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    AIS   AU000000AIS8

AERIS RESOURCES LIMITED

(AIS)
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AERIS RESOURCES : CONSTELLATION UPDATE

08/03/2021 | 11:04am EDT

Established Australian copper-gold producer and explorer, Aeris Resources Limited (ASX: AIS) (Aeris or the Company) is pleased to provide an update on exploration activities at the Constellation deposit, located within the Company's 100% owned Tritton tenement package in New South Wales.

Aeris' Executive Chairman, Andre Labuschagne, said 'These latest results from the combined RC / Diamond tails drilling continues to build our understanding of the near surface mineralisation.

The supergene mineralisation, in particular, is showing very high copper grades. The relative proximity of this mineralisation to the surface means it can be accessed early on in any future development of the Constellation deposit.' 'Also pleasing are the latest assays from the diamond drilling program, targeting deeper areas of the deposit. What is particularly encouraging is that recent drilling has extended the strike length of sulphide mineralisation out to 300m.' 'With the diamond tails now complete we have recommenced RC drilling to test potential strike extensions of the near surface mineralisation, which is still open to the south.'

Near surface RC, Diamond Tails and Diamond drilling - Technical Discussion

The initial RC drill program, totalling 52 holes, targeted mineralisation over a 200m (north-south) x 200m (east-west) footprint to a maximum depth of 130m below surface. During the program,18 RC drill holes intersected water in or near mineralisation and had to be abandoned. After completion of the RC drill program each abandoned RC hole has been extended via a diamond drilling, referred to as a diamond tail.

Diamond Drill Program - Technical Discussion

A further 14 diamond drill holes have been completed at the Constellation deposit. 7 of the drill holes tested strike extensions to the mineralised system further south from previous drilling. Copper sulphides were intersected in six drill holes, extending mineralisation a further 100m along strike, to 300m in total. Several drill holes intersected thin

Contact:

Mr. Andre Labuschagne

Tel: +61 7 3034 6200

Web: www.aerisresources.com.au

About Aeris

Aeris Resources Limited (ASX: AIS) is a diversified mining and exploration company headquartered in Brisbane. The Company has a growing portfolio of copper and gold operations, development projects and exploration prospects. Aeris has a clear vision to become a mid-tier mining company with a focus on gold and base metals, delivering shareholder value. Aeris' Board and management team bring decades of corporate and technical expertise in a lean corporate structure. Its leadership has a shared, and highly disciplined focus on operational excellence, and an enduring commitment to building strong partnerships with the Company's workforces and key stakeholders. Aeris is forecasting to produce between 21,000 and 22,000 tonnes of copper from its Tritton Copper Operation in New South Wales, and between 67,000 and 71,000 ounces of gold from its Cracow Gold Operation in Queensland.

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2022 451 M 334 M 334 M
Net income 2022 96,7 M 71,8 M 71,8 M
Net cash 2022 61,0 M 45,3 M 45,3 M
P/E ratio 2022 4,09x
Yield 2022 -
Capitalization 401 M 298 M 298 M
EV / Sales 2022 0,76x
EV / Sales 2023 0,44x
Nbr of Employees 1 091
Free-Float 70,7%
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Number of Analysts 1
Last Close Price 0,18 AUD
Average target price 0,23 AUD
Spread / Average Target 27,8%
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Managers and Directors
Willie AndrÚ Labuschagne Executive Chairman, Chief Executive Officer & MD
Robert Brainsbury Chief Financial Officer & Joint Secretary
Ian Sheppard Chief Operating Officer
W. Edward Alastair Morrison Independent Non-Executive Director
Michele Muscillo Independent Non-Executive Director
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