The high-grade mineralisation intersected at the prospect includes:
• 19.4 metres at 2.18% copper, 0.30 g/t gold, 7 g/t silver;
• 4.6 metres at 5.09% copper, 0.79 g/t gold, 17 g/t silver; and
• 5.65 metres at 2.52% copper, 0.20 g/t gold, 6 g/t silver.
Aeris executive chairman Andre Labuschagne said: “Kurrajong is shaping up as a very exciting project for us.
“Not only have the assay results come back with excellent copper and gold grades but the downhole electromagnetic survey in both these holes showed significant off-hole conductors, inferring extension of strike, in addition to the 500 metres of mineralisation down dip identified so far.
“The really exciting aspect for us is that Kurrajong remains open in all directions.”
The company is targeting production of 27,000 tonnes of copper in FY2018, with 19,094 tonnes produced through the first three quarters.
In FY2017, the Tritton Copper Operations produced 23,404 tonnes of copper, mainly from the Tritton underground mine.
It has about 5 years of mine life given the 1.6 million tonnes per annum processing rate and 10.5 million tonnes of ore reserves grading 1.5% copper.
Accelerated drilling program
Labuschagne added: “Now that Kurrajong is shaping up to be a significant discovery, we will accelerate the drilling program.
“This follow-up drilling forms part of our broader exploration strategy to evaluate a pipeline of both brownfields and greenfields targets to leverage our existing mining and processing infrastructure at the company’s Tritton Operations and deliver on our organic growth plans.
“What we are seeing now at Kurrajong continues to support our belief that the Tritton tenement package (>1,800 square kilometres) remains highly prospective for further discoveries.
“To date, more than 750,000 tonnes of copper has been discovered in the southern half of the tenement package along a geological trend of approximately 50 kilometres of strike.”