FinnAust Mining Finland Oy has operated in the exploration industry since 2010 and has during that time studied the bedrock and ore potential of selected targets in eastern and central Finland, where the company has had and have reservations and exploration permit areas. Various geological research has been conducted in the target areas including for example deep diamond drilling, ground and airborne geophysical surveys, and geological mapping.
The exploration permit areas have been relinquished as soon as possible if the exploration efforts have not given reasons for additional research activities. For example, by the end of the year 2021, the total number of drillholes drilled by FinnAust Mining Finland Oy was 330 with a combined depth of approximately 81 300 metres. One third of these drill holes are within permit areas that have been relinquished. Additional information about the exploration methods and the environmental impact of exploration can be found on the “Exploration” page.
Currently the main research areas are in eastern Finland, in the old mining localities of Enonkoski, Hammaslahti and Outokumpu. In these areas, the company is targeting high quality nickel-copper and cobalt targets. The company is committed to not carry out any exploration activities in protected areas, national parks, or world heritage locations. In addition to this, buildings, cottages, and beaches of large water bodies are left outside the permit areas.
In Enonkoski FinnAust Mining Finland Oy is exploring for high-class nickel-copper-cobalt sulphide mineralisation hosted by the mafic and ultramafic intrusive rocks of the area. The company commenced research in the area in 2012, but the Enonkoski belt has been known for its ore potential already since the 1970s when nickel and copper bearing rocks were discovered in the area. While studying the origin of these rocks, two mineralisations were found; Hälvälä in 1971 and Laukunkangas in 1980. The mining started first at Laukunkangas in 1985, and three years later at Hälvälä. During the ten years in operation the mines in Enonkoski produced 7,3 tonnes of ore. The grades of the Laukunkangas ore were 0,78% Ni and 0,22% Cu and in Hälvälä 0,83% Ni and 0,23% Cu. In addition to nickel and copper, cobalt was also refined in Enonkoski. According to different estimations, approximately 1,1 million tonnes of ore was left unmined when the Hälvälä mine was closed in 1992 and Laukunkangas mine in 1994.
FinnAust Mining Finland Oy has been exploring on the Enonkoski Belt since 2012. During that time the company has carried out several fieldwork projects including, but not limited to, airborne helicopter and drone geophysical surveys, ground and down-hole geophysical surveys, deep and surface diamond drilling and geological mapping and outcrop sampling of the area. Most of the activities to date have focused on near-mine targets in the vicinity of Laukunkangas, but early-stage exploration work has also been conducted at several regional targets on the belt.
Since the end of 2020, the activities in Enonkoski advanced as a joint venture that ceased in July 2023 and FinnAust Mining Finland Oy retained full ownership of the project.
Mineral exploration work takes a long time and the Enonkoski project is considered an early phase exploration project as no new remarkable sulphide mineralisations have been discovered. The project areas of Enonkoski are situated in Southern Savo, close to the closed nickel-copper-cobalt mines of Laukunkangas and Hälvälä. The Laukunkangas mining lease is not included in the exploration permit areas of FinnAust Mining Finland Oy.
FinnAust Mining Finland Oy has explored potential copper-zinc-silver-gold-mineralisations in Hammaslahti since year 2012. Most of the exploration to date has been conducted in the direct vicinity of the no longer active Hammaslahti copper mine. The Geological Survey of Finland (GTK) discovered the Hammaslahti copper-zinc-silver-gold mineralisation in 1966, after which mining started in 1973. From the Hammaslahti mine 7 million tonnes of copper ore with a grade of 1,16% Cu was mined. Besides copper, also zinc, gold, and silver were extracted from the ore. The mine ceased operations and closed in 1986.
Since 2012, FinnAust Mining Finland Oy has conducted deep drilling projects in Hammaslahti in years 2012-2015, 2017-2018, 2020 and 2023. The majority of the drillholes are close to the old mine, but some regional targets have been drilled on the geological belt that runs from Hammaslahti to Tohmajärvi. Additionally, the area has been studied with the help of different geophysical surveys and bedrock mapping.
The Hammaslahti project is the company’s most advanced project. The deep drilling conducted by the company within the old mining area has proven that the main historic ore lode continues at depth, with the best interception being 15m @ 3,05% copper, 0,13% zinc, 14,39 ppm silver and 0,77 g/t gold, including 3,4m @ 11,51% copper, 0,44% zinc, 53,43 ppm silver and 3 g/t gold.
Additionally, the company has discovered a new copper-zinc-silver-gold mineralisation in the area close to the old decline. The extension of this so-called E-lode is still unknown since the exploration work is still in progress. So far, the best interception from this mineralisation contains an 8,65m interval with 2,15% copper, 1,97% zinc, 47,46 ppm silver and 0,5 g/t gold, including 4,7m @ 3,65% copper, 3,17% zinc, 81,13ppm silver and 0,88 g/t gold.
The project areas of Hammaslahti in North Karelia are located in the vicinity of the old Hammaslahti mine and on the south side of it. The company additionally has project areas in the Tohmajärvi area.
FinnAust Mining Finland Oy has been exploring on the Outokumpu Belt since 2012. The Outokumpu Belt, known for its copper, hosts several mineralisations and old mines that were active for several decades. The world famous Keretti mine in Outokumpu operated for 80 years and was finally closed in 1989. According to unofficial estimations, 44 million tonnes of ore has been verified from the Outokumpu geological belt, with average grades at 3,1% copper, 1,1% zinc, 0,2% cobalt and 0,1% nickel. Additionally, there are notable grades of gold and silver.
FinnAust Mining Finland Oy’s exploration efforts have focused mainly on the southwestern part of the so-called Outokumpu geological belt, where the copper-cobalt-zinc-gold-silver mineralisation potential has been studied with the help of deep drilling and geophysical surveys. Some exploration activities have also been conducted in the central part of the Outokumpu Belt and in the northeastern part of the belt in Polvijärvi. FinnAust Mining Finland Oy commenced exploration in the Outokumpu area in 2012, after which several deep drilling projects have been conducted in the area.
As new sulphide mineralisations are yet to be discovered, the Outokumpu project can be seen as an early phase exploration project.
The project areas of Outokumpu in Northern Karelia are located along the 50km long Outokumpu geological belt.
