.3 0.3
KU-346 18.4 2.3 0.7
KU-337 11.0 2.1 0.5
KU-332 7.6 1.7 0.3
KU-338 10.4 2.3 0.7
KU-347 11.4 1.7 0.5
KU-339 8.0 2.4 0.6
A gold rich zone has been defined in the hanging wall of the Wallaby zone and includes some high
grades:
Hole Width(m) Copper (%) Gold (g/t)
KU-296 9.0 0.1 6.0
KU-294 18.0 0.2 2.7
KU-182 11.0 0.9 3.2 (16.1g/t uncut)
KU-154 5.0 0.2 6.2
KU-191 2.0 1.0 7.3 (18.5g/t uncut)
Please note gold grades are cut above 10g/t.
The drilling is continuing and will be incorporated into a Resource update and the mine plan. It is likely that this new mineralisation when incorporated into the mine plan will replace much of the mine depletion due to production in 2013 but at higher grades.
Figure 1 (http://www.altonamining.com/static/uploads/documents/high_grade_drill_results_at_the_kylylahti_mine.pdf): North-south longitudinal projection (looking west) showing grade distribution in the Wallaby
zone and the location of the high grade zone at the lower limit of Wallaby.
Figure 2 (http://www.altonamining.com/static/uploads/documents/high_grade_drill_results_at_the_kylylahti_mine.pdf): East-west cross section 6972 810mN showing overlap of upper Wallaby zone with lower
Wombat zone
Figure 3: Perspective view (looking north-west) of the Wallaby - Wombat gap illustrating grade
distribution in the lower part of the Wallaby zone and showing proximity of newly defined
high-grade zone to existing mine development.
Please direct enquiries to:
Alistair Cowden James Harris Jochen Staiger
Managing Director Professional Public Relations Swiss Resource Capital AG
Altona Mining Limited Perth Tel: +41 71 354 8501
Tel: +61 8 9485 2929 Tel: +61 8 9388 0944 js(at)resource-capital.ch
altona(at)altonamining.com james.harris(at)ppr.com.au
About Altona
Altona Mining Limited is a copper producer in Finland and has a major copper development project in
Australia.
The Company’s Outokumpu Project in south-east Finland commenced production in early 2012. The project comprises the 550,000 tonnes per annum Kylylahti underground decline mine and the refurbished Luikonlahti mill. The annual production rate averages 8,000 tonnes of copper, 8,400 ounces of gold and 1,600 tonnes of zinc. Regional resources are located in 2 closed mines and 4 unmined resources within 30 kilometres of the Luikonlahti mill. Finland is a Eurozone country and has a long history of mining, an attractive corporate tax regime (20%) and no royalties. Altona’s other core asset is the Roseby Copper Project near Mt Isa in Queensland and is one of Australia’s largest undeveloped copper projects with a resource containing 1.52 million tonnes of copper and 0.38 million ounces of gold. The first development envisaged is the 7 million tonnes per annum Little Eva open pit copper-gold mine and concentrator. Little Eva’s proposed annual production is 38,800 tonnes of copper and 17,000 ounces of gold for a minimum of 11 years. A Definitive Feasibility Study has been completed and the project is fully permitted. Altona is listed on the Australian Securities Exchange and the Frankfurt Stock Exchange.
Competent Persons Statement
The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Dr Alistair Cowden BSc (Hons), PhD, MAusIMM, MAIG and Mr Jari Juurela, MSc, MAusIMM who are full time employees of the Company and have sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Messrs Cowden and Juurela consents to the inclusion in the report of the matters based on their information in the form and context in which it appears. Details of assaying and sampling methodology for the Kylylahti mine are detailed in the JORC Table 1 disclosure in the ASX release dated 9 April 2013 and titled Kylylahti Mine Resource and Reserve update.
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