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AIC Mines hits gold near Queensland copper mine
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AIC Mines hits gold near Queensland copper mine

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  • AIC Mines defined copper mineralisation over 1.5km at Iris and hit high-grade gold at Eloise South.
  • Shares in the company traded up following the exploration announcement.
  • Drilling aims to expand resources near the existing Eloise processing infrastructure.

AIC Mines (ASX:A1M) has defined copper mineralisation across 1.5km and struck high-grade gold near its Queensland mine.

The exploration programme at Iris and Eloise South builds on regional work previously conducted in 2016.

"These are outstanding results and reflect the exploration team's growing understanding of the regional controls on copper and gold mineralisation across the Eloise district," said AIC Mines Managing Director Aaron Colleran.

Drill hole ESDD007 returned 3.2m grading 92.5 grammes per tonne of gold from 446.4m depth.

Following the announcement, the AIC Mines share price was up at $0.74.

The company stated that follow-up drilling will test high-priority targets during the current field season.

AIC Mines operates the underground Eloise copper mine located southeast of Cloncurry in North Queensland.

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