Australian Mines Limited (ASX: AUZ) is currently drilling at an early stage cobalt project called the Thackaringa Project, located 22km southwest of Broken Hill.
The Thackaringa project area has previously identified areas of elevated cobalt (large-scale cobalt in soil anomalies). Targets A1 and A5 (see figure 6 of its last ASX Quarterly Activities report) in the northern section of the tenement have been classified as 'high priority targets'.
AUZ is currently undertaking a low-cost reverse circulation ('RC') maiden drill program designed to test the A1 and A5 targets, to determine if there is any base metal mineralisation at this location.
The results of this RC drill program should be available during September 2020.
These are only my thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.
