Aeris Resources Ltd (ASX:AIS) has unveiled a maiden mineral resource estimate (MRE) for the upper 200 metres of the Constellation deposit, within its 100%-owned Tritton tenement package in New South Wales, totalling 3.3 million tonnes at 1.4% copper, for 47,000 tonnes of copper metal.
The MRE includes:
➢ Indicated mineral resource for high-grade supergene mineralisation of 500,000 tonnes at 3.4% copper, for 18,000 tonnes of copper metal; and
➢ Indicated and inferred mineral resource for sulphide (primary) mineralisation of 1.4 million tonnes at 1.6% copper, for 23,000 tonnes of contained copper.
The optimisation of pit design is underway and an exploration target has been defined for primary mineralisation below the reported mineral resource.
Significant copper deposit
Aeris Resources executive chairman Andre Labuschagne said: “This maiden mineral resource and exploration target for the Constellation deposit confirms our long-held view that Constellation is a significant copper deposit and will play an important role in extending the life of our Tritton Copper Operation.
“To go from initial discovery to maiden mineral resource in just over 12 months is a fantastic outcome by our exploration team.
“What is also exciting is that Constellation remains open down-plunge."
Updated MRE
Labuschagne continued: “Resource definition drilling continues and we are targeting to deliver an updated mineral resource by the end of the March 2022 quarter.
“In parallel, the various option studies are progressing well, including metallurgical test-work.
“Preliminary indications from the metallurgical test-work appear positive and we are targeting to deliver detailed results by the end of January 2022.”
The intent of the updated mineral resource is to convert the exploration target to a mineral resource.
Exploration target
The exploration target is based off 63 diamond drill holes totalling 20,092 metres, of which 31 drill holes are awaiting assay results.
The remaining diamond drill holes with pending assays have been used to constrain the primary sulphide wireframe based on geological logging of copper sulphide intersections.
Based on visual observations, the copper sulphide intersections are similar to sulphide intervals with returned assays.