Australian copper-gold producer and explorer, Aeris Resources Limited (ASX: AIS) has obtained resource definition drilling programme results underway at the Avoca Tank Project, located at the company’s wholly owned Tritton Operations in NSW.
“This latest drilling confirms the high-grade nature of the Avoca Tank deposit and its importance as a new ore source for the Tritton Operations,” Aeris’ Executive Chairman, Andre Labuschagne, said.
“The addition of a high-grade gold lens is an interesting discovery that will be followed up with further drilling.
“The Avoca Tank deposit remains open down plunge, with mineralization intersected last year 75m below the current Mineral Resource envelope.”
Diamond Drilling
An underground diamond drill programme recently commenced at the Avoca Tank Project. The programme is focused on de-risking the initial 80m high production block, scheduled to commence production in the June quarter.
The first drillhole, ATEL001, intersected two massive sulphide high-grade copper lenses including:
• 10.7m @ 5.48% Cu, 0.30g/t Au and 9.7g/t Ag (10.72)
• 2.6m @ 2.94% Cu, 1.66g/t Au and 68g/t Ag (2.62)
Both massive sulphide lenses correlate with existing modelled sulphide bodies which form part of the current Avoca Tank Mineral Resource. The thick, high-grade copper mineralization, exceeding 5% Cu, supports the Company’s view that Avoca Tank will become a high-grade copper producer.
The drillhole also intersected a high-grade gold lens in the footwall to the copper sulphides lenses, reporting:
• 6.0m @0.36% Cu, 2.78g/t Au and 31g/t Ag (6.02)
The Avoca Tank deposit averages a higher-grade gold content in comparison to all other known deposits within the Tritton tenement package. Further drilling will assist with understanding the extent of the high-grade gold mineralization intersected in drillhole ATEL001.
A further three drillholes have been completed as part of the underground drill program and these holes are currently being logged. Two of the three holes intersected the modelled ore horizon. The third hole deviated more than planned and missed the ore horizon.
Moving Forward
Underground diamond drilling is continuing, with a second drill rig scheduled to commence in the coming weeks. Both drill rigs will focus on the initial 80m vertical portion of the Mineral Resource targeted for production.
A feature consistent with all known deposits within the Tritton tenement package is long down-plunge extents. In a drilling programme undertaken during 2022, exploration drillhole TAKD0464 intersected high-grade copper below the current Mineral Resource footprint. This provides further opportunities to increase the Mineral Resource.
For further information please visit: https://www.aerisresources.com.au/
