Drill results back Aeon Metals’ campaign

Aeon Metals has made major advances in the development of the Walford Creek base metals project in Queensland’s gulf country. Aeon Metals MD Dr Fred Hess The announcement comes with the finalisation of the 2021 drilling results. Almost 97 percent of the mineral resource estimates for the Vardy and Marley deposits had been mapped said Managing Director Dr Fred Hess. Related: Next phase for Walford Creek battery metals project The results demonstrated the robust nature of the deposit with in-fill drilling providing an increase and upgrade to the existing resource base, Dr Hess said. “Now having a Mineral Resource with almost 97 per cent defined within the Measured and Indicated categories provides an outstanding foundation for the preparation of robust mine schedules and the development of the more detailed project PFS economic evaluation," he said. The exploration lease runs south of Burketown to north of Doomadgee. “The proposed 2022 drilling program delivers strong potential to yield further significant mineral resources updates towards year end. The almost six kilometres of strike length in the Le Mans and Amy sections, adjacent to the Fish River fault, already host a modest Inferred Mineral Resource estimate that is limited only by drilling. “In addition, the impending acquisition of high resolution airborne electro-magnetic data will complement the existing high resolution magnetic and gravity data set to further refine our targeting of the previously identified new areas for drill testing. “Our 2022 exploration program is designed to provide a defining step in the exceptional New Economy Minerals district emerging in North-West Queensland.” Aeon has applied for Coordinated Project status with the State Government and for Major Project status with the Commonwealth with respect to the Walford Creek project. It is also eyeing the potential to attract federal support via the $2 billion Critical Minerals Fund (managed by Export Finance Australia) to facilitate new project development. Aeon is targeting a mining rate of 3 Mtpa and will process the ore through bulk flotation followed by oxidative leaching to extract the key metals into solution. It will produce copper, cobalt, zinc and nickel. Aeon announced the completion of a Scoping Study on the Walford Creek Project in June last year, which highlighted the potential to develop a long life, major mining project focussed on producing a portfolio of battery metals headed by copper and cobalt. This study formed the basis for directing the 2021 field program at the Walford Creek Project, identifying the following components as critical next steps in advancing toward completion of a Pre-Feasibility Study.

Drill results back Aeon Metals’ campaign

Industry Queensland

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