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Aeris Resources Ltd

Aeris Resources prepares to drill within the week at Torrens

Drilling of the first hole is expected to commence within the next week.

 Arrival of the heliportable drill rig onsite at the Torrens exploration camp
All key contracts have been awarded

Aeris Resources Ltd (ASX:AIS) is preparing to commence drilling within the next week at its 70% owned Torrens Exploration Project in South Australia.

Key infrastructure and equipment has been mobilised to site.

The heliportable drill rig and supplementary equipment, including work platforms, arrived last week.

An exploration camp to accommodate the workforce for the phase I drilling program arrived on-site early in the New Year and is now fully operational.

READ: Aeris Resources to adopt innovative helicopter method in upcoming Torrens drilling

Aeris’s executive chairman Andre Labuschagne said: “We are very pleased with the progress made in the last four weeks, particularly considering this included the Christmas/New Year period.

“It is very exciting to be so close to commencing drilling on this highly prospective exploration project.

“We expect to commence drilling in the next week, once the pontoon supported drill platform has been established on Lake Torrens and the drill rig assembled.”

Stage I drilling at massive Olympic Dam style target

Last year, Aeris noted that the stage I drilling program would consist of 8-10 drill holes targeting depths of 700-1,500 metres.

Located within the Stuart Shelf region of South Australia, the project is 50 kilometres from Oz Minerals’ Carrapateena deposit and 75 kilometres from BHP’s Olympic Dam mine.

The Torrens Anomaly is a large regionally significant coincident magnetic and gravity anomaly with a footprint in excess 120 square kilometres, which is greater than Olympic Dam.

Aeris’s joint venture partner is Argonaut Resources NL (ASX:ARE), which owns the remaining 30% non-operating interest in the project.

Quick facts: Aeris Resources Ltd

Price: $0.06

Market: ASX
Market Cap: $25.98 m
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