AIC Mines Limited (ASX: A1M) has obtained positive results from exploration drilling completed at the Sandy Creek and Artemis prospects located 20 km west of the company’s flagship asset, the Eloise Copper Mine in Queensland.
Both prospects are within trucking distance of the Eloise processing plant and are part of the Company’s strategy to extend the life of the Eloise project through a hub and spoke approach to regional development.
Highlights
- Drilling at Sandy Creek to test for a southerly plunge has successfully intersected extensive alteration including a best result of:
- 7.1m grading 1.10% Cu, 0.2g/t Au and 7.67g/t Ag from 359.5m
- This result has extended the mineralised zone 100m down plunge.
- Drilling at Sandy Creek also confirmed the continuation of high-grade mineralisation at shallow depths with the significant intercept:
- 2.2m grading 3.00% Cu, 0.2g/t Au and 2.15g/t Ag from 56.3m
- Drilling at the nearby Artemis Prospect intersected mineralisation down plunge, indicating potential for additional zones of mineralisation at depth.
- 2.0m grading 2.40% Cu from 468.0m
- 0.4m grading 1.20% Cu from 289.9m
“AIC Mines holds tenements covering approximately 2,000 sq. km surrounding the Eloise mine. This highly endowed area contains a strong pipeline of targets that we believe will extend the Eloise project well beyond 10 years. This short programme of drilling at the Sandy Creek and Artemis prospects has successfully confirmed that mineralisation remains open at depth. Further drilling is clearly warranted at both prospects,” Managing Director, Aaron Colleran, said.
Eloise Regional Project (AIC Mines 100%)
The Eloise Regional Project consists of approximately 2,000 sq. km of contiguous tenure immediately surrounding the Eloise mine. The highly endowed project contains a strong pipeline of targets from early-stage prospects along the same trend as Jericho (e.g. Bagdad to St Louis) to advanced exploration prospects (e.g. Artemis) to known historical resources at Sandy Creek.
Exploration Drilling Programme
A programme of diamond drilling targeting extensions to mineralisation at the Sandy Creek Copper-Gold Prospect and the Artemis Polymetallic Prospect was completed in November 2023. A total of 6 holes for 2,326m were completed with the aim of:
- Confirming the potential extension of mineralisation down dip and down plunge at both prospects.
- Infilling a gap in the resource at the near surface at Sandy Creek where no drilling data exists.
- Testing previously untested ground electromagnetic (GEM) conductors to the east of Sandy Creek mineralisation.
- Testing along strike and down plunge of the Artemis mineralisation.
Both prospects are within trucking distance of the Eloise processing plant and are part of the Company’s strategy to extend the life of the Eloise project through a hub and spoke approach to regional development.
