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Australian Mines Ltd.
Summary
| Project: | Sconi | |
|---|---|---|
| Deposit: | Sconi | |
| Location: | Australia | |
| Commodities: | Scandium-Cobalt-Nickel | |
| Date: | 9/14/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 14-9-2018: Australian Mines Ltd. announces an Exploration/Drilling Update report for its Sconi deposit at the Sconi project. Drilling results incl. 42m @ 1.01% Ni from 0.0m. Australian Mines Limited (“Australian Mines” or “the Company”) (Australia ASX: AU | |
| Resources: | (Resource, Total): 7.2Mt @ 177g/t Sc and 89Mt @ 0.58% Ni, 0.06% Co at project | |
| CP/QP: | [Overall Report]: Mick Elias (Internal) | |
| ABSTRACT: | Australian Mines Limited (“Australian Mines” or “the Company”) (Australia ASX: AUZ; USA OTCQB: AMSLF; Frankfurt Stock Exchange: MJH) is pleased to announce positive, nearsurface results from the Company’s Mineral Resource extension drilling program at the Sconi Cobalt-Nickel-Scandium Project in northern Queensland. Australian Mines has been progressing the program of up to 50,000 metres of drilling2 during the September quarter with the initial focus of this drilling targeting the historic Greenvale mine area. This program was completed on schedule and the drill rigs have now moved to the adjacent Lucknow Deposit. The plan is to also drill the Kokomo Deposit in the northern area of the Company’s Sconi tenements as part of the overall program. Australian Mines has received approximately 50% of the total assays from the drilling at the Greenvale mine site to date, with the widths and tenor of early results demonstrating the potential for the existing Mineral Resource3 at the Greenvale Deposit to be extended in multiple mineralised zones. Once all assay data has been received and validated, an updated Mineral Resource model will be constructed to include this new information. (See Figure 1) An example of intersections being returned from the Greenvale Deposit, which forms part of Australian Mines’ Sconi Project are set out in Table 1 below | |
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