Aeris Resources Ltd (ASX:AIS) has discovered a new massive sulphide lens, prospective for base metals and potential gold at Bentley deposit within the Jaguar Operations in Western Australia.
The high-grade massive sulphide Bacalar lens was discovered in December 2022 via an underground exploration diamond drill program conducted at the deposit.
Eleven drill holes intersected massive sulphide mineralisation at Bacalar with another four intersecting copper stringer sulphides in the same horizon.
Assay results have returned five massive sulphide drill hole intersections, confirming the presence of high-grade copper and zinc mineralisation including:
- 15.8 metres at 3.70% copper, 6.06% zinc, 101 g/t silver and 1.61 g/t gold;
- 11.3 metres at 1.95% copper, 12.1% zinc, 63 g/t silver and 0.85 g/t gold;
- 7.6 metres at 1.97% copper, 5.90% zinc, 54 g/t silver and 0.82 g/t gold;
- 12.6 metres at 2.91% copper, 4.00% zinc, 67 g/t silver and 1.30 g/t gold; and
- 15.2 metres at 1.70% copper, 8.20% zinc, 58 g/t silver and 0.69 g/t gold.
The remaining six drill holes which intersected massive sulphides through the Bacalar lens are awaiting assay results.
Visually, the massive sulphide intersections awaiting assays are consistent with the five drill holes with returned assay results.
Upon receipt of the outstanding assay results for Bacalar, a resource estimate will be prepared, and opportunities will be explored to accelerate the incorporation of Bacalar into the mine plan.
Highly prospective
Aeris executive chairman Andre Labuschagne said: “When we acquired the Jaguar Operations last year, as part of the Round Oak Minerals acquisition, we had a firm view that the Bentley Mine and the broader Jaguar tenement package was highly prospective for further discoveries of base metals and also potentially gold.
“The discovery of Bacalar supports our view on the prospectivity at Jaguar and follows on from the other recent discoveries of the Turbo and Java Deeps lenses.”
Investors have welcomed the news with AIS shares as much as 10.68% higher intraday to $0.57.
Forward plan
An extensive deep exploration drill program is planned to further test the down plunge continuation of the Bentley system.
This will be conducted from a 200-metre extension to the pre-existing 3445 hanging wall diamond drill drive.
In addition to exploration drilling, there are also plans to install a fixed underground electromagnetic (EM) loop to significantly increase the ability to detect conductive sulphide lenses up to several hundred metres away from drill holes.
Development of both projects is due to start towards the end of the financial year.
Due to the proximity of Bacalar to the already established infrastructure at the Bentley Mine, opportunities will be explored to accelerate incorporation into the mine plan after a resource estimate has been prepared.