Aeris Resources Limited (ASX:AIS) Constellation Project Update
Drilling Achievements
Aeris Resources Limited (ASX:AIS) has concluded a 70-hole resource definition drilling program at its Constellation deposit. The program yielded multiple high-grade copper intercepts, including 3.40m at 15.20% Cu and 7.65m at 5.46% Cu. This successful drilling contributes to a targeted Mineral Resource upgrade of 2 to 3 million tonnes to Indicated Resource.
Mineral Resource Update
The company plans to deliver an updated Mineral Resource Estimate in the third quarter of FY25. This estimate will support an upcoming detailed mining study and a maiden Ore Reserve Estimate.
Environmental and Regulatory Progress
Significant steps are being taken in the Environmental Impact Statement (EIS) and permitting processes, with expectations to complete both by Q4 FY25. Aeris is preparing a Response to Submissions Report to address consultative feedback and will conduct further cultural heritage assessments.
Executive Comments
Executive Chairman Andre Labuschagne expressed enthusiasm regarding the drilling results, stating, “The diamond drill program continues to deliver high-grade copper intercepts supporting the targeted Mineral Resource upgrade…” He emphasised the timely execution of the project and the strong alignment with Aeris’s growth strategy.
Next Steps
Following the completion of the drill program, Aeris will focus on finalising the updated Mineral Resource Estimate, which will assist in the development of the project and inform the Board’s final investment decision.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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