AIC Mines (ASX:A1M) Reports Significant Increase in Mineral Resources
Mineral Resource Growth
AIC Mines Limited (ASX:A1M) has reported updated Mineral Resource estimates for its Eloise, Jericho, Sandy Creek, and Artemis projects. The Jericho Project saw a significant increase to 19.2Mt grading 2.0% Cu and 0.4g/t Au, marking a 33% rise in contained copper and a 39% surge in contained gold. The Indicated Resource at Jericho notably expanded by 54% in copper and 68% in gold, enhancing the project’s long-term viability. Conversely, the Eloise Copper Mine experienced a slight decrease in Mineral Resources to 5.9Mt grading 2.5% Cu and 0.6g/t Au, reflecting a 6% reduction in contained copper and an 11% decline in contained gold due to mining depletion. The Sandy Creek Project demonstrated growth, increasing to 2.6Mt grading 1.1% Cu and 0.3g/t Au, representing a 20% rise in contained copper and a 7% uptick in contained gold. Combined, the Mineral Resources across all projects have grown to 28.4Mt grading 2.0% Cu and 0.4g/t Au, indicating a 16% increase in contained copper and a 14% enhancement in contained gold.
Executive Comments
Managing Director & CEO Aaron Colleran stated, “Exploration and resource definition drilling conducted in 2024 has successfully upgraded the Jericho Mineral Resource in terms of both resource category and size – providing further confidence that Jericho will be a reliable, long-life operation for AIC Mines.” He further added, “The combined Mineral Resource base of 28.4Mt, all within 20 kilometres of the Eloise processing plant, supports our expansion plans and underpins our confidence that Eloise will continue as a regional processing hub well into the next decade.”
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