Australian Mines Limited ('Australian Mines' or 'the Company') is pleased to announce a targeted 1,000m drilling program at its Flemington Project in NSW. This program will test a large, underexplored geophysical anomaly adjacent to one of the world's highest-grade scandium resources.
Highlights Targeted 1,000m program to test a large underexplored geophysical anomaly at the Flemington Project. The program is designed to assess the anomaly's potential to extend the current mineralisation and improve the geological understanding of the project area. Flemington already hosts one of the world's highest-grade JORC compliant scandium resources, creating a powerful synergy with AUZ's proprietary metal hydride development for hydrogen storage. Flemington lies adjacent to and within the same geological intrusive body as Sunrise Energy Metals' Syerston Scandium Project, which recently secured a Letter of Intent from the U.S. EXIM Bank1 , highlighting the strategic importance of scandium in the region.
Flemington Drilling Program
AUZ has finalised plans for a focused drilling campaign to test a large geophysical anomaly at the Flemington Scandium-Nickel-Cobalt Project in central New South Wales. This anomaly, defined through historical exploration and recent geophysical interpretation, has not been adequately tested by previous drilling and is considered prospective for scandium mineralisation. This drilling campaign represents an important step to gather valuable geological data on the anomaly and assess its potential to host extensions of the system that forms the existing scandium resource. Flemington currently hosts a JORC 2012 Mineral Resource of 6.3Mt @ 446ppm scandium (Sc) at a 300ppm cut-off2, within a broader 28Mt @ 217ppm Sc at a 100ppm cut-off2. These totals, comprising Measured, Indicated and Inferred resources, are extracted from the Company's previously released resource statement and position Flemington as one of the highest-grade scandium deposits globally
Strategic Synergy: Scandium and Metal Hydride Technology AUZ has achieved recent success with its proprietary scandium-doped metal hydride compositions3, which demonstrate strong potential for safe, efficient and low-cost hydrogen storage. This creates a unique opportunity to align a world-class scandium deposit with a breakthrough energy technology. The potential to establish a vertically integrated supply chain-from mine to metal hydride-represents a significant strategic advantage for AUZ and strengthens supply security for a mineral critical to the global energy transition. AUZ's CEO, Andrew Nesbitt commented 'Drilling this underexplored anomaly is a major step forward for Flemington. Success could expand one of the world's highest-grade scandium deposits in support of AUZ's proprietary metal hydride technology and strengthen supply security for this critical mineral.'
For more information, please contact: Andrew Nesbitt Chief Executive Officer Australian Mines Limited +61 8 9481 5811 investorrelations@australianmines.com.au
Forward-Looking Statements
This announcement contains forward-looking statements regarding planned exploration, studies, and development activities. These statements are based on current expectations and assumptions and are subject to risks and uncertainties which may cause actual results to differ materially. AUZ does not undertake to update or revise any forward-looking statements, except as required by law.
JORC Code Compliance Statement
The information in this announcement that relates to Mineral Resources for the Flemington Project is extracted from the ASX announcement dated 8 January 2025. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original announcement, and that all material assumptions and technical parameters underpinning the Mineral Resource estimates, including the categorisation into Measured, Indicated and Inferred, continue to apply and have not materially changed.
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