Australian Mines reports identification of drill ready Target Zones

Australian Mines Limited (ASX:AUZ) has announced the identification of three drill ready Target Zones with elevated tin within the previously identified tin, tantalum, and lithium prospective drainage basins at the Resende Project located in Minas Gerais, Brazil.

CEO Andrew Nesbitt's remarks on the discovery

AUZ's CEO, Andrew Nesbitt, expressed satisfaction with the systematic and cost-effective exploration approach, stating, 'We are pleased that our systematic and cost-effective exploration approach has identified drill ready target zones within a very large tenement package.'

Summary of Australian Mines' Resende Project announcement

The Resende Project in Brazil has revealed the identification of three drill ready Target Zones with elevated tin within the previously identified tin, tantalum, and lithium prospective drainage basins. The soil sampling programme resulted in the discovery of three drill ready Target Zones with maximum values representing enrichments of approximately 60x, 70x, and 30x the average values of tin, along with path-finder elements Indium and Bismuth. The identification of historical alluvial tin mining in drainages downstream from the Target Zones highlights the potential to identify pegmatite-greisen related mineralization systems. The company's continued exploration aims to identify Rare Earth Elements (REE) in adjacent drainage basins, with results expected by the end of September. CEO Andrew Nesbitt's positive remarks reflect the company's satisfaction with the exploration approach. The Resende Lithium Project and Jequie Rare Earth Project in Brazil also present significant opportunities for Australian Mines, subject to transfer and exploration activities.