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Aeris Resources Ltd

Aeris Resources completes first hole at Lake Torrens

The drill hole was targeting a coincident magnetic and gravity anomaly.

project site
Official assays remain pending

Aeris Resources Ltd (ASX:AIS) has completed the first drill hole, TD7, from its phase I drilling program at Lake Torrens within its 70% owned Torrens Exploration Project in South Australia.

Preliminary geology observations of TD7 include a 60-metre wide intersection with hematite, potassium feldspar, and sericite altered non-magnetic interval.

Notably, hematite is recognised as an accessory mineral associated with iron oxide copper gold mineralisation within the Gawler Craton.

READ: Aeris Resources spins drill at possible sleeping giant porphyry system

Aeris’ executive chairman Andre Labuschagne said: “Whilst it is early days and logging and assays are still pending, we are very encouraged with what we have seen from this first hole.

“It is also pleasing that we have safely completed this first hole using the unique drill rig configuration.”

The Torrens Project (EL5614), is a joint venture with Kelaray Pty Ltd, a wholly owned subsidiary of Argonaut Resources NL (ASX:ARE), who owns the other 30%.

Quick facts: Aeris Resources Ltd

Price: $0.06

Market: ASX
Market Cap: $27.8 m
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