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Aeris Resources subsidiary increases substantial holding in GBM Resources

Straits Mineral Investment has acquired a further 7,407,407 shares, taking its total holding to 29,629,630 shares.

Aeris Resources Ltd - Aeris Resources subsidiary increases substantial holding in GBM Resources
The subsidiary now holds a voting power of 6.84%

Aeris Resources Ltd’s (ASX:AIS) wholly owned subsidiary Straits Mineral Investment Pty Ltd has increased its substantial holding in GBM Resources Limited (ASX:GBZ) (FRA:36G).

Straits has acquired 7,407,407 shares at 13.5 cents per share, increasing its holding in GBM to 29,629,630 shares and a voting power of 6.84% (previously 22,222,222 shares and a voting power of 5.22%).

High-grade copper at Constellation deposit

The company recently intersected further high-grade copper mineralisation at its Constellation deposit within its 100%-owned Tritton tenement package in Central West New South Wales.

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, which will enable the company to develop an extensive second phase drill program and better define the boundaries of the deposit.

Quick facts: Aeris Resources Ltd

Price: 0.125 AUD

ASX:AIS
Market: ASX
Market Cap: $237.13 m
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