Aeris Resources has lifted its Group Mineral Resources by 24% and Ore Reserves by 50% to 61Mt and 21Mt respectively, driven by the Peel Mining acquisition and exploration success across its portfolio.
- Group Mineral Resources up 24% to 61Mt
- Ore Reserves increase 50% to 21Mt
- Peel Mining acquisition adds Mallee Bull and Wirlong
- Tritton Ore Reserves quadruple with maiden undergrounds
- Jaguar Project remains on care and maintenance
Substantial Growth Fueled by Acquisition and Exploration
Aeris Resources Limited (ASX:AIS) has unveiled a significant upgrade to its Mineral Resource and Ore Reserve base as at 30 June 2026, reporting a 24% increase in Group Mineral Resources to 61 million tonnes and a 50% jump in Ore Reserves to 21 million tonnes. The portfolio now contains 950,000 tonnes of copper, 1.4 million ounces of gold, 1.1 million tonnes of zinc, and 43 million ounces of silver.
The surge is largely attributed to the strategic acquisition of Peel Mining Limited, completed on 1 July 2026, which added the Mallee Bull and Wirlong deposits to Aeris's Tritton Operations. These assets contributed materially to the resource and reserve growth, with Mallee Bull alone adding 11 million tonnes and 200,000 tonnes of copper metal to the Mineral Resource tally.
Tritton Operations Lead the Charge with Fourfold Reserve Increase
The Tritton Operations, located in New South Wales, reported a 70% increase in Mineral Resources to 33 million tonnes containing 540,000 tonnes of copper and a remarkable fourfold increase in Ore Reserves to 10 million tonnes with 180,000 tonnes of copper. The company declared maiden underground Ore Reserves at both the Constellation and Mallee Bull deposits, underpinning the expansion of the mine life and production profile.
Constellation, a key growth project, has progressed to Pre-Feasibility Study stage with detailed open pit and underground mine designs, and a mining lease granted in July 2026. The project is integrated into the existing Tritton processing infrastructure, with metallurgical test work confirming favourable recoveries across oxide, supergene, and primary sulphide ore domains.
Cracow and Stockman Projects Show Steady Resource and Reserve Growth
In Queensland, the Cracow Operation's Mineral Resources increased by 10% to 5 million tonnes, albeit with a slight 5% decrease in contained gold. Ore Reserves more than doubled to 1.2 million tonnes containing 82,000 ounces of gold, driven by mine planning additions and updated cut-off grades. The project continues to operate underground with established infrastructure and ongoing exploration targeting extensions to known ore shoots.
The Stockman Project in Victoria showed modest Mineral Resource growth to 17 million tonnes with 320,000 tonnes of copper and 630,000 tonnes of zinc. Ore Reserves remained steady at 9.8 million tonnes, with small decreases in zinc and precious metals content reflecting updated mining and reporting methodologies.
Jaguar Project on Hold Pending Further Exploration
The Jaguar Project in Western Australia remains on care and maintenance with no Ore Reserves reported. The Mineral Resource estimate remains unchanged at 6.6 million tonnes containing 90,000 tonnes of copper and 420,000 tonnes of zinc. Pre-feasibility studies have paused pending further exploration to increase mineable resources required for a viable restart.
Robust Technical Foundation and Forward Work Plan
Aeris has underpinned its estimates with comprehensive technical studies adhering to JORC Code 2012 standards, including detailed geological modeling, metallurgical test work, and mine design. The company plans to advance resource definition and exploration drilling across its core assets in FY27, with updated Mineral Resource estimates scheduled for the Golden Plateau deposit and others.
Environmental and regulatory approvals are in place or progressing for key projects such as Constellation and Mallee Bull, with community engagement and infrastructure development integrated into the expansion plans. The company continues to leverage its existing processing facilities and regional workforce to optimize capital efficiency and operational execution.
Executive Chairman Andre Labuschagne highlighted the success of the growth strategy through exploration and acquisition, emphasizing the material contribution of Peel Mining assets and ongoing drilling programs at Tritton and Cracow.
The company’s focus remains on sustaining and growing high-quality Mineral Resources and Ore Reserves, extending mine life, and advancing development projects to deliver long-term value.
Bottom Line?
Aeris Resources' sizeable resource and reserve growth sets the stage for expanded production, but execution risks and commodity price volatility remain key factors to monitor.
Questions in the middle?
- How will Aeris balance capital expenditure with sustaining operations across its expanded portfolio?
- What are the timelines and risks associated with regulatory approvals for the Constellation and Mallee Bull projects?
- How might metal price fluctuations impact the economic viability of newly added resources and reserves?