AIC Mines has reported promising drilling results at its Iris and Eloise South prospects near the Eloise copper mine, confirming extensive copper mineralisation and a spectacular high-grade gold intercept.
- Copper mineralisation confirmed over 1.5 km strike at Iris
- High-grade copper shoots identified analogous to Jericho deposit
- Eloise South drilling reveals significant high-grade gold intercept
- Mineralisation remains open for further exploration
- Follow-up drilling planned to test conductive targets
Iris Prospect Reveals Extensive Copper Mineralisation
AIC Mines (ASX:A1M) has released new drilling results from its Iris prospect, located just 5 kilometres north of the Eloise copper mine. The first two holes of a planned six-hole program have confirmed anomalous copper mineralisation extending over a 1.5-kilometre strike length, with mineralisation open along strike and at depth. This extends from near surface down to approximately 400 metres vertically, reinforcing Iris as a high-priority target within the Eloise regional portfolio.
Significantly, the geological setting at Iris mirrors that of the nearby Jericho copper deposit, located 7 kilometres to the south. Both prospects sit on the same splay of the Levuka Shear and host copper mineralisation in altered metasediments adjacent to amphibolite intrusions. This analogy is bolstered by the identification of shallow, north-plunging high-grade copper shoots at Iris, with intervals exceeding 2% copper, a promising sign for potential resource growth.
High-Grade Gold Intercept at Eloise South
Meanwhile, at Eloise South, situated 2 kilometres south of the Eloise mine, drilling has intersected copper mineralisation consistent with previous anomalous results. More strikingly, a diamond drill hole returned a spectacular high-grade gold intercept within stockwork quartz-sulphide veins: 3.2 metres grading 92.5 grams per tonne gold, including 1.2 metres at 249 grams per tonne. This intercept lies at a depth of around 446 metres and was identified through downhole electromagnetic surveys that detected a conductive unit correlating with the gold mineralisation.
The discovery of such a high-grade gold shoot at Eloise South adds a compelling new dimension to AIC Mines’ regional exploration efforts, suggesting the potential for significant gold resources alongside copper. The company plans further drilling to test this conductor and expand on these early results.
Historical Data and Exploration Continuity
The Iris prospect was initially discovered by Minotaur Exploration in 2016, with drilling results at the time showing encouraging copper and gold grades. However, exploration focus shifted to the Jericho deposit, leaving Iris underexplored until now. AIC Mines’ recent drilling has revisited and extended these early intersections, confirming continuity and high-grade zones.
At Eloise South, historical drilling from 2007 and 2008 by previous owners also identified copper mineralisation, and AIC Mines’ recent results build upon this legacy with the addition of the high-grade gold intercept. Both prospects are covered by secure mining leases and exploration permits, with native title clearances and agreements in place.
Technical Assurance and Next Steps
Drilling was conducted using industry-standard diamond drilling techniques, with rigorous sampling and assay protocols overseen by competent geoscientists. Assay results were validated through comprehensive QAQC procedures, ensuring confidence in the reported grades and intervals.
With mineralisation remaining open at both Iris and Eloise South, AIC Mines is planning follow-up drilling to test extensions of the copper zones at Iris and to further investigate the conductive target associated with the high-grade gold at Eloise South. These results, combined with the company’s ongoing expansion of the Eloise processing plant and Jericho ramp-up, position AIC Mines to potentially enhance its resource base in a region already proving its copper credentials.
Bottom Line?
AIC Mines’ latest drilling confirms promising extensions of copper mineralisation at Iris and unveils a standout high-grade gold intercept at Eloise South, setting the stage for further exploration and potential resource upgrades.
Questions in the middle?
- Can follow-up drilling confirm the continuity and scale of high-grade copper shoots at Iris?
- Will the conductive target at Eloise South lead to a substantial gold resource alongside copper?
- How might these exploration results influence AIC Mines’ production and expansion plans in the near term?