Join our daily newsletter At The Bell to receive exclusive market insights
- AIC Mines (A1M) intersects a high-grade copper-gold lens within its Eloise copper mine in north Queensland
- Lens 6 is situated 150 metres northeast of the current Deeps mining level and mineralisation remains open up and down dip, as well as along strike
- Managing Director Aaron Colleran says the discovery is a “great example” of how underexplored the Eloise mine is
- AIC Mines is advancing an underground drilling program which is over half-way complete
- Shares in A1M are up 2.04 per cent to trade at 50 cents at 2:08 pm AEST
AIC Mines (A1M) has announced that underground drilling intersected a high-grade copper-gold lens within its Eloise copper mine in north Queensland.
The company is undertaking a 14-hole drilling program in the Deeps area of the mine to test for a repetition of the mine sequence to the east.
The high-grade lens, labelled “Lens 6” lies roughly 150 metres northeast of the current Deeps mining level with mineralisation remaining open up and down dip, as well as along strike.
Highlighted results include 27.6 metres at 4.14 per cent copper, 10.2 metres at 3.44 per cent copper and 5.2 metres at 1.89 per cent copper and 1.23 grams per tonne (g/t) gold.
“The discovery of a new high-grade lens only 150 metres from underground development is another great example of how underexplored the Eloise mine actually is,” Managing Director Aaron Colleran said.
“AIC’s exploration strategy at Eloise has two objects – to delineate extensions to the known resource areas and to discover satellite deposits within the Eloise mining tenements.
“We expect to add significant value at Eloise through exploration.”
So far, AIC Mines has completed eight holes and drilling is ongoing.
Shares in A1M were up 2.04 per cent to trade at 50 cents at 2:08 pm AEST.
