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Australian Mines Ltd.
Summary
| Project: | Sconi | |
|---|---|---|
| Deposit: | Sconi | |
| Location: | Australia | |
| Commodities: | Scandium-Cobalt-Nickel | |
| Date: | 2/14/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 14-2-2019: Australian Mines Ltd. announces a Resource Estimation report for its Sconi deposit at the Sconi project. Updated mineral resource estimate at the project. Advanced battery materials developer, Australian Mines Limited (“Australian Mines” or “th | |
| Resources: | (Resource, Total): 32.63Mt @ 0.69% Ni, 0.05% Co | |
| CP/QP: | [Resources]: David Williams (CSA Global Pty Ltd.) | |
| ABSTRACT: | Advanced battery materials developer, Australian Mines Limited (“Australian Mines” or “the Company”) (Australia ASX: AUZ; USA OTCQB: AMSLF; Frankfurt Stock Exchange: MJH) is pleased to announce an updated Mineral Resource estimate for the Company’s 100%-owned Sconi Cobalt-Nickel-Scandium Project in North Queensland, with the new Mineral Resource estimation anticipated to result in substantial flow-through benefits to the Project’s overall development economics. The results from the recent expansion drilling program have delineated consistent high grade nickel and cobalt zones across the Project area, with some assays from the program exceeding the tenor of results1 previously returned across the historic project, which have been the subject of evaluation for about half a century. The Greenvale nickel deposit’s in-situ material now stands at 24.40 million tonnes, up 63.2% from 14.95 million tonnes in the previous estimate; and the adjacent Lucknow deposit’s material now stands at 14.62 million tonnes, up 94.6% from 7.51 million tonnes previously. This re-estimation of the Sconi Mineral Resource was prepared by leading resource consultant group CSA Global, which completed a detailed review of previous and recent exploration data to estimate the new Mineral Resource, including Resource modelling information derived from the Company’s base-case Bankable Feasibility Study (BFS)2 | |
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