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    AIS   AU000000AIS8

AERIS RESOURCES LIMITED

(AIS)
  Report
End-of-day quote. End-of-day quote Australian Stock Exchange - 11/29
0.15 AUD   -3.23%
11/24Aeris Resources to Seek M&A
CI
11/22Aeris undertakes a$ gold hedging for cracow
AQ
11/12Application for quotation of securities - AIS
PU
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AERIS RESOURCES : TRITTON ADDS NEW EXPLORATION TENEMENT TO PORTFOLIO

10/21/2021 | 07:34am EST

Established Australian copper-gold producer and explorer, Aeris Resources Limited (ASX: AIS) (Aeris or the Company) is pleased to advise that the Company has been granted a new exploration tenement (EL 9285) adjacent to its 100% owned Tritton Copper Operations in New South Wales.

Aeris' Executive Chairman, Andre Labuschagne, said 'We will continue to look for opportunities to add prospective exploration ground around our Tritton Copper Operations. The proximity of EL 9285 to the Constellation deposit and the Exley prospect made applying for this ground common sense. We will commence first pass exploration activities on this EL during the current financial year.'

Discussion

A new exploration tenement, Exploration Licence (EL) 9285, has been granted adjacent to the Company's 100% owned Tritton tenement package. EL 9285 is 140km2 and is located northwest from the recent Constellation discovery. Ground within EL 9285 has not been subject to modern exploration techniques and is considered prospective for copper mineralisation. The Tritton tenement package now totals 2,330km2 of the highly prospective Girilambone Basin. The acquisition of this additional exploration tenement is consistent with the Company's philosophy of exploring in 'new space', via the use of new technology; exploring in new regions; or, a combination of both.

To date approximately 750kt of Cu metal has been discovered within the southern half of the Tritton tenement package, which has attracted the majority of exploration efforts in the past. Over the past several years greenfields exploration has advanced within the under-explored northern half of the tenement package, leading to the discovery of the Constellation deposit. EL 9285 is interpreted to be directly along the geological trend from the Exley prospect, which is within the Tritton tenement package and adjacent to the southern boundary of EL 9285. Historical drilling at Exley in the mid-1990s intersected anomalous gold, up to 8.2g/t in individual assays, with a best intersection of 7m @ 2.45g/t and low grade copper anomalism. Although copper values at Exley are low, there are examples at deposits on the tenement package of 'high gold / low copper' assays occurring in drill holes adjacent to copper sulphide deposits. The Exley prospect is considered prospective for copper mineralisation and further work is planned at Exley.

The rocks hosting mineralisation at Exley are interpreted to continue further north into EL 9285. Initial exploration activities planned for EL 9285 in FY22 will focus on geochemical sampling through an auger drilling campaign and an Airborne Electromagnetic (AEM) survey. AEM is a quick and effective first pass geophysical survey method that is capable of detecting massive sulphide accumulations several hundreds of metres below surface. A previous AEM survey completed in 2019 detected an EM anomaly which led to the discovery of the Constellation deposit.

Contact:

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.

Previous Information

The information in this announcement that relates to previously reported exploration results are extracted from ASX announcements all of which are available on the company's website at www.aerisresources.com.au. The company confirms that it is not aware of any new information or data that materially affects the exploration results included in the relevant original market announcements.

(C) 2021 Electronic News Publishing, source ENP Newswire

All news about AERIS RESOURCES LIMITED
11/24Aeris Resources to Seek M&A
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11/22Aeris undertakes a$ gold hedging for cracow
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11/12Application for quotation of securities - AIS
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11/09Aeris resources limited - constellation drilling program update
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11/09Aeris Resources Uncovers High-Grade Copper at Constellation Deposit
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11/08Constellation drilling program update
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10/25AERIS RESOURCES LIMITED : - Response to Media Article
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10/21AERIS RESOURCES : Tritton adds new exploration tenement to portfolio
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10/21AERIS RESOURCES : Expands Footprint of Tritton Copper Operations with New Tenement Grant
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Financials
Sales 2022 432 M 307 M 307 M
Net income 2022 77,7 M 55,2 M 55,2 M
Net cash 2022 53,7 M 38,2 M 38,2 M
P/E ratio 2022 4,29x
Yield 2022 -
Capitalization 337 M 240 M 239 M
EV / Sales 2022 0,66x
EV / Sales 2023 0,31x
Nbr of Employees 1 091
Free-Float 71,3%
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Number of Analysts 1
Last Close Price 0,15 AUD
Average target price 0,22 AUD
Spread / Average Target 46,7%
EPS Revisions
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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