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Australian Mines Limited ( (AU:AUZ) ) has shared an announcement.
Australian Mines Limited has announced promising assay drilling results from its Jequie Rare Earth Element Project in Bahia, Brazil. The company completed an auger drilling program with significant intersections of total rare earth oxides (TREO) in saprolite and clay, indicating potential for further exploration. The findings suggest that the REE enrichment is likely due to Ionic Clay Adsorption, and the company plans to expand exploration in two target areas that show promising geological characteristics for REE deposits. These results could enhance the company’s position in the REE market and hold implications for stakeholders interested in the development and potential profitability of the project.
More about Australian Mines Limited
Australian Mines Limited operates in the mining industry, focusing on the exploration and development of rare earth elements (REE). The company is engaged in projects that aim to harness the potential of REE, which are crucial for various technological applications, within Brazil.
YTD Price Performance: 30.0%
Average Trading Volume: 25,955
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $9.66M
See more insights into AUZ stock on TipRanks’ Stock Analysis page.
