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LONDON, UNITED KINGDOM--(Marketwired - Oct. 25, 2016) - FinnAust Mining Plc's (AIM:FAM)(FRANKFURT:S5WA) SP Angel Indicates Potential 114% Increase, target price of 15 p from current price of 6.99 p. Consolidating a dominant position in Greenland's emerging minerals sector, London-based FinnAust Mining demonstrates a commitment to progress and fast-track towards production of titanium rich, ilmenite mineral sands at Pituffik mineral sands project on the east coast of Greenland. According to experts, Greenland titanium mineral sands grades may rank among world's highest. A recent SRK report indicates there is 'up to' 95% HM sands with more than 70% absolute weight of ilmenite. Some areas are shown to run at 95% ilmenite and a new discovery that has potential to be a large occurrence of material grades >75% ilmenite. Setting the tone to a path toward development, FinnAust has assembled a world-class mining team; the appointment of consultants and specialists covers a wide range of disciplines, from geology and exploration, through to permitting and metallurgy. Royal IHC, the Dutch dredging company, is supporting work on the dredging of shallow and near shore marine mineral sands. GEOLOGICAL SURVEY OF DENMARK AND GREENLAND "GEUS" has been appointed to design and asset with exploration and logistical support since 2015. Demand for ilmenite concentrates should continue to rise as cost and pollution causes China to cut titanium production from titano-magnetite iron ores. FinnAust is firmly focused on progressing Pituffik through to production. Pituffik represents a potential source of globally traded primary ilmenite requiring a small implementation footprint allowing for rapid development. Photogrammetry and an updated ultra-detailed high resolution 3D geological model completed in May 2016, have for the first-time, demonstrated the potential scale and dimensions of the Pituffik titanium project in Greenland. Acquiring potentially large Cu, Ni & PGE exploration projects in Greenland, with the acquisition of Avannaa Exploration, FinnAust strategies to build up the asset base during the current market cycles (or at least while valuations remain subdued). SP Angel values the project at an IRR of 43% and a $144m NPV on an 8% discount rate. This give us an NPV per share of 19 pence. Assumptions: Ilmenite production 332,500tpa. Ilmenite price $130/t less a 10% discount reducing the price to $117/t. Shipping $40/t (>$10/t to Canada). Mining and processing $15/t. Capital cost $60m, though preliminary estimates are significantly lower. Royalty rate 2.5%. Corporate tax 30% starting in year 4. Climate: The project is located in the high Arctic limiting mining to between 3-5 months per year. The project will be subject to campaign mining through the summer. The ground is subject to permafrost with the top meter or so thawing through the summer months hence the preference for dredge mining. Location: Greenland should offer relatively simple extraction site with no community to move and relatively few environmental issues. Work continues with the support from Greenland government agencies. Its near-shore, shallow-marine location on the West coast of Greenland means temperatures fall to a relatively mild -29C for the Arctic through January and February. Ilmenite mineral sands should not freeze below sea ice. You can also view the latest "Research Notes" on our website at:

PubMed | GEUS, University of Aarhus, University of Tromsø, University of Iceland and Dendrookologen
Type: Journal Article | Journal: Biology letters | Year: 2016

Sea ice has been suggested to be an important factor for dispersal of vascular plants in the Arctic. To assess its role for postglacial colonization in the North Atlantic region, we compiled data on the first Late Glacial to Holocene occurrence of vascular plant species in East Greenland, Iceland, the Faroe Islands and Svalbard. For each record, we reconstructed likely past dispersal events using data on species distributions and genetics. We compared these data to sea-ice reconstructions to evaluate the potential role of sea ice in these past colonization events and finally evaluated these results using a compilation of driftwood records as an independent source of evidence that sea ice can disperse biological material. Our results show that sea ice was, in general, more prevalent along the most likely dispersal routes at times of assumed first colonization than along other possible routes. Also, driftwood is frequently dispersed in regions that have sea ice today. Thus, sea ice may act as an important dispersal agent. Melting sea ice may hamper future dispersal of Arctic plants and thereby cause more genetic differentiation. It may also limit the northwards expansion of competing boreal species, and hence favour the persistence of Arctic species.

Thibault N.,Copenhagen University | Anderskouv K.,Copenhagen University | Bjerager M.,GEUS | Boldreel L.O.,Copenhagen University | And 3 more authors.
Lethaia | Year: 2015

The lithostratigraphy, calcareous nannofossil biostratigraphy, carbon- and oxygen-isotope stratigraphy and gamma-ray profile are presented for the Skælskør-1 core, eastern Denmark. The correlation of carbon isotopes to Gubbio (Italy) and ODP Site 762C (Indian Ocean) provides the chronostratigrahical framework of the core through a tie to magnetostratigraphy. Two new carbon-isotope excursions are defined for the uppermost Maastrichtian of the core and prove useful for long-distance correlation. Twenty stratigraphic tie-points are used for correlation of the upper Campanian-Maastrichtian interval by combining carbon-isotope and gamma-ray variations. Significant dissimilarities in the gamma-ray profiles of the Danish Basin cores preclude the sole use of this tool for basin-scale correlations. Bulk oxygen-isotopes and semi-quantitative abundance changes in the warm-water calcareous nannofossil Watznaueria barnesiae and the cool-water Kamptnerius magnificus highlight the following past changes in sea-surface temperatures (SSTs): relatively warm late Campanian SSTs, cooling across the Campanian-Maastrichtian boundary and through the early Maastrichtian, warming across the early-late Maastrichtian transition, cooling in the late Maastrichtian, intense warming in the latest Maastrichtian chron C29r, followed by a very short episode of cooling immediately before the Cretaceous-Palaeogene boundary. The late Campanian-Maastrichtian evolution in sea water temperatures inferred from the Danish Basin is similar to that delineated at tropical latitude oceanic sites. © 2015 The Lethaia Foundation.

Pauly S.,Ruhr University Bochum | Mutterlose J.,Ruhr University Bochum | Alsen P.,GEUS
Marine Micropaleontology | Year: 2012

Reconstructions of the palaeoclimate of the Early Cretaceous are controversial, varying from a warm-temperate greenhouse world to icehouse conditions. We studied calcareous nannofossil assemblages of sediments from North-East Greenland (Wollaston Forland and Kuhn Ø) of Late Ryazanian-Barremian age in order to better understand the palaeoclimate and palaeoceanography of the high latitudes. The calcareous nannofossil assemblages are characterized by abundant Crucibiscutum spp. and Watznaueria spp., Biscutum constans and other Boreal taxa. They show also influxes of Tethyan and low to mid latitudinal taxa like nannoconids (e.g. Nannoconus bermudezii, Nannoconus dolomiticus, Nannoconus steinmannii), pentaliths (Micrantholithus hoschulzii, Micrantholithus obtusus), conuspheres, Speetonia colligata and Cruciellipsis cuvillieri in the Upper Ryazanian and Lower Hauterivian. Reconstructed surface water conditions, indicated by fluctuations in the assemblage compositions, suggest cool conditions for the Late Ryazanian, a cold climate for the Valanginian, and warm climatic conditions for the Hauterivian-Barremian. High meridonial temperature gradients and cool-cold climatic conditions in the high latitudes caused supposedly the formation of deep water in the South Anyui Gulf in the Late Ryazanian-Valanginian. Palaeoceanographic changes, reflected in a counter-balanced ocean current system in the Greenland-Norwegian Seaway, allowed Tethyan biota to spread as far north as North-East Greenland during the Late Ryazanian. © 2012 Elsevier B.V..

Pauly S.,Ruhr University Bochum | Mutterlose J.,Ruhr University Bochum | Alsen P.,GEUS
Cretaceous Research | Year: 2012

Calcareous nannofossils of Lower Cretaceous sediments from four sections of the Wollaston Forland and Kuhn Ø, North-East Greenland, have been examined. Sediments of Ryazanian-Hauterivian age were deposited in North-East Greenland following a major Late Jurassic-earliest Cretaceous rifting event. The upper Ryazanian-Hauterivian marine post-rift sediments consist of fossiliferous calcareous mudstones 27-40m thick, assigned to the Albrechts Bugt and Rødryggen members. These calcareous mudstones rest unconformably on dark Jurassic mudstones and are overlain by dark Barremian mudstones. The biodiversity of the calcareous nannofossil assemblages from North-East Greenland is lower than contemporaneous Tethyan assemblages of lower latitudes. Well-preserved assemblages consist of common Watznaueria spp., Crucibiscutum spp., Biscutum constans and other taxa. Integrated calcareous nannofossil and ammonite data form the basis of a biostratigraphic zonation scheme for the Boreal-Arctic Province of the Boreal Realm and this is correlated with existing Boreal zonation schemes. Important calcareous nannofossil marker species include Sollasites arcuatus, Crucibiscutum ryazanicum, Kokia borealis, Nannoconus oviformis, Triquetrorhabdulus shetlandensis, Micrantholithus speetonensis, Eiffellithus striatus, Tegumentum octiformis, Perissocyclus plethotretus, Tegulalithus septentrionalis, and Clepsilithus maculosus. This study shows that the existing calcareous nannofossil zonation schemes are applicable in the Boreal-Arctic Province. The occurrence of diverse and well-preserved calcareous nannofossil assemblages in North-East Greenland at a higher latitude than their typical known area of distribution marks a significant change in their biogeographic distribution pattern during the Early Cretaceous. © 2011 Elsevier Ltd.

Anell I.,Copenhagen University | Thybo H.,Copenhagen University | Rasmussen E.,GEUS
Basin Research | Year: 2012

The North Sea Basin contains an almost complete record of Cenozoic sedimentation, separated by clear regional unconformities. The changes in sediment characteristics, rate and source, and expression of the unconformities reflect the tectonic, eustatic and climatic changes that the North Sea and its margins have undergone. While the North Sea has been mapped locally, we present the first regional mapping of the Cenozoic sedimentary strata. Our study provides a new regional sub-division of the main seismic units in the North Sea together with maps of depocentres, influx direction and source areas. Our study provides a regional synthesis of sedimentation based on a comprehensive interpretation of a regionally covering reflection seismic data set. We relate observations of sediment characteristics and unconformities to the geological evolution. The timing, regional expression and stratigraphic characteristics of many unconformities indicate that they were generated by eustatic sea-level fall, often in conjunction with other processes. Early Cenozoic unconformities, however, relate to tectonism associated with the opening of the North Atlantic. From observation on a regional scale, we infer that the sediment influx into the North Sea during the Cenozoic is more complex than previously suggested clockwise rotation from early northwestern to late southern sources. The Shetland Platform supplied sediment continuously, although at varying rates, until the latest Cenozoic. Sedimentation around Norway changed from early Cenozoic influx from the southwestern margin, to almost exclusively from the southern margin in the Oligocene and from all of southern Norway in the latest Cenozoic. Thick Eocene deposits in the Central Graben are sourced mainly from a western and a likely southern source, indicating that prominent influx from the south did not only occur from the mid-Miocene onwards. We infer a new age for the increased progradational sediment influx in the Pleistocene of 2.5 Ma, coeval with Fennoscandian glaciation. © 2011 Blackwell Publishing Ltd, European Association of Geoscientists & Engineers and International Association of Sedimentologists.

Frykman P.,GEUS
74th European Association of Geoscientists and Engineers Conference and Exhibition 2012 Incorporating SPE EUROPEC 2012: Responsibly Securing Natural Resources | Year: 2012

The filling of a reservoir with CO2 is a dynamic process influenced by heterogeneities at a range of different scales. If parts of the reservoir are by-passed during this process it will result in lowered filling efficiency and therefore smaller capacity than if assuming homogeneity. This study attempts to illustrate that even small-scale heterogeneity has implications for how the CO2 is distributed and trapped in sedimentary sequences, and outlines a workflow for the study of these effects. In certain reservoirs the distribution of the injected CO2 into partly or fully separated layers might mean efficient use of the pore space in the reservoir. However, the mobility may also cause CO2 to bypass some of the pore space, depending on the heterogeneity and anisotropy of the permeability. After injection has stopped, the heterogeneity will influence the imbibition process when brine displaces the CO2, which might cause additional trapping beyond that prescribed by the endpoints for the saturation functions.

Rasmussen R.,GEUS
74th European Association of Geoscientists and Engineers Conference and Exhibition 2012 Incorporating SPE EUROPEC 2012: Responsibly Securing Natural Resources | Year: 2012

Different approaches in applying time lapse seismic monitoring for detecting CO2 propagation (and ultimately the frontal tip) have been investigated at a possible CO2 storage site characterised by an accumulation of individually thin layered reservoir subunits. Focus for the present case study is an investigation of accumulated frontal tip response from thin layered reservoir subunits compared to individual layer by layer response.

Zuta J.F.,GEUS | Kjoller C.,GEUS
74th European Association of Geoscientists and Engineers Conference and Exhibition 2012 Incorporating SPE EUROPEC 2012: Responsibly Securing Natural Resources | Year: 2012

CO2 flooding can improve oil recovery in chalk plugs with low matrix permeability. However, several coupled physical and chemical processes may occur. These phenomena can either increase and/or decrease the injectivity. A series of dynamic laboratory experiments have been used to investigate CO2-brine-rock interactions during CO2 injection in a reservoir chalk rock. The experiments were designed to represent the various situations in the field - near well-bore or far field regions. The experiments consisted in the injection of CO2-WAG at reservoir conditions and CO2 saturated water at supercritical CO2 conditions. The experiments were carried out in plugs with either Swi= 100% and/or Swi= 15%. A novel sampling technique was used to sample produced fluids under pressure without disrupting the injection process. Results based on chemical analyses of produced fluids lead to a comprehensive understanding of the coupled mechanisms taking place. Based on the measured Ca-concentration and alkalinity, the presence of oil was observed to slightly delay the calcite dissolution process. Wormholes evident of calcite dissolution were seen on the inlet sides of the plugs after the flooding process. Pre and post-floods petrophysical analyses of the plugs also showed some porosity and permeability increase as a result of flooding.

Rasmussen B.W.,Copenhagen University | Nielsen A.T.,Copenhagen University | Schovsbo N.H.,GEUS
Norsk Geologisk Tidsskrift | Year: 2015

The ‘Middle’ Cambrian–Tremadocian Alum Shale Formation is generally strongly tectonised in the Oslo area (southern Norway) and, as such, no complete succession through the Furongian exists in the area. The present paper presents a restored part of the Furongian interval through the Leptoplastus Superzone that has been measured and sampled at Slemmestad harbour. The limestone layers and nodule levels within the shale are preserved in the correct stratigraphic order with only limited repetition due to thrusting. Here the Leptoplastus Superzone is about 3.1 m thick. Within Scandinavia the superzone has previously been subdivided into the Leptoplastus paucisegmentatus, L. raphidophorus, L. crassicornis, L. ovatus, L. angustatus and L. stenotus zones, of which the L. paucisegmentatus Zone has not been recorded in the Oslo area. It may be truly absent or the interval may be devoid of fossiliferous limestone. It is alternatively possible that the index fossil is absent for ecological reasons. Variable first appearances of key taxa have somewhat confused the subdivision of the Leptoplastus Superzone. The order of appearance of L. ovatus, L. crassicornis and L. angustatus thus differs between Slemmestad and Andrarum in southern Sweden, and consequently the L. ovatus Zone is herein proposed abandoned as L. ovatus co-occurs with L. crassicornis. The L. angustatus Zone has also been proposed abandoned by recent authors. Based on detailed biostratigraphical data from Slemmestad and Andrarum, a combined L. crassicornis–L. angustatus Zone is defined; the lower boundary is characterised by the first appearance of L. crassicornis. The present study furthermore shows that Protopeltura holtedahli occurs in the Parabolina spinulosa Zone and that Protopeltura broeggeri is restricted to the upper part of the new Leptoplastus crassicornis–L. angustatus Zone. These Protopeltura species do not characterise separate zones or subzones as previously proposed. A lectotype of Ctenopyge neglecta var. bornholmensis Poulsen, 1923, now Leptoplastus bornholmensis, is designated and reillustrated.. © the authors.

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