Total
0
Shares
Aeris Resources (ASX:AIS) - Executive Chairman, Andre Labuschagne - The Market Herald
Executive Chairman, Andre Labuschagne
Source: Industry Queensland
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Shares in Aeris Resources (AIS) are soaring today on the back of the latest round of assay results from drilling at its Tritton copper operation in NSW
  • The copper and gold explorer reported a high-grade copper hit from just eight metres below surface in one of the reverse circulation (RC) holes
  • So far, Aeris has received assays from 22 holes out of a 52-hole program, meaning 30 assays are still pending
  • Aeris says the copper intersections from the first round of assays are thicker than expected when compared with the visual estimates from RC chips
  • Shares in Aeris Resources are up 14.3 per cent and trading at 20 cents each at 11:20 am AEST

Shares in Aeris Resources (AIS) were up in early trade on the back of the latest round of assay results from drilling at the company's Tritton copper operation in NSW.

The gold and copper explorer has received assays from 22 holes out of 52 from a reverse circulation (RC) program currently underway at the Constellation deposit in the Tritton area.

These first assays returned some shallow hits including a 38-metre intersection at 3.72 per cent copper, 0.36 grams per tonne (g/t) of gold, and 3.1 g/t of silver from just eight metres below the surface.

Other results included a 47-metre hit at 3.9 per cent copper, 0.96 g/t of gold, and 5.6 g/t of silver from 11 metres; and a 38-metre hit at 2.91 per cent copper, 0.47 g/t of gold and 1.8 g/t from 44 metres.

Aeris Executive Chairman Andre Labuschagne said this first round of assay results exceeded the company's expectations.

"Intersecting high-grade copper mineralisation within 10 metres from surface is remarkable," Mr Labuschagne said.

"The footprint of this near-surface copper mineralisation is also larger than we expected and remains open along strike to the south."

Aeris said the copper intersections from the first round of assays are thicker than the company expected when compared to the visual estimates of copper minerals from RC chips.

The company is now waiting on the assay results for the remaining 30 holes from the 52-hole program, though Aeris said between 10 and 15 holes intersected water and were stopped.

Nevertheless, Aeris has started working to extend each hole via diamond drilling, with the RC program to continue on in the new holes once this process is completed.

Meanwhile, the company has had an application to drill another 19 holes in the project area approved by the New South Wales Resources Regulator, while two applications to drill an extra 40 holes have been submitted.

On top of its Tritton operation, Aeris also owns the Carcow gold operation in Queensland.

Shares in Aeris Resources were up 14.3 per cent, trading at 20 cents each at 11:20 am AEST.

AIS by the numbers
More From The Market Herald
Gold Mountain (ASX:GMN) - CEO, Tim Cameron (centre) - The Market Herald

" Gold Mountain (ASX:GMN) finds three more drill targets at Mt Wipi

Gold Mountain (GMN) has identified more prospective drill targets at the Mt Wipi Project in Papua New Guinea.
eMetals (ASX:EMT) intersects high-grade gold at Twin Hills

" eMetals (ASX:EMT) intersects high-grade gold at Twin Hills

eMetals (EMT) has received results from drilling at the Twin Hills Project in Western Australia.
Zuleika Gold (ASX:ZAG) completes drilling at Credo

" Zuleika Gold (ASX:ZAG) completes drilling at Credo

Zuleika Gold (ZAG) has completed its 27-hole reverse circulation (RC) drilling program at the Credo Project in Western Australia.
Silver Mines (ASX:SVL) hits 1826g/t silver at Bowdens

" Silver Mines (ASX:SVL) hits 1826g/t silver at Bowdens

Silver Mines (SVL) has intersected up to 1825 grams of silver per tonne (g/t) from the Bowdens Silver Project in New South Wales