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Australian Mines (ASX:AUZ) - Managing Director, Benjamin Bell - The Market Herald
Managing Director, Benjamin Bell
Source: EVTalk
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  • Australian Mines (AUZ) has identified a distinct chargeability anomaly in the northeast area at its Flemington Project in NSW
  • The anomaly was identified via a recent induced polarisation (IP) survey that was undertaken to highlight potential mineralisation at the project
  • Modelling of the anomaly suggests that it extends from near surface to depth and may represent potential sulphide mineralisation
  • Australian Mines has now begun a field exploration program of the anomaly with the intention of undertaking reverse circulation drilling in the next month
  • Shares in Australian Mines are up 5.56 per cent on the market this morning and are trading at 1.9 cents

Australian Mines (AUZ) has identified a distinct chargeability anomaly in the northeast area at its Flemington Project in NSW.

Flemington lies roughly 370 kilometres west of Sydney in one of the most advanced cobalt-scandium-nickel projects in the state.

The anomaly was identified via a recent induced polarisation (IP) survey that was undertaken to highlight potential mineralisation at the project.

Modelling of the anomaly suggests that it extends from near surface to depth and may represent potential sulphide mineralisation.

A 2020 review of Flemington highlighted that besides the cobalt-scandium-nickel potential, the project also hosts a number of monzodiorite intrusive complexes.

This is similar to the geological setting of a number of the nearby copper-gold mines.

Australian Mines has now begun a field exploration program of the anomaly with the intention of undertaking reverse circulation drilling in the next month.

Further details regarding the drilling will be announced in due course.

Shares in Australian Mines are up 5.56 per cent on the market this morning and are trading at 1.9 cents at 10:26 am AEST.

AUZ by the numbers
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