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

" Macarthur Minerals (ASX:MIO) completes geotechnical drilling at Lake Giles

Macarthur Minerals (MIO) has completed the geotechnical drilling program at its Lake Giles Iron Project in Western Australia.
Ionic Rare Earths (ASX:IXR) - Chairman, Trevor Benson

" Ionic Rare Earths (ASX:IXR) expands Makuutu project with new exploration license

Ionic Rare Earths (IXR) is ramping up its presence in Uganda, having secured a new exploration license to the northwest of its Makuutu
SI6 Metals (ASX:SI6) - Executive Chairman, Patrick Holywell

" Si6 Metals (ASX:SI6) completes maiden drill program at Monument

Si6 Metals (SI6) has rounded off its maiden air core drilling program at the Monument Gold Project within the Laverton Gold District in
Latin Resources (ASX:LRS) - Managing Director, Chris Gale

" Latin Resources (ASX:LRS) returns high grade results from Salinas

Latin Resources (LRS) has returned high grade lithium from its Salinas Lithium Project in Brazil.