AIC Mines (ASX:A1M) Commences Drilling at Jericho Copper Deposit
Drilling Commences
AIC Mines has initiated diamond and reverse circulation drilling at the Jericho Copper Deposit, part of the Eloise Regional Project in Queensland. The program includes approximately 9,000 meters of diamond drilling and 2,700 meters of RC drilling, targeting resource definition at the Matilda North, Jolly, Swagman, and Tucker shoots.
Resource Expansion and Exploration
The drilling aims to grow resources and upgrade inferred resources to the indicated category within the Jericho Deposit. Recent exploration has extended the deposit strike by over two kilometers and increased resources by 95%. Additionally, successful drilling at the Swagman shoot has further enhanced high-grade mineralisation, with plans for additional extensional drilling in 2025.
Executive Comments
Managing Director & CEO Aaron Colleran stated, “Jericho is proving to be a regionally significant discovery. Since we acquired the project in January 2023, we have extended the strike of the deposit by over 2 kilometres and have increased resources by 95%. Importantly, the new shoots are closer to Eloise and the underground link drive.”
“Jericho is transformational for Eloise. Our exploration success at Jericho is providing confidence that Eloise will operate as a regional processing hub well into the next decade. Regional exploration could further extend that life and increase production through discovery of higher-grade deposits.”
Motley Fool contributor Abbie Stokes 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 recommended BHP Group. 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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