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Aeris Resources Ltd

Aeris Resources intersects copper of up to 6.51% at target near Tritton mine

The high-grade copper mineralisation at Kurrajong has been traced more than 1,100 metres down plunge.

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The company is targeting larger deposits around its Tritton Copper Operations

Aeris Resources Ltd (ASX:AIS) has received high-grade copper results of up to 6.51% from drilling of the Kurrajong prospect near its Tritton Copper Operations in Central West NSW.

Assays have been received from a further five drill holes and three wedge holes with more high-grade copper, along with gold and silver, intersected.

Best results are 3.35 metres at 6.51% copper, 0.62 g/t gold and 17 g/t silver from 753.35 metres, 4.5 metres at 5.16% copper, 0.48 g/t gold and 16 g/t silver from 340.4 metres and 6.4 metres at 4.55% copper, 0.27 g/t gold and 11 g/t silver from 401.6 metres.

The deepest hole to date at Kurrajong intersected a broad zone of pyrite and chalcopyrite mineralisation, returning 17.0 metres at 2.59% copper from 923 metres.

This is around 300 metres down plunge from previous drill hole data.

The copper mineralised system has now been traced more than 1,100 metres down plunge and remains open in this direction and along strike to the north.

Results exceed expectations

Since the resumption of drilling activities in April 2018 the results have exceeded expectations.

The program has continued to intersect high-grade copper massive sulphide over a significant area and although drill coverage at the Kurrajong prospect is sparse, an emerging story is occurring.

 

 

Development of exploration target model

The drilling program is now complete and work is focused on the building of a geological interpretation and predictive model.

This includes development of an exploration target model delineating tonnage and copper grade ranges.

Future drilling will occur over the course of several months subsequent to this, ensuring drill holes target the most prospective areas within the large sulphide system.

READ: Aeris Resources prepares to drill within the week at Torrens

Yesterday the miner announced it was preparing to start drilling at its 70%-owned Torrens Exploration Project in South Australia this week.

Key infrastructure and equipment has been mobilised to the site, with the heli-portable drill rig and supplementary equipment having arrived last week.

 

 

Olympic Dam-style target

Last year the company noted the stage 1 drilling program would include 8-10 holes targeting depths of 700-1,500 metres.

Located in the Stuart Shelf region of South Australia, the project is 50 kilometres from OZ Minerals Limited’s (ASX:OZL) Carrapateena deposit and 75 kilometres from BHP Group Ltd’s (ASX:BHP) Olympic Dam.

The Torrens Anomaly is a large regionally significant coincident magnetic and gravity anomaly footprint in excess 120 square kilometres, which is greater than Olympic Dam.

- Jessica Cummins

Quick facts: Aeris Resources Ltd

Price: $0.06

Market: ASX
Market Cap: $29.17 m
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