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- Australian Mines (AUZ) spikes on the ASX after identifying some key exploration targets at its Lennard Project in Western Australia
- The targets were outlined by an artificial intelligence-based study taken on with the help of publicly available Landsat, magnetic, and radiometric data
- AUZ is now planning an airborne electromagnetic survey alongside some geological mapping and surface geochemical sampling programs at Lennard
- The Lennard Project lies alongside Chalice Mining’s (CHN) Hawkstone Project and Independence Group’s (IGO) West Kimberley joint venture
- Shares in Australian Mines are up 9.09 per cent and trading at 2.4 cents each at 10:06 am AEST
Australian Mines (AUZ) has had a strong start to the trading week after identifying some key exploration targets at its Lennard Project in Western Australia.
The battery materials explorer told investors this morning the targets are prospective for nickel sulphide mineralisation.
Australian Mines said it has completed the native title process for the Lennard Project, which lies in WA’s Kimberley region, and the project is now awaiting tenement grant by the WA government.
Meanwhile, AUZ said it has completed a commissioned artificial intelligence (AI)-based study over the project area which was taken on with the help of publicly available Landsat, magnetic, and radiometric data.
This study, according to Australian Mines, found some areas with higher mineral prospectivity to be prioritised in the next phase of exploration in the project area.
Looking ahead, the company said the next stage of exploration at Lennard will include an airborne electromagnetic survey alongside some geological mapping and surface geochemical sampling programs. Any anomalies found from this survey work will be outlined for future drill testing.
The Lennard Project lies alongside Chalice Mining’s (CHN) Hawkstone Project and Independence Group’s (IGO) West Kimberley joint venture. Australian Mines said both of these adjoining projects target intrusive nickel sulphide mineralisation.
As for Lennard, the project’s geological setting its similar to IGO’s Nova nickel-cobalt-copper operation in WA’s Fraser Range region.
While AUZ is planning its future exploration work for the Lennard Project, the company’s flagship operation is its Sconi Cobalt-Nickel-Scandium project in Queensland.
Shares in Australian Mines were up 9.09 per cent and trading at 2.4 cents each at 10:06 am AEST. The company has a $104.6 million market cap.
