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Aeris Resources (ASX:AIS) - Executive Chairman, Andre Labuschagne - The Market Herald
Executive Chairman, Andre Labuschagne
Source: Industry Queensland
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  • Aeris Resources (AIS) has received drill result from the Constellation deposit which is part of its Tritton Copper Operation in New South Wales
  • Results are from the third hole of a six-hole program which returned copper, gold and silver grading up to 2.37 per cent, 0.66g/t and 4.9g/t, respectively
  • The third hole was drilled to test an electromagnetic sulphide plate 80 metres down-dip from the first hole
  • After the positive results, Aeris applied to drill 25 more holes at Constellation — with the request now approved
  • Aeris is up 5 per cent and shares are trading at 10.5 cents

Aeris Resources (AIS) has received assay results from drilling at the Constellation deposit which is part of its Tritton Copper Operation in New South Wales.

Late last year, Aeris was approved to drill six holes at the deposit to gain a better understanding of its potential.

Results received today are for the third drill hole which aimed to test an electromagnetic (EM) sulphide plate 80 metres down-dip from the first hole.

Assay results include 27.1 metres at 1.61 per cent copper, 0.43g/t gold, 3.4g/t silver from 233.9 metres including 6.3 metres at 2.3 per cent copper, 0.47g/t gold, 4.8g/t silver and 10.8 metres at 2.37 per cent copper, 0.66g/t gold, 4.9g/t silver from 250.2 metres.

Aeris finds these results highly encouraging as they build on those received from the first hole which returned 19.95 metres at 2.41 per cent copper, 0.64g/t gold and 4.6g/t silver from 197.2 metres.

"Deposits within the Tritton tenement package are generally characterised by significant down dip continuity. Intersecting more high-grade copper in TAKD003, which is approximately 80 metres down dip from TAKD001, is very encouraging," Executive Chairman Andre Labuschagne said.

After a break during the Christmas and New Year period, drilling has recommenced at the deposit.

Meanwhile, following the positive results, Aeris submitted two applications to drill 25 more holes — which have now been approved.

The extended program will allow Aeris to develop a broader exploration program to better define the boundaries of the Constellation deposit.

"With three EM plates that remain open and approval received for a further 25 drill holes, the next phase drill program will be aiming to better define the boundaries of the Constellation deposit," Andre concluded.

Aeris is up 5 per cent and shares are trading at 10.5 cents at 12:51 pm AEDT.

AIS by the numbers
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