- Aeris Resources (AIS) releases a maiden mineral resource estimate (MRE) for the Constellation Deposit in NSW
- The maiden MRE totals 3.3 million tonnes at 1.4 per cent copper and 0.3g/t gold for 47,000 tonnes of copper metal and 36,000 ounces of gold
- Aeris also released an exploration target of six million tonnes to eight million tonnes at a copper grade between 1.7 per cent to 2.2 per cent
- Drilling is continuing with Aeris aiming to release an updated mineral resource by the end of the March 2022 quarter
- Shares in Aeris are up 3.23 per cent on the market and are trading at 16 cents
Aeris Resources (AIS) has released a maiden mineral resource estimate (MRE) for the Constellation Deposit.
Constellation is part of Aeris’ Tritton tenement package, which lies near the town of Nyngan in central New South Wales.
The maiden MRE for the upper 200 metres of Constellation totals 3.3 million tonnes at 1.4 per cent copper and 0.3 grams per tonne (g/t) gold, representing 47,000 tonnes of copper metal and 36,000 ounces of gold.
The mineral resource is based on a resource definition drill program of 144 holes and includes oxide, supergene and primary copper mineralisation.
Aeris also released an exploration target of six million tonnes to eight million tonnes at a copper grade between 1.7 per cent to 2.2 per cent.
The exploration target represents the down-plunge continuation of the mineral resource beginning at 200 metres below surface and extending to 750 metres.
It is based off data from 63 diamond drill holes of which assays are pending for 32 holes.
“This maiden mineral resource and exploration target for the Constellation deposit confirms our long-held view that Constellation is a significant copper deposit and will play an important role in extending the life of our Tritton Copper Operation,” Executive Chairman Andre Labuschagne said.
“To go from initial discovery to maiden mineral resource in just over 12 months is a fantastic outcome by our exploration team. What is also exciting is that Constellation remains open down-plunge.”
Drilling is continuing with Aeris aiming to release an updated mineral resource by the end of the March 2022 quarter.
Shares in Aeris were up 3.23 per cent on the market and were trading at 16 cents at 11:43 am AEDT.