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Australian Mines (ASX:AUZ) - Managing Director, Benjamin Bell
Managing Director, Benjamin Bell
Source: Master Investor
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  • Australian Mines (AUZ) intersects up to 3.9 grams of gold per tonne (g/t) from rock chips at its Flemington Project in NSW
  • In addition to the gold, the geological team noted the presence of minor weathered sulphides
  • This gold was intersected in a distinct chargeability anomaly that was identified earlier in the month
  • A reverse circulation drill program has been designed to test this anomaly with work expected to begin within four weeks
  • Australian Mines is up 4.55 per cent with shares trading at 2.3 cents at 11:45 am AEST

Australian Mines (AUZ) has intersected up to 3.9 grams of gold per tonne (g/t) from rock chips at its Flemington Project.

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

In addition to the gold, the geological team noted the presence of minor weathered sulphides.

The geological team also identified potassium feldspar alteration which is consistent with Newcrest Mining’s (NCM) Cadia copper-gold deposit.

The grade of 3.9g/t was intersected in a distinct chargeability anomaly identified earlier in the month.

This anomaly was identified via an induced polarisation survey that was undertaken to highlight the potential mineralisation at Flemington.

It is believed to extend from near surface to depth and may represent potential sulphide mineralisation.

Australian Mines has designed a reverse circulation drill program over this anomaly and work is expected to begin within four weeks.

Further details regarding the drilling program will be released shortly.

Australian Mines was up 4.55 per cent with shares trading at 2.3 cents at 11:45 am AEST.

AUZ by the numbers
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