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Finore Mining Inc. (FIN:CNX)
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Web site:
http://www.finoremining.com
Drill Program Underway
- A 10,000 meter drill program is underway to upgrade current resources and follow up on additional targets
Advanced–Stage Exploration with NI 43–101 Resource
- North central Finland — “LK (Läntinen Koillismaa) Project”
- Target: Palladium–Platinum–Gold (PGE+Gold)–Copper–Nickel
- Claim Area: 3,750 hectares
- 17,000 meters of drilling already completed, plus geophysical (IP) surveys, petrological & metallurgical studies and an NI 43–101 resource
- Existing Mineral Resource: Indicated Resource +80Koz PGE+Au and 7.5Ktonnes Cu+Ni ; Inferred Resource +586Koz PGE+Au and
~100Ktonnes Cu+Ni
Year–Round Exploration Season
Close to Infrastructure
Stable Mining Jurisdiction – Finland
Experienced Management Team
- Ian F. Laurent, MSc (Economic Geology), MAIG, RPGeo — CEO
Nearly twenty years’ experience in mineral exploration and resource development on four continents - Steven M. Green, PGeo — President
Spent twenty years exploring precious metals, from prospecting to managing million-dollar joint ventures for senior mining companies, such as Freeport McMoran and Noranda - Dr. Lawrence Dick, PhD, PGeo — Geological Advisor
Involved in four major discoveries, seventeen years as Director of Chevron
Minerals Ltd. in Latin America
Proximity to Producers and Active Projects
- Goldfields SA, Agnico Eagle, First Quantum, Nordic Resources, Altona
Resources, Dragon Mining
Share Structure
| As of Dec 31, 2011 | # of shares |
| Issued and Outstanding | 38,441,183 |
| Options | 2,500,000 |
| Warrants (strike prices $0.65 and $0.55) |
8,503,551 |
| Fully Diluted | 49,444,734 |
Project Overview
A mineral resource compliant to NI 43-101 was completed in December 2011 on the Kaukua and Haukiaho Deposits (see table below).
The Company has begun an aggressive drill program to upgrade the quality and quantity of the mineral resources (at Kaukua and Haukiaho) and will also undertake further exploration on its other targets. Metallurgical work will be continued to further investigate maximizing PGE, Ni and Cu recoveries.
The project is located in north-central Finland, 660 km north of the capital Helsinki, 65 km south of the Arctic Circle, and comprises a number of individual properties. These properties cover the Kaukua, Lipeävaara, Murtolampi and Haukiaho Zones, all of which are well-serviced by power, roads and water, allowing all-season access and drilling. Nortec Minerals Corporation completed over
10,000 meters of diamond core drilling on the Kaukua Zone from
2007-2010, and over 7,000 meters of historical diamond drilling has been completed on the Haukiaho Zone since the 1960’s. The properties have a combined surface area of over 3,750 hectares and cover a palla dium-platinum-gold-copper-nickel mineralized zone hosted within a sequence of mafic and ultramafic layered intrusions.
Based on the current drilling information, the Kaukua mineralization is open down-dip and along strike to the west and south. Information to date suggests that the properties have the potential to host several large-tonnage PGE+Au-Cu-Ni deposits amenable to low-cost open pit methods.
lK Project — Mineral Resources
|
Property
|
Classification
|
Tonnes
T x 1000 |
Pd
(ppm) |
Pt
(ppm) |
Au
(ppm) |
PGE+Au
(ppm) |
Cu
(%) |
Ni
(%) |
Co
(ppm) |
Pd
Ounces |
Pt
Ounces |
Au
Ounces |
PGE+Au
Ounces |
Cu
Tonnes |
Ni
Tonnes |
|
Kaukua
|
Indicated
|
2,605
|
0.67
|
0.22
|
0.07
|
0.96
|
0.17
|
0.12
|
65
|
56,112
|
18,425
|
5,862
|
80,399
|
4,429
|
3,126
|
Indicated Mineral Resource Estimate – Kaukua Deposits
|
Property
|
Classification
|
Tonnes
T x 1000 |
Pd
(ppm) |
Pt
(ppm) |
Au
(ppm) |
PGE+Au
(ppm) |
Cu
(%) |
Ni
(%) |
Co
(ppm) |
|
Kaukua
|
Inferred
|
8,486
|
0.76
|
0.27
|
0.08
|
1.11
|
0.16
|
0.11
|
55
|
|
Haukiaho
|
Inferred
|
19,579
|
0.26
|
0.09
|
0.10
|
0.45
|
0.24
|
0.15
|
61
|
Inferred Mineral Resource Estimate – Kaukua and Haukiaho Deposits
|
Property
|
Classification
|
Tonnes
T x 1000 |
Pd
Ounces |
Pt
Ounces |
Au
Ounces |
PGE+Au
Ounces |
Cu
Tonnes |
Ni
Tonnes |
|
Kaukua + Haukiaho
|
Inferred
|
28,065
|
370,998
|
130,311
|
84,770
|
586,080
|
60,567
|
38,703
|
Inferred Mineral Resources – Kaukua and Haukiaho Deposits (in ounces and tonnes)
This document contains forward-looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated. Factors that could cause such differences include: uncertainties inherent to geological interpretations, changes in world metal prices and equity markets, the cost and supply of materials and regulations affecting the mining industry, etc. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary and we cannot guarantee future results, levels of activity or the achievement of stated goals.
Data and technical information in this document is extracted from the NI 43-101 technical report entitled ‘A Technical Review of the Läntinen Koillismaa Project, Finland for Finore Mining Inc.’, written by Watts, Griffis and McOuat
Ltd., and dated January 5th, 2012.
Ian F. Laurent, MSc, MAIG, RPGeo is the Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical information in this document. Mr. Laurent is CEO and Director of Finore Mining
Inc. and is a professional geologist with over 19 years’ experience in the mineral exploration industry.
FIN:CNX
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