- Advanced battery materials company Australian Mines (AUZ) has begun a drill program at its Thackaringa Project in NSW
- The aim of this program is to follow-up on a high priority anomaly discovered in 2017
- This drill is expected to take three weeks and results will be announced once the program is completed
- Australian Mines is steady on the market and shares are currently trading for 0.8 cents each
Advanced battery materials company Australian Mines (AUZ) has begun a drill program at its Thackaringa Project in NSW.
Thackaringa is located in the Broken Hill region of NSW, and an airborne versatile time-domain electromagnetic (VTEM) survey, completed in 2017, uncovered nine anomalies.
The aim of this survey was to outline potential base metal mineralisation at depth.
Two of these anomalies were then classified as high priority by two separate companies, with both stating that they represent areas of potential mineralisation and permit further drilling.
This recent drill program will test one of these anomalies and determine the extent of mineralisation.
Australian Mines expects this program will take three weeks and results will be announced once completed.
“It is too early to speculate on what type of conductive source may be causing the high priority anomalies at Thackaringa,” Managing Director Benjamin Bell said.
“It is, however, important to continue with our drilling and exploration activity at this project, which is relatively low-cost, as we look to unlock further value for our shareholders,” he added.
Australian Mines is steady on the market and shares are trading for 0.8 cents each at 11:44 am AEST.