- AIC Mines (A1M) has applied for two exploration licences which cover a combined area of 4280 square kilometres in western NSW
- The licences are prospective for base and precious metals and have been dubbed the Delamerian project to reflect their location within the Delamerian Orogen
- Managing Director Aaron Colleran says the project is a “valuable addition” as AIC Mines expands its exploration portfolio
- AIC will now compile and interpret data to gain a better understanding of the project’s potential
- Company shares ended the day up 3.02 per cent at 61 cents each
AIC Mines (A1M) has applied for two exploration licences in western New South Wales that are prospective for base and precious metals.
The ELA6413 exploration licence covers an area of 1936 square kilometres at the northern end of the Koonenberry Belt and 60 kilometres east of Tibooburra.
The ELA6414 tenement covers a 2344-square-kilometre area in the Loch Lilly-Kars Belt and is located 55 kilometres southeast of Broken Hill.
Together, the exploration licences have been named the Delamerian project which reflects how they’re both situated within the Delamerian Orogen in NSW.
The Delamerian Orogen represents a largely under-explored cratonic margin setting which is similar to other prospective provinces in Australia, such as the Paterson Orogen and Albany-Fraser Orogen.
Managing Director Aaron Colleran said the Delemarian project is a “valuable addition”.
“It is an early-mover opportunity where government investment into unlocking exploration potential is underway. This will allow AIC to leverage off new regional datasets and mineral system knowledge,” he said.
“We continue to look for new high-quality copper and gold exploration projects,
from greenfields through to advanced stage, with the aim of building a balanced project pipeline.”
AIC Mines will focus on compiling and interpreting geophysical and exploration data from the tenements. This data will then be integrated with mineral potential data being collected by the Geological Survey of South Australia as part of a long-term geoscience program. This program is broadly aimed at stimulating mineral exploration and unlocking the Delamerian Orogen’s resource potential.
Company shares were up 3.02 per cent to trade at 61 cents at market close.