Aeris Resources Ltd (ASX:AIS) has fielded a maiden mineral resource estimate (MRE) for Kurrajong deposit of the Tritton copper operations in New South Wales, delineating 2.2 million tonnes at 1.7% copper, 0.2 g/t gold and 5 g/t silver.
This translates to some 37,000 tonnes of copper, 13,000 ounces of gold and 347,000 ounces of silver metal just 20 kilometres from the processing plant at the Tritton operations.
A large part of Kurrajong’s MRE is hosted within a high-grade massive sulphide lens, containing 1.1 million tonnes at 2.5% copper, 0.3 g/t gold and 7 g/t silver.
In total, some 900,000 tonnes of copper have been discovered on the Tritton tenement package to date and Aeris believes there is “significant” potential to expand Kurrajong’s MRE.
Drilling below the Kurrajong MRE has already revealed more copper mineralisation, grading up to 17 metres at 1.3% copper, 0.2 g/t gold and 4 g/t silver at more than 800 metres of depth.
Investors have warmed to the new MRE sending shares more than 6.8% higher in early trading to $0.705.
Highly prospective for further discoveries
“The high-grade nature of the deposit and possibility of further extensions at depth makes Kurrajong an attractive potential future ore source for the Tritton operation,” Aeris Resources executive chair Andre Labuschagne said.
“The high-grade massive sulphide lens contained within the MRE has a similar copper grade tenor to that of the Avoca Tank resource.
“Even though over 900,000 tonnes of copper have already been discovered on the Tritton tenement package, we believe it remains highly prospective for further discoveries.”
Map showing the Tritton tenement package including Kurrajong deposit and the Tritton processing facility.
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