- Aeris Resources (AIS) continues to return high-grade copper and gold assays at its Constellation tenement, located within the company’s Tritton tenement package in NSW
- The company is currently undertaking a resource definition drilling program at the tenement and has now received results from a further ten holes
- Results continue to demonstrate that the near surface section of the deposit contains high-grade copper and gold mineralisation
- Aeris is expecting the updated mineral resource for Constellation to be completed in the June quarter
- On the market this morning, Aeris is up 7.69 per cent and trading at 14 cents per share
Drilling at Aeris Resources’ (AIS) Constellation tenement continues to return high-grade copper and gold assays.
Constellation is located within the company’s Tritton tenement package in New South Wales, around 45 kilometres northwest of the Tritton Processing Plant.
Aeris has received results from a further ten diamond drill holes from the resources definition drill program. All drill holes targeted the primary sulphide mineralised domain, both within and beneath the current reported mineral resource.
Included in the drill holes were four diamond “scissor” drill holes, which all intersected massive sulphides with visible chalcopyrite.
Results included 22.84 metres at 5.42 per cent copper, 1.79 grams per tonne (g/t) gold and 10.4g/t silver and 19.36 metres at 2.45 per cent copper, 1.19g/t gold and 5.2g/t silver.
“The latest assay results from the drilling within the current mineral resource continues to demonstrate that the near surface section of the deposit contains exceptionally high-grade copper and gold mineralisation,” Executive Chairman Andre Labuschagne said.
“This provides the potential for significant early cashflows from open-pit mining.”
Drilling was also undertaken south outside the mineral resource, with results showing “good copper and gold grades”.
Results from the southern area include 5.21 metres at 7.45 per cent copper, 3.19g/t gold, 59.4g/t silver.
“Constellation continues to deliver above expectations and is shaping up to be a future base load ore source for the Tritton Processing Plant as we target extending the Tritton Copper Operations beyond the end of the decade.” Mr Labuschagne said.
The resource definition drill program at Constellation is nearly completed. One drill rig will remain onsite to complete the resource definition program, in addition to water bore and metallurgical drill holes.
Aeris is expecting the updated mineral resource for Constellation to be completed in the June quarter.
On the market this morning, Aeris was up 7.69 per cent and is trading at 14 cents per share at 11:30 am AEDT.