Aeris Resources Limited Provides an Update on Exploration Activities at the Constellation Deposit, Located Within the Company's 100% Owned Tritton Tenement Package in New South Wales
August 02, 2021 at 08:22 pm EDT
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Aeris Resources Limited provided an update on exploration activities at the Constellation deposit, located within the Company's 100% owned
Tritton tenement package in New South Wales. Near surface RC, Diamond Tails and Diamond drilling - Technical Discussion: The initial RC drill program, totalling 52 holes, targeted mineralization 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 mineralization 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. Assay results have been received for the first five drill holes extended via diamond tails. Significant assay results from the combined RC /diamond tail drill holes include: TAKRC004 - 61.6m @ 5.12% Cu, 0.80g/t Au, 4.7g/t Ag (from 44m) including: 38.2m @ 2.95% Cu, 0.48g/t Au, 1.8g/t Ag (from 44m) RC. 23.4m @ 8.67% Cu, 1.33g/t Au, 9.5g/t Ag (from 82.2m) Diamond. TAKRC0031 - 12.5m @ 11.14% Cu (from 45m). 4.6m @ 11.18% Cu1 (from 45m) RC. 8.2m @ 11.12% Cu1 (from 49.6m) Diamond. TAKRC005 - 23.7m @ 2.93% Cu, 0.87g/t Au, 5.5g/t Ag (from 113.3m). Additional to the above high grade copper intersections, diamond drill hole TAKD019 intersected a thick sulphide intersection down plunge from TAKRC006. Significant assay results from TAKD019 include:
48.7m @ 2.56% Cu1 (from 140.3m) and 6.0m @ 2.53% Cu1 (from 198m). The thick high grade copper intersections reported from TAKRC004, TAKRC005 and TAKD019 are located along the northern margin of the near surface supergene and primary sulphide mineralized system. This represents the thickest part of the deposit identified to date from drilling. 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 mineralized system further south from
previous drilling. Copper sulphides were intersected in six drill holes, extending mineralization a further 100m along strike, to 300m in total. Several drill holes intersected thin (<50cm) semi massive pyrite - chalcopyrite intersections at the target horizon. It's probable the drill holes are intersecting the southern margin of the mineralized system. A down hole EM (DHEM) survey is planned to test for conductive bodies further south beyond the current drilling footprint. The remaining 7 drill holes targeted mineralization down plunge from the RC footprint and within the area that is the focus of the resource definition drilling campaign. Assay results have been returned for 6 of these diamond drill holes, including TAKD019 reported above. Significant high grade copper intersections returned include: TAKD011 - 1.75m @ 8.54% Cu, 5.62g/t Au, 21.9g/t Ag (from 346.85m); TAKD012 - 11.2m @ 1.75% Cu, 0.67g/t Au, 2.8g/t Ag (from 435.8m); TAKD014 - 20.3m @ 2.02% Cu, 0.49g/t Au, 4.7g/t Ag (from 475m); TAKD017 - 16.7m @ 1.85% Cu, 0.61g/t Au, 4.0g/t Ag (from 311m); TAKD020 - 3.9m @ 3.49% Cu, 0.53g/t Au, 6.0g/t Ag (from 118m). Path forward: Due to COVID restrictions at the location of the laboratory the company is using, the turnaround time on assay results are being delayed. The company expects this situation to continue for the next few weeks at least. However, this is not slowing down activities at Constellation, with three rigs still drilling: RC drilling has recommenced at the Constellation deposit following the completion of the highly successful 52 hole program. The current program, totalling 19 RC holes, will test strike extensions further south from the near surface, high grade copper mineralization defined from the initial drill program. The two diamond drill rigs will continue a combination of exploration and resource definition drilling.
Aeris Resources Limited is a mid-tier base and precious metals producer. It is engaged in the production, sale and exploration of copper, zinc, gold and silver. Its segments include Tritton Copper Operations; Cracow Gold Operations; North West Copper Operations; Jaguar Zinc and Copper Operations; Stockman Copper and Zinc Project, Other. Tritton Copper Operations is an underground copper operation located in the Cobar region of central New South Wales. Cracow Gold Operations is an underground gold operation located in central Queensland. Jaguar Operations is an underground zinc, copper and silver mining operation located in the Eastern Goldfields region of Western Australia. North Queensland Operations comprises of underground Mt Colin copper mine, Barbara development project and a prospective, 1,102 square kilometers (km2) tenement package. The Stockman Copper and Zinc Project is a copper and zinc development project located 300 kilometers (km) northeast of Melbourne.
Aeris Resources Limited Provides an Update on Exploration Activities at the Constellation Deposit, Located Within the Company's 100% Owned Tritton Tenement Package in New South Wales