Aeris Resources - Updated Ore Reserve Estimate - Tritton deposit
Aeris has updated the Ore Reserve Estimate for its Tritton copper deposit in NSW, with the Proved and Probable Ore Reserve now reported at 6.4Mt at 1.6% copper for 100,000 tonne of contained metal. This represents a 32% increase in contained metal on the previous numbers and is after depletion by mining in FY16. The increase results from a resource drilling completed in early 2016 that extended knowledge of the deposit to about 1,250m below surface, with mineralisation still open at depth.
Aeris Resources Limited (ASX: AIS) (Aeris or Company) is pleased to announce an update of the Mineral Resource and Ore Reserve Estimates, as at 30 June 2016, for its Tritton deposit at the Company’s Tritton Copper Operations in New South Wales.
The updated Proved and Probable Ore Reserve Estimates for the Tritton deposit is 6.4Mt at 1.6% copper for 100k tonne of contained copper metal. This represents a 32% increase, (by contained metal), on the previous public reported Ore Reserve estimate (as at 30 June 2015) of 4.4Mt at 1.7% coper for 76k tonne of contained copper and is after depletion by mining in the year of 28k tonne contained copper metal.
The increase results from a resource drilling program completed in early 2016 that extended knowledge of the Tritton deposit to approximately 1,250 below surface. An update of the Mineral Resource estimate has also been completed, based on this drilling program. The Tritton deposit remains open at depth and further resource drilling is planned for the future when suitable underground drill locations become available.
Aeris’ Executive Chairman, Andre Labuschagne said “The updated Mineral Resource and Ore Reserve estimates for the Tritton deposit underpin an extension of the mine life at the Tritton Operations to 2023.”
The revised estimates for these deposits are reported in accordance with the JORC Code 2012 standards. The supporting JORC Code 2012 documentation for the updated Mineral Resource and Ore Reserve estimate is attached to this release and posted on the company’s web site.