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Aeris Resources Ltd

Aeris Resources spins drill at possible sleeping giant porphyry system

The Torrens target offers exploration upside to the company's copper operations.

drill rig on site at Lake Torrens
The heli-portable drill rig arrived on site last week

Aeris Resources Ltd (ASX:AIS) has commenced drilling at the large-scale copper-gold anomaly at its 70% owned Torrens Exploration Project in South Australia.

The commencement of drilling at Torrens represents a key milestone for the joint venture which is with Argonaut Resources NL (ASX:ARE).

Argonaut’s subsidiary, Kelaray Pty Ltd, was first granted the Torrens licence in 1998.

Access approvals have been pursued over many years in difficult circumstance to get to this remarkable copper target.

READ: Aeris Resources prepares to drill within the week at Torrens

The heli-portable drilling rig will drill 8-10 holes to depths of 800-1,500 metres.

Drilling is testing an anomaly larger than the world-renowned Olympic Dam located nearby.

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.

Quick facts: Aeris Resources Ltd

Price: $0.07

Market: ASX
Market Cap: $32.36 m
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'The shackles are off Torrens' as Argonaut Resources receives final approval...

Lindsay Owler, chief executive at Argonaut Resources NL (ASX:ARE), tells Proactive's Andrew Scott they've received the final approval required for a major drilling program at the Torrens project in South Australia. An application under section 23 of the Aboriginal Heritage Act 1988 has...

on 20/2/18

2 min read