Market Herald logo


Be the first with the news that moves the market
  • Final assay results returned from the Flemington Project returned additional high-grade cobalt and scandium intersections
  • Individual metres grading as high at 1.63 per cent cobalt
  • Encouraging results support large-scale follow-up drilling program which is scheduled to begin on October 2019
  • Update of a mineral resource is scheduled for early 2020

Australian Mines has received final assay results from the first phase of resource expansion drilling at its Flemington Project in NSW.

The results that were returned confirmed that a significant, continuous high-grade cobalt and scandium mineralisation extends west for over 1200-metres and is contiguous with the currently established mineral resource.

Best intersections include 15 metres at 0.20 per cent cobalt from a 3 metre depth, and 14 metres at 0.12 per cent cobalt from 11 metres.

However, individual meters have graded as high as 1.63 per cent cobalt.

Australian Mines is planning to conduct more than 12,000 metres of drilling – which will be the largest exploration program ever undertaken at Flemington.

This high-grade cobalt-scandium mineralised footprint, which has been outlined in this current drill program, represents a tripling of the area when compared to Flemington.

Additionally, the geological host rock for Flemington continues to trend further west and this is where the focus will be for the next exploration drilling effort.

Managing Director of Australian Mines Benjamin Bell is pleased with the results returned.

“Once again, our Flemington Project in eastern Australia delivers on its promise to become a future source of cobalt for the fast-growing electric vehicle market,” he said.

“Consequently, I am even more optimistic about the project’s potential to be a major future source for the battery materials market given that only a fraction of the prospective geology has been comprehensively evaluated.”

These results come after limited drilling results from July suggested the existence of two separate zones of high-grade cobalt and scandium mineralisation.

However, these final results, confirm that mineralisation is continuous across the extent of the drilling footprint and is not confined to separate high-grade zones.

Given the highly encouraging results a large-scale follow-up infill and expansion drilling campaign are being planned later in the calendar year.

“As a result, we are now planning an additional large-scale extensional exploration drilling program from October and we anticipate being in a position to update the mineral resource estimate for Flemington early next calendar year,” Benjamin added.

AUZ by the numbers
More From The Market Herald
The Market Herald Video

" Pilbara Minerals (ASX:PLS) set to increase production at Pilgangoora

Pilbara Minerals (ASX:PLS) is set to increase spodumene production at its Pilgangoora operation to 680,000 dry…
The Market Herald Video

" Tietto Minerals (ASX:TIE) returns further high grade results from Abujar

Tietto Minerals (ASX:TIE) has returned further high-grade gold intercepts from its Abujar Gold Project in Côte d’Ivoire, West Africa.

" Bryah Resources (ASX:BYH) completes drilling at Bryah Basin

Bryah Resources (ASX:BYH) completes drilling at its Bryah Basin manganese project in Western Australia.
The Market Herald Video

" Hammer Metals (ASX:HMX) finds high-grade copper at Ajax East

Hammer Metals (ASX:HMX) has released some new results from drilling and geophysical survey work at its…