- AIC Mines (A1M) is beginning a 5000-metre drilling program at its Marymia Project in Western Australia
- Drilling is mainly focusing on the Middle Island and Copper Hill prospects where it’s testing orogenic gold and copper-gold mineralisation
- The company is also conducting 1000 metres of drilling at the DeGrussa North prospect which is located within the Curara Well joint venture
- A1M shares have been suspended from trade since August 25, which is when it announced it will acquire a copper mine
- Company shares last traded at 24.5 cents on August 24
AIC Mines (A1M) has begun reverse circulation drilling at its Marymia project in Western Australia.
The Marymia Project covers over 3600 square kilometres of strike extensions and segments of the Plutonic-Marymia greenstone belt which has produced more than six million ounces of gold.
The program will include up to 5000 metres and will primarily target the Middle Island prospect for orogenic gold and the Copper Hill prospect for copper-gold mineralisation.
AIM plans to drill up to 15 holes, for 2000 metres, across three targets within the Middle Island prospect.
At Copper Hills, the miner plans to drill 10 holes, for up to 2000 metres, on one-kilometre-space lines along the seven-kilometre trend of copper oxide mineralisation.
Drilling in this area will test a soil anomaly and provide a better understanding of the nature of the copper mineralisation.
Lastly, AIC Mines will conduct 1000 metres of drilling at the DeGrussa North prospect. This prospect is located within the Curara Well joint venture between AIC’s subsidiary and Venus Metals (VMC).
AIM’s shares have been suspended since August 25, which is just before it announced it will acquire a copper mine.
The company is looking to receive shareholder approval for the buy as well as conditional approval from the ASX to readmit its securities to official quotation.
Shares last traded at 24.5 cents on August 24.