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Aeris Resources intersects more high-grade copper at Constellation deposit

After encouraging assays, the company is working on the next phase drill program which aims to better define the boundaries of the deposit.

Aeris Resources Ltd - Aeris Resources intersects more high-grade copper at Constellation deposit
Aeris has received approval for a further 25 drill holes at Constellation.

Aeris Resources Ltd (ASX:AIS) has intersected further high-grade copper mineralisation at Constellation deposit within its 100%-owned Tritton tenement package in Central West New South Wales.

The company has received assay results from the third drill hole completed at Constellation deposit, which is proximal to the Tritton operations.

Drill hole TAKD003 has intersected high-grade copper mineralisation around 80 metres down dip from drill hole TAKD001, with results of 27.10 metres at 1.61% copper, 0.43 g/t gold and 3.4 g/t silver from 233.90 metres.

Within this was 6.30 metres at 2.30% copper, 0.47 g/t gold and 4.8 g/t silver from 233.90 metres and 10.80 metres at 2.37% copper, 0.66 g/t gold and 4.9 g/t silver from 250.20 metres.                                                                        

Aeris has also received approval the NSW Resources Regulator for a further 25 drill holes at the Constellation deposit.

“Very encouraging intersections”

Aeris’ executive chairman Andre Labuschagne said: “Deposits within the Tritton tenement package are generally characterised by significant down-dip continuity.

“Intersecting more high-grade copper in TAKD003, which is approximately 80 metres down dip from TAKD001, is very encouraging.”

“With three EM plates that remain open and approval received for a further 25 drill holes, the next phase drill program will be aiming to better define the boundaries of the Constellation deposit.”

Cross section through the known Constellation deposit showing the location and hole path of drill holes TAKD001 to TAKD003.

Looking forward

Drilling has restarted at the Constellation deposit following the Christmas-New Year break.

The current drill hole, TAKD005, is targeting the modelled EM conductor 80 metres (south) along strike from TAKD003.

Downhole EM (DHEM) surveying is planned to start in the coming weeks to assist with refining the extents to the sulphide bodies and planning further drill hole target positions.

Approval from the NSW Resources Regulator for up to 25 additional drill holes will enable the company to develop an extensive second phase drill program, seeking to better define the boundaries of the Constellation deposit.

Shares have been as much as 10% higher intra-day to 11 cents after reaching a new 12-month high of 13 cents earlier this month.

Quick facts: Aeris Resources Ltd

Price: 0.135 AUD

ASX:AIS
Market: ASX
Market Cap: $256.1 m
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