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Aeris Resources (ASX:AIS) - Executive Chairman, André Labuschagne
Executive Chairman, André Labuschagne
Source: 121 Mining Investment Events
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  • Aeris Resources (AIS) has received assays from two holes drilled at the Constellation deposit, part of its Tritton tenement package in NSW
  • 11 holes have been drilled so far to test a moving loop electromagnetic (MLTEM) plate at the deposit
  • Assays returned grades of up to 15.8 per cent copper, 2.49g/t gold and 28.6g/t silver
  • Aeris has also conducted survey work which has shown that conductive mineralisation may extend down plunge below the deepest drill intersection
  • Another 20 holes are yet to be drilled, however, Aeris has received approval for a 60-hole drilling program to test the shallow mineralised system
  • Company shares are up 4.76 per cent and are trading at 11 cents

Aeris Resources (AIS) has received assays from two holes drilled at the Constellation deposit, part of its Tritton tenement package in NSW.

So far, 11 holes have been drilled to test a moving loop electromagnetic (MLTEM) plate. Of the 11 holes, 10 have targeted the larger primary sulphide MLTEM plate. The remaining hole intersected a shallower supergene copper system about 300 metres to the west.

Latest results from TAKD005 include 2.6 metres at 6.1 per cent copper, 0.99g/t gold and 11g/t silver from 246 metres, including one metre at 10.3 per cent copper, 1.9g/t gold, 19g/t silver from 248 metres.

Results from TAKD006 include 5.85 metres at 4.6 per cent copper, 0.96g/t gold, 8.4g/t silver from 200.1 metres, including 1.05 metres at 15.8 per cent copper, 2.49g/t gold and 28.6g/t silver from 201.7 metres.

The latest round of drilling at Constellation, including further high-grade copper assays from TAKD005 and TAKD006, continues to show that this is a very exciting discovery. Encouragingly, the mineralisation remains open down plunge and along strike,” Executive Chairman Andre Labuschagne said.

Alongside the diamond drilling program, Aeris has conducted a downhole electromagnetic survey over most of the holes that have been drilled. The survey has interpreted that the conductive mineralisation extends down plunge below the deepest drill intersection to date.

Another 20 holes are yet to be drilled as part of this program. However, Aeris has received approval for a 60-hole reverse circulation program. Drilling is aimed at delineating the shallow mineralised system intersected in a previous hole.

Company shares are up 4.76 per cent and are trading at 11 cents at 11:47 am AEDT.

AIS by the numbers
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