September 22, 2023
Aeris Resources Ltd. (ASX:AIS, Not Rated, Taylor Combaluzier) announced exploration updates for its 100%-owned Constellation deposit, located at its Tritton Cu operations in New South Wales. A drill program at the deposit, which commenced in Q1/FY24, has been targeting mineralization outside the Aug/22 mineral resource estimate (MRE), which estimated I&I resources of 6.7Mt at grades of 1.8% Cu, 0.6 g/t Au and 2.9 g/t Ag. Three out of the four holes completed so far have intersected visible copper sulphides 80m along-strike and 200m down-plunge from the MRE. Assays have been received for two holes with highlights of: 1) 3.81% Cu, 1.12 g/t Au and 10.3 g/t Ag over 25.95m (TAKD095), and 2) 2.23% Cu, 1.14 g/t Au, 3.15 g/t Ag over 5.85m (TAKD094). We note that these grades compare favourably with the average grade estimate by the MRE and in-line with the higher grades at Avoca Tank and Budgerygar, which is helping to boost metal production at Tritton (read note). Of the other two holes, one is considered a near-miss and the other has intersected a 5m thick zone of massive to semi-massive banded sulphides. The program is expected to continue into Q2/FY24, with an initial focus on in-fill drilling to convert mineralization into inferred mineral resources. This, along with the higher grade, should help expand the deposit and potentially provide Tritton operations with another high-grade source to secure long-term production. Read more
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Aeris Resources Ltd. – ASX:AIS
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