Brisbane-based Aeris Resources (ASX:AIS) has concluded a 70-hole resource definition drilling program at its Constellation deposit within the Tritton tenement package in New South Wales.
The program uncovered multiple high-grade copper intercepts, revealed in an announcement on Jan. 22.
Among the highlights, drill hole TAKD133 reported a 3.40m at 15.20% copper, 3.83 grams per tonne of gold, and 45.5 g/t silver.
Drill hole TAKD126 returned 7.65m at 5.46% copper, 1.03 g/t gold, and 13.5 g/t silver.
An updated mineral resource estimate is anticipated this quarter, aiming to convert 2-3 million tonnes to indicated resource to support further mining studies.
The environmental and permitting processes for the Constellation Mine are on track for completion in Q4 of FY25.
"We are excited with the progress at Constellation. The diamond drill program continues to deliver high-grade copper intercepts," stated Andre Labuschagne, Executive Chairman of Aeris Resources.
"The site team have done an excellent job delivering the drill program on time and within budget," Labuschagne added.
As the company transitions focus, the updated mineral resource estimate is expected in Q3 FY25 to facilitate mine design, scheduling, and a maiden ore reserve estimate.
Aeris Resources is a mid-tier base and precious metals producer engaged in the production, sale and exploration of copper, zinc, gold and silver. Its segments include Tritton Copper Operations; Cracow Gold Operations; North West Copper Operations; Jaguar Zinc and Copper.
At the time of reporting, Aeris Resources' share price was $0.1675.