- Copper and gold explorer Aeris Resources (AIS) completes phase two reverse circulation (RC) drilling program at the Constellation deposit
- Assay results have now been received for the first eight holes, which have traced copper mineralisation to the south
- Results include seven metres at 3.59 per cent copper, 0.93 grams of gold per tonne (g/t) and 7.7g/t silver
- Aeris is now undertaking a diamond drilling program
- Just before the market opens for the day, Aeris was sitting at 18.5 cents per share
Aeris Resources (AIS) has completed its phase two reverse circulation (RC) drilling program at the Constellation deposit, within its Tritton tenement package in NSW.
The initial RC drill program totalled 52 holes over the deposit, however during the program 18 drill holes intersected water in or near mineralisation and had to be abandoned.
After completing the RC drill program each abandoned hole has been extended through diamond drilling, referred to as a diamond tail.
Assay results have now been received for a further two drill holes extended by diamond tails. Results include 18.4 metres at 9.40 per cent of copper, 0.87 grams of gold per tonne (g/t) and 4.4g/t of silver from 53 metres.
Aeris then conducted a follow-up RC drilling program. This phase two plan totalled 58 RC holes, focusing on extending the oxide and supergene mineralisation.
Assay results have now been received for the first eight holes, which have traced copper mineralisation to the south.
Results include seven metres at 3.59 per cent copper, 0.93g/t gold and 7.7g/t silver, and five metres at 4.60 per cent copper, 1.38g/t gold and 5.4g/t silver.
The copper and gold explorer is now undertaking a diamond drilling program, with a further 11 drill holes completed within the deeper primary sulphide mineralised system.
Executive Chairman Andre Labuschagne said the latest results continued to show that Constellation was a high grade copper deposit.
“In the 10 months since the discovery hole at Constellation we have completed more than 150 RC and diamond drill holes. The results from this drilling are compelling, with the mineralised extents and copper grade both significantly greater than initial expectations, and supporting our view that Constellation is a significant deposit,” Mr Labuschagne said.
“The resource in-fill drilling campaign is now underway and as a sign of our
confidence in the Constellation deposit (and) we are fast tracking the development pathway by commencing various options studies in parallel.”
Just before the market opened for the day, Aeris was sitting at 18.5 cents per share