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Australian Mines Ltd.
Summary
| Project: | Flemington | |
|---|---|---|
| Deposit: | Flemington | |
| Location: | Australia | |
| Commodities: | Scandium-Cobalt | |
| Date: | 8/11/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 11-8-2017: Australian Mines Ltd. announces an Exploration/Drilling Update report for its Flemington deposit at the Flemington project. Drilling results incl. 19m @ 0.17% Co from 7m. Australian Mines Limited (“Australian Mines” or “the Company”) is pleased | |
| Resources: | (Resource, Total): 3.1Mt @ 434g/t Sc at project | |
| CP/QP: | [Overall Report]: Maz Rangott (Rangott Mineral Exploration Pty Ltd.) | |
| ABSTRACT: | Australian Mines Limited (“Australian Mines” or “the Company”) is pleased to announce that it has received the assay results1 from its 239-hole resource extension drilling program at the Flemington Cobalt-Scandium-Nickel Project, located within 400 kilometres of Sydney, Australia. In addition to demonstrating consistent cobalt grades approaching 1%2 over individual metres across the deposit, the resource extension drill program also identified instances of outcropping cobalt and scandium mineralisation at Flemington, with outstanding shallow cobalt intersections. These results have successfully doubled the previous footprint of the project’s cobalt mineralisation and have confirmed beyond doubt that the Flemington and Syerston mineralisation are part of the same ore body, which is divided by a single tenement boundary4 . Australian Mines’ recently completed resource extension drill program also effectively trebled the footprint of the known scandium mineralisation, as well as confirming high-grade scandium outcrops across the Flemington project area. Commenting on the resource extension drill program, Managing Director Benjamin Bell said, “We are extremely pleased by the tenor of cobalt results returned from this drilling, which includes some outstanding shallow, high-grade intersections with mineralisation often averaging more than 0.2% cobalt and approaching 1% over individual metres in places. “These results have confirmed our confidence in the Flemington project delivering a robust cobalt resource in the near-term as well as re-affirming that this project does indeed host a true world-class deposit. “The recent Flemington drilling also confirms the relationship between Australian Mines’ Flemington mineralisation and the neighbouring Syerston project. It is clear that Flemington and Syerston are two halves of the same deposit and that the only material difference between the Flemington and Syerston deposit is where you draw the tenement boundary. | |
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