Tag: Sconi

BY ELIZABETH FABRI   ASX-listed Australian Mines has identified large-scale cobalt-in-soil anomalies at its Thackaringa project near Broken Hill, NSW.   Recent surface geochemical sampling at Target Area A uncovered three zones of elevated levels of cobalt that are reportedly similar to the Pyrite Hill and Big Hill prospects at Cobalt Blue’s identically named Thackaringa project. Australian Mines said with the anomalous zones partially buried by a shallow alluvial cover, surface expressions of cobalt mineralisation greater than 15ppm (grams per tonne) were considered significant. “This technique, for example, has been successfully used by Alloy Resources on its Ophara CobaltGold project directly to the west of the Australian Mines’ Thackaringa Project, as well as being the documented geochemical signature of the...

Australian Mines’ Sconi cobalt project.  Image: Supplied. BY CAMERON DRUMMOND AUSTRALIAN mines has tapped investors for $20 million in a heavily-oversubscribed capital raising for its Sconi cobalt-nickel-scandium play in Northern QLD. The funds will be used to continue trial mining and undertake a bankable feasibility study, due to be completed in April 2018. The budding cobalt miner is also constructing a demonstration-size processing plant capable of producing commercial-grade samples of cobalt sulphate, nickel sulphate and scandium oxide. These samples will be used to progress negotiations with potential off-take partners and financiers, the company stated. In March, a Sconi pre-feasibility study (PFS) reported a mineral resource of 514,000 tonnes (t) of nickel, 54,500t of cobalt and 1950t of scandium, making it...