Australian Mines Limited's strategic project update

Australian Mines (ASX:AUZ) has announced progress on its Flemington Scandium Project, one of the world's highest-grade scandium deposits. The company is reviewing its Scandium Scoping Study, incorporating approximately 500 drill holes from 2019-2020. A JORC 2012 Mineral Resource update is planned for year-end.

Strategic progress and future outlook

Australian Mines (ASX:AUZ) is strategically progressing its Flemington Scandium Project. The company plans to update the JORC 2012 Mineral Resource to potentially expand its resource base by year-end. The project is strategically located near other significant scandium projects, enhancing its geographic advantage for production. AUZ is preparing for further drilling campaigns and sees potential in scandium's applications in the hydrogen economy. The scandium market is experiencing growth, with demand projected to continue rising. Australian Mines aims to leverage these market dynamics for future development.

Executive commentary on project advancements

The review includes 500 drill holes not previously included in the historical resource, potentially increasing the Mineral Resource significantly.