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Extensional drilling at Sconi Project continues to unlock growth potential for nickel and cobalt resources

Australian Mines Limited has released further positive results from the Company’s Resource extension drilling program at its Sconi Cobalt-NickelScandium Project.

Australian Mines’ Sconi project, located near the township of Greenvale (approximately 225 kilometres inland from Townsville in Northern Australia), is one of the most advanced projects of its type in Australia and represents far more than just an emerging cobalt + nickel + scandium mining project.

It is planned the Sconi Project will become a fully-integrated chemical processing operation capable of delivering battery-grade cobalt sulphate and nickel sulphate to our off-take partner, Korean-based SK Innovation, for direct application at their global electric vehicle battery manufacturing plants without the need for Australian Mines’ cobalt and nickel products to undergo any further processing[3]. As such, the Sconi Project is being designed to capture the full “valueadd” of the Project on site[4].

[1] Three separate, neighbouring deposits form Australian Mines’ 100-owned Sconi Cobalt-Nickel-Scandium Project; Namely, Greenvale, Lucknow and Kokomo.
[2] Australian Mines Limited, Drilling extends nickel-cobalt resource potential at Sconi Project, released 14 September 2018
[3] As reaffirmed by SK Innovation President Kim Lee publicly earlier year
[4] Full details of this are expected to be outlined in the Project’s Bankable Feasibility Study (BFS) that is due to be released to the market imminently. The Company is still in the final stages of delivering the BFS for the Sconi Project. The draft BFS is currently incomplete, pending independent validation of BFS inputs.

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