Company
ASX:AIS
Aeris Resources is a mid-tier base and precious metals producer. The company's copper dominant portfolio comprises two operating assets, a mine on care and maintenance, a long-life development project and a highly prospective exploration portfolio.
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“The mineralisation intersected down plunge from the Murrawombie deposit has the potential to significantly extend the life of the Murrawombie underground,” said executive chair Andre Labuschagne.
"These latest results, which combined assays, observed copper-sulphides and downhole geophysics, are encouraging and support our interpretation that the copper mineralisation has potential to extend well beyond the current outline of the 20
“Compared to the Aeris of FY22 we now have a better-balanced business with a larger production base spread across four attractive commodities from four operating centres," said executive chairman Andre Labuschagne.
The additional drilling completed since the December 2021 mineral resource and updated geological interpretation have led to a material increase in the total reportable mineral resource figures.
Multiple sulphide lenses remain open down plunge and along strike and have the potential to extend the mineral resource at Bentley deposit.
“Our confidence in the prospectivity of Golden Plateau continues to grow, including the potential to discover new lodes," executive chairman Andre Labuschagne said.
"Despite a challenging operating environment, including COVID impacts, a tight labour market and inflation-related price increases, there were numerous significant achievements for Aeris in FY22,” said chairman Andre Labuschagne.
A new 5,000-metre reverse circulation drilling program is underway with visual copper mineralisation intersected in the first two drill holes testing new lode positions.
“Today’s strong support from our shareholders is a resounding endorsement of not only the Round Oak acquisition but also our clear strategy to grow Aeris into a mid-tier miner with long-life assets,” said chairman Andre Labuschagne.
The company will issue 247.4 million new shares at $0.105 each under the retail entitlement offer, to raise approximately $25.6 million.
The Canbelego JV Project has strong potential to add to Aeris’ copper bounty in the mineral-rich Cobar Basin of western NSW.
Retail investors also have the opportunity to participate in a fully underwritten raise at the same offer price and offer ratio as under the institutional entitlement offer.
"The Round Oak asset portfolio is an excellent fit with Aeris’ stated strategy to acquire advanced copper, base metals and gold assets in Australia that are strongly cash flow generative with attractive exploration upside," says chair Andre
“High-grade intersections have been recorded across a majority of the Golden Plateau mineralised system and we are targeting a maiden mineral resource in Q1 FY23," says executive chair Andre Labuschagne.
“We believe Kurrajong has the potential to be another high-grade copper mine to feed our Tritton processing facility,” says chairman Andre Labuschagne.
“With higher grade ore sources coming online, including Budgerygar and Avoca Tank, copper production is targeted to increase to over 30,000 tonnes per annum in FY25,” says executive chair.
“We are highly encouraged by the assays returned from the recent shallow RC drill program testing the new lode positions identified west of the Canbelego Main Lode, where we have previously reported wide high-grade copper hits.”, says explo
Copper mineralisation at the Avoca Tank deposit has now been traced 75 metres down plunge from the current resource base (total down plunge length 420 metres).
“Over the next 18 months we are committing significant funds to mine life extension and exploration projects at both Tritton and Cracow as we secure the long-term future of Aeris,” executive chairman Andre Labuschagne said.
“Constellation continues to deliver above expectations and is shaping up to be a future baseload ore source for the Tritton Processing Plant as we target extending the Tritton Copper Operations beyond the end of the decade,” says MD.
