Altona Mining: High grade drill results continue at the Kylylahti mine
(firmenpresse) - Altona Mining: High grade drill results continue at the Kylylahti mine
• Upper part of Wombat zone returns excellent drilling intersections:
- 29.0m at 4.7% copper
- 37.6m at 3.2% copper
- 36.0m at 3.3% copper
- 26.7m at 3.4% copper
- 20.4m at 4.1% copper
• All intercepts adjacent to mine development and will be included in the mine plan for 2014 and 2015
Altona Mining Limited (“Altona”) provided an update from the continuous underground drilling at its Kylylahti underground mine in south-east Finland on 18 July 2013. As the mine develops deeper, underground drilling is undertaken to accurately define the location of development and to provide information to aid stope design. The July update highlighted high-grade results which demonstrated better grades than expected and extensions to the resource and reserve models in the area between the Wallaby and Wombat zones known as the gap. The Kylylahti deposit comprises two zones, an upper zone termed Wallaby and a lower zone named Wombat. This area was ill-defined in surface drilling and has been subject to intensive drilling from underground in the past few months.
The focus of drilling has now moved to definition of the upper Wombat zone where spectacular results have been returned. The Wombat zone has been found to be thicker and contain a significantly higher grade zone than was anticipated in the resource model (generally 5-20 metres at 1.6-2.5% copper). Better intercepts include:
To view the entire press release please follow the link:
http://www.irw-press.com/dokumente/Altona_220813_EN.pdf
Drillhole intersections are reported using 0.4% copper cut-off and 2 metres minimum width.
The lower Wombat zone is now seen to host a thick high grade zone which is illustrated in the attached graphic of grade distribution.
In general when deposit definition drilling is undertaken from underground, pre-mining resource estimates are found to be conservative. Definition drilling usually results in increased grade and tonnes of high-grade massive sulphides at the expense of low-grade disseminated ore.
To view the entire press release please follow the link:
http://www.irw-press.com/dokumente/Altona_220813_EN.pdf
Figure 1: Screen snapshot of the Kylylahti resource model. North-South longitudinal projection (looking east) showing grade distribution in the Wombat zone and the location of the high grade zone at the upper part of the Wombat.
The drilling 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. It is also likely that much of these higher grade areas will fall into the mine plan for 2014-2015.
To view the entire press release please follow the link:
http://www.irw-press.com/dokumente/Altona_220813_EN.pdf
Figure 2: Screen snapshot of the Kylylahti Resource model. North-South longitudinal projection (looking east) showing grade distribution in the Wombat zone and the location of the new nickel zone.
Recent stope definition drilling has also revealed the potential for a nickel rich zone at the deposit. This mineralisation appears to be similar to Altona’s Hautalampi deposit which is located in the hangingwall of the large Keretti copper deposit.
To view the entire press release please follow the link:
http://www.irw-press.com/dokumente/Altona_220813_EN.pdf
Drillhole intersections are reported using 0.4% nickel cut-off and 2 metres minimum width.
AOH0518 4.
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 recently refurbished Luikonlahti mill. The annual production rate averages 8,000 tonnes of copper, 8,400 ounces of gold and 1,600 tonnes of zinc with a study to expand production up to 12,000 tonnes of copper underway. Regional resources include 9 million tonnes 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, a stable corporate tax regime (24.5%) 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. 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 engaged in discussions with potential partners to enable the funding of this major development.
Altona Mining 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 on the attached disclosure for sampling techniques and data.
AOH0518 5.
Appendix 1
Extract from JORC Table 1
The table below is a description of the sampling techniques and data handling used at the Kylylahti mine. It is an extract from Altona’s wider reporting in Table 1 of The Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code, 2012) and this portion relates to drilling and other sampling.
To view the entire press release please follow the link:
http://www.irw-press.com/dokumente/Altona_220813_EN.pdf
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