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- 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.
