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Australian Mines to Drill-Test Flemington Anomaly for Scandium Expansion

Story Highlights
  • Australian Mines plans a 1,000-meter drilling program at Flemington to explore a geophysical anomaly.
  • The initiative aims to expand scandium resources, aligning with metal hydride technology for energy transition.
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Australian Mines to Drill-Test Flemington Anomaly for Scandium Expansion

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Australian Mines ( (AU:AUZ) ) has shared an update.

Australian Mines Limited has announced a targeted 1,000-meter drilling program at its Flemington Project in New South Wales to explore a significant geophysical anomaly. This initiative aims to potentially expand the existing high-grade scandium resource, which is strategically important due to its proximity to Sunrise Energy Metals’ Syerston Scandium Project. The drilling program is part of Australian Mines’ broader strategy to leverage its scandium resources with its proprietary metal hydride technology, which could enhance supply security for critical minerals essential to the energy transition.

More about Australian Mines

Australian Mines Limited operates in the mining industry, focusing on the exploration and development of scandium, nickel, and cobalt resources. The company is known for its high-grade scandium deposits and is involved in developing metal hydride technology for hydrogen storage, highlighting its commitment to the global energy transition.

Average Trading Volume: 44,364,174

Technical Sentiment Signal: Hold

Current Market Cap: A$39.83M

See more insights into AUZ stock on TipRanks’ Stock Analysis page.

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