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Within the assay mentioned above, WCN also found a high-grade intercept of 18.3m at 4.66 Cu and 17.2 g/t Ag, plus another mineralised zone defined by 12.19m at 1.13% Cu and 2.13 g/t Ag from 91.44; the latter suggests the presence of a sub-parallel structure.

The drilling work – which was reverse circulation – focused on the Danvers project area. The expectations for this area have been bolstered by surface chip sampling of the structure which hosts Danvers, albeit five kilometres southwest.

This yielded assays – picked up over an area of 150 metres – such as 16.15% Cu and 68.5g/t Ag, 13.3% Cu and 70g/t Ag, 9.54% Cu and 29.9g/t Ag, 7.79% Cu and 74g/t Ag.

WCN has therefore confirmed high-grade copper and silver mineralisation along a structural trend of more than 5km, and is planning step-out drilling to test the structure to the southwest.

Managing director Troy Whittaker said the recent work revealed potential hidden treasure at Danvers. “Another solid result from hole six confirms persistent high-grade copper mineralisation at Danvers,” he said.

“What is also now highly encouraging is the recognition and confirmation [that] the structural trend at Danvers is mineralised.

“With high-grade copper and silver now identifiable over more than 5km of the structure to the southwest, the potential of this area is extraordinary.”

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He continued: “The geological team digitised all historic chemical and aerial data and what is emerging from this process, and confirmed by these recent rock chip results, is that Danvers could be very large indeed… the current historical estimate is in no way indicative of the overall potential this structure.”

WCN has been selling at 2.6 cents a share heading into Friday’s trade.

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The drilling – which comprised 17,000 metres – was seeking to boost the size of KMC’s high-grade sulphide underground resource, while also building confidence in its numbers, to inform an update to the mineral resource estimate.

The latter will be the jumping off point for a feasibility study to assess the technical and commercial viability of mining the resources at RGP, which would be treated at a modified Cosmic Boy Process Plan.

Results from the drilling work included 7.8m at 17.4g/t gold (Au), 1.5% copper (Cu), 6.6g/t silver (Ag) (19.9g/t gold equivalent, or AuEq) from 218.2m in one hole, including 2.3m at 57.5g/t Au, 5.0% Cu, 20.4g/t Ag (65.7g/t AuEq) from 218.2m.

Managing director Paul Bennett said the drilling was an important element in future plans for the RGP. “These exceptional results from Gem are extremely positive and will now contribute to a resource update for the first lode scheduled for mining in the feasibility study mine plan,” he said.

“Deposit continuity, grades, and thicknesses observed consistently throughout this drill program build a great deal of confidence in the early stages of the plan.”

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Mr Bennett continued: “In addition, confirmation that both new footwall lode intercepts at Gem and Harbour View are strongly mineralised add to the growth story and will now be the target of follow-up drilling.”

“We look forward to results continuing to flow from Harbour View in advance of the resource update expected in July,” he concluded.

MM8 has been trading at 27 cents on Monday morning.

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The company will take on 10 exclusive prospecting licences from notable Brazilian base metals producer Nexa Resources S.A for an upfront cash consideration of US$3 million, plus a deferred cash consideration of the same amount upon completion of a pre-feasibility study, another US$2M upon Midas’ decision to go ahead with mine development, and a further US$2M within 12 months of the commencement of commercial production.

Additionally, Nexa will be offered a net smelter return royalty of 1%, of which Midas may acquire half for US$2M in cash.

The project – known as Otavi – stretches across approximately 1,776 square kilometres close to a town of the same name, and 360 km northeast of the capital Windhoek, and includes 2 significant deposits which are awaiting resource definitions, T13 and Deblin.

Both have yielded impressive results through past development work, including 17.2 metres at 7.24% Cu (copper) and 144.4 grams per tonne (g/t) Ag (silver) from 125.84m, including6m at 16.65% Cu and 370.3g/t Ag from 131m at T13, which comprises 2 kilometres of strike from surface and open.

Results from Deblin – which comprises the same strike parameters – include 15m at 4.15% Cu, 14.6g/t Ag & 0.22g/t Au from 449m; and17m at 1.72% Cu from 394m.

Another sweet spot within Otavi is the Hartebeestpoort Prospect – 4km strike (from surface and open), which includes results such as 11.2m at 3.11% Cu, 0.54g/t Au & 28.4g/t Ag from 26m.

Managing director Mark Calderwood said this was an important moment for Midas.

“Exploration over the past decade at the Otavi Project has identified multiple high-grade copper deposits, with accompanying silver and gold,” he said.

“Acquiring this project is transformational for Midas, providing us with a highly prospective and advanced project that we can rapidly explore and grow a resource base to deliver value to our shareholders.”

Midas shares have been trading at 15.7 cents.

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The company had identified multiple target locations for pXRF, and 37 surface samples bringing in grades beyond 50g/t for the precious metal.

These were also found in areas approximately 150 metres south and 300 metres north of the historic Elizabeth Hill mine site, including a highest recorded silver value of 920g/t silver (Ag).

Errawarra has underlined the fact that grades beyond 50g/t are usually associated with iron-rich, gossanous-like float material, in some cases indicating mineralised extensions to the known system.

Several programs of work are planned to continue investigation of the mineralisation in these areas, including more surface sampling, surveys using a metal detector to find more material in the target vicinity, and trenching to find potential mineralised structures at surface.

Those samples already collected have been sent to the lab to undergo analytical assessment, and assay results will be due in 6 to 8 weeks.

Executive director Bruce Garlick said the silver grade observations had been extremely exciting for Errawarra’s field team.

“The identification of high-grade silver values in areas north and south of the historic mine presents compelling new targets,” he said.

“We will now focus further field work in these areas to determine the potential for extensions to the known mineralisation.

“Coupled with our upcoming drilling program, due to commence in the coming weeks,this once again highlights the significant exploration potential at Elizabeth Hill.”

Errawarra shares have been trading at 5.1 cents.

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This result was taken from the Danvers prospect, where assays have confirmed the presence of a shallow, high grade copper system which remains open at depth and alongstrike.

WCN’s continued drilling at Danvers has proven extensions to high grade mineralisation there – much of it previously unknown and untested. The most impressive intersection so far has been 63m at 2.23% Cu & 7.1g/t silver (Ag) from 9.14m, including a high-grade intercept of 15m @ 5% Cu & 16.9g/t Ag from 18.29m.

Another hole at the prospect returned strong copper values, including 38m at 1% Cu & 1.89g/t Ag from 7.62m; and 72m at 1.08% Cu & 4.22g/t Ag from 62.48m, including a high-grade intercept of 14m at 2.32% Cu from 106.68m.

The company has also completed pre-collar drilling at Hulk, in preparation for an upcoming diamond drilling program.

However, Danvers is also a focal point for future surveying work, with WCN progressing discussions with its contracting partners to facilitate targeted airborne geophysicalsurveys across the prospect’s 9.1km target fault zone.

Alongside this, the company wants to utilise the proven down hole electromagnetic survey across the broader Rae project which will support and help target these future campaigns.

Managing director Troy Whittaker said exploration work at the project – located in Canada’s Nunavut territory – continued to be promising.

“Assays from Rae continue to exceed expectations: 175m at 2.5% Cu, 58m @ 3.08% Cu, 52m at 1.16% Cu and now further significant intercepts of 63m at 2.23% Cu and 72m at 1.08%,” he said.

“These high-grade intercepts from surface are rare in the exploration world as explorers over recent times have had to go deeper and deeper to identify additional copper resources.

“Being the first mover into this highly prospective location, after more than a decade of inactivity due to political constraints – securing the licences organically and now having undertaken our first drill program, positions us well both for future work programmes and facilitate further discoveries.”

WCN has been trading at 3.2 cents.

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In addition to this material increase, the update also increases certainty in the resource – with 88% now in the measured and indicated categories – and provides a strong foundation for NWC to complete definitive feasibility on the project, with production to kick off in 2027.

Another aspect of the resource increase is that involving the contained metal found in Antler. The total contained CuEq metal rose by around 16% to 543,000 tonnes (of which 505,000t was measured and indicated).

This included a 27% increase in contained silver and a 15% increase in contained gold.

Another important component was the Antler Sulphide Domain Resource, which formed the basis of the Antler PFS mine plan. Its overall resource tonnes rose by 11% to 12.7 Mt at 4.1% CuEq compared to 2022 MRE.

Managing director Nick Woolrych said the update was a significant one in the company’s plans for Antler.

“We are extremely pleased with the updated Antler Mineral Resource Estimate, which marks a major milestone for New World in our pathway to production,” he said.

“The new Resource continues to demonstrate that Antler is not only one of the highest-grade copper projects in the world but is also now exceptionally well understood by our team as we head towards production in 2027.

“Compared to the November 2022 Resource, we’ve achieved a substantial increase in both geological certainty and tonnes, along with higher contained gold and silver ounces. It’s particularly exciting to see new mineralised domains now making their way into the overall estimate, adding further upside to the Project.”

The company received results from 81 holes in the program – which will include around 310 holes overall – revealing a solid and coherent geochemical anomalism which indicate continuation of Achilles mineralisation for at least 1.2 kilometres south of what has been defined.

Two trends have been picked up through this work at AGC’s South Cobar project, with the first involving silver-gold-lead-zinc-copper-antimony-arsenic-bismuth pathfinders which push the Achilles trend to the south by the above measure (Achilles Trend), and an anomalous copper-bismuth coincident with a large magnetic high (Western Trend).

AGC intends to follow up the aircore drilling (from which 280 holes have been completed to date, with 199 holes pending data) with reverse circulation drilling. This will concentrate on deeper extensions to the main Achilles deposit.

Managing Director Glen Diemar said the results would guide AGC’s expectations looking ahead.

“Our growth plans are well underway with the first assay results received from the Achilles aircore program indicating the mineralisation footprint extends for at least another 1.2km southward,” he said.

“This is a great result as it demonstrates the potential for real scale for near term growth.

“Infill drilling is underway on this trend and we certainly look forward to further results to assist with targeting leading into the next round of RC drilling.”

AGC shares traded higher after the news, and at 13:44 AEST, they were at 14.5 cents – a rise of 3.57% since the market opened.

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With targets finalised, the company is ticking off other preparatory activities, including the awarding of a drill contract – which is imminent, soil sampling, and mapping on-site, and the completion of capital raising initiatives.

As part of the last, Errawarra successfully raised $3 million – with the first tranche funds of $631,000 received, and around $2.3 million held in a trust account – and the company is setting up a general meeting on Monday, May 19, to let ERW shareholders vote to approve this transaction.

Additionally, the company plans to change its name to West Coast Silver, underlining the importance of Elizabeth Hill to its plans for the future.

Executive director Bruce Garlick said preparations for this phase of exploration work were ticking along as planned. “I’m very pleased with the rapid progress we’re making across multiple fronts at Elizabeth Hill.”

Mr Garlick continued: “The team is doing an excellent job finalising high-priority drill targets and advancing both the soil sampling and mapping programs.”

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“These are important steps in refining our understanding of the project and preparing for drilling. I’m excited about what lies ahead and look forward to seeing drilling commence in the near term.”

ERW has been trading at 5.6 cents early on Tuesday.

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The region’s governments are becoming increasingly aware of the need to shore up future supplies of a wide range of commodities and are working to attract more activity.

The region has been perhaps best recognised for lithium and the ‘Lithium Triangle’ spanning Argentina, Bolivia and Chile. However, with lower lithium pricing, the focus has shifted to include materials including gold, silver, copper, mineral sands, phosphate, uranium, and more.

Because many jurisdictions have been under-explored in Latin America, ASX-listed companies are finding projects of a quality that’s now very difficult to secure in Australia.

What’s also pleasing those companies working in the region is that operational costs, such as power and labour, are dramatically cheaper. They are finding that approval processes are moving faster.

In this webinar, you’ll hear about the risks and the potential rewards – with facts and figures for investors to consider.

We ask company leaders what attracted them to Latin American projects, we discuss the potential impacts of Donald Trump’s tariffs, and we look at their experiences in developing a variety of projects.

Our guests include experts and company leaders:

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In this HotCopper Thematic Insights report, we explore jurisdictions that are rolling out the welcome mat to ASX-listed exploration and mining investment.

We weigh up the risks vs. rewards, and we talk to companies with first-hand experience working in Argentina, Brazil, Chile, Mexico and Peru.

Learn about companies in Latin America, including Lodestar Resources (ASX:LSR); Viridis Mining & Minerals (ASX:VMM); EV Resources (ASX:EVR); Advance Minerals (ASX:AVM); Battery Age Minerals (ASX:BM8); Equinox Resources (ASX:EQN); and, Magnum Mining & Exploration (ASX:MGU).

Download your FREE report here.

To learn more, see the associated Webinar and hear this week’s HotCopper Podcast.

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Only one part of the wider South Cobar project, the deposit now contains a pit-constrained mineral resource estimate of 3.56 million tonnes at 0.59% copper, 0.63 grams per tonne gold, 33g/t silver, 0.64% lead and 0.70% zin or 1.82% copper equivalent.

From this, Peel will yield approximately 21.1,000t Cu, 72.5,000 ounces Au, 3.77Moz Ag, 22.9,000t Pb, and 24.9,000t zinc.

Alongside that is an updated MRE for Southern Nights – another polymetallic deposit being investigated for underground mining potential.

This now contains 9.99Mt at 0.35% Cu, 0.41 g/t Au, 52 g/t Ag, 1.19% Pb, and 2.78% Zn.

Peel developed the MRE upgrade for its open pit at Wagga Tank from a new block model at $A40/t and $60/t net smelter return cut-offs within an optimal pit shell.

Meanwhile, the underground component is based on the January 2023 mineable shape constrained Southern Nights-Wagga Tank MRE at A$80/t NSR cut-off depleted by the new Wagga Tank pit shell with no other changes to the resource model or optimal stopes.

Technical director Rob Tyson said the achievement of this MRE upgrade was an important milestone for Peel – it should now enable the company to begin open pit operations outside of what had already been planned for South Cobar, based on its other deposits, Mallee Bull and Wirlong.

“Delineating a pit-constrained resource at Wagga Tank is a great outcome… with approximately 21,100 tonnes copper, 72,500 ounces gold, and 3.77 million ounces silver as well as significant lead and zinc defined within open pittable depths,” he said.

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He added: “Importantly, the open pit resource has [the] potential to transform Peel’s future mine plans, offering a lower capital development cost than the pre-feasibility study work which assumes Mallee Bull and Wirlong are developed as underground mines supplying ore to a new milling complex.”

Peel shares were trading at 7.7 cents at lunch today; a 6.94% rise.

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The company signed a binding option to take on 100% of the Mozy Marsh Gold-Antimony Project in British Columbia, which has yielded assays such as 131 grams per tonne of gold and 178 g/t of silver,129 g/t Au and 353 g/t Ag, 121 g/t Au and 162 g/t Ag, and 79 g/t Au and 88.2 g/t Ag – all from Adit Level Three.

Another target, Adit Level Four, has produced assays with up to 74.3 g/t Au in quartz-stibnite veins; this has given further confidence in the project’s high-grade gold potential.

Alongside these precious metals, Mozy Marsh – which is in the Monashee Mountains within the province’s Vernon Mining Division – has also shown evidence of antimony mineralisation, through outcrops and historical adit workings.

Knowing that it’s in good territory, Equinox has increased its strategic landholding to a total of 11.4 square kilometres, adding newly staked tenements that are under application. Of particular focus is securing the project’s southern boundary and safeguarding against potential nuisance staking.

In terms of exploration activity, the company has a plan of action which includes assaying over 100 rock chip samples, conducting field surveys and geophysical work.

Managing director Zac Komur described Mozy Marsh as a “strategic, cost-effective acquisition” that would fit Equinox’s portfolio perfectly.

“It’s a high-grade, historically productive asset in a tier-one jurisdiction, enhancing our antimony focus while adding significant gold and silver upside,” he explained.

“The presence of antimony mineralisation, identified in outcrops and historical adit workings, adds even more excitement.”

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Mr Komur added: “This opens up a clear opportunity to explore what could be a valuable addition to our critical minerals strategy.”

EQN has been trading flat through Monday at 8.5cps.

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The project, based in Chihuahua, is a high-grade project that boasts multiple epithermal vein systems, plus a Foreign Estimate of 937,000 tonnes at 570 grams per tonne of silver equivalent (AgEq), yielding 17.23 million ounces AgEq.

The latter was defined by more than 16,500 metres of existing drilling; Advance aims to build on this across several targets, starting with 3,000 metres of diamond drilling at high-grade targets in the Pertenencia area.

Drill hole designs are still being finalised and will test along strike and down dip from intersections which include 1.2 metres at 1,895g/t Ag & 34.0g/t Au from 47.3m; 1.5 metres at 1,473g/t Ag & 4.0g/t Au from 100.2m; 6.2 metres 2,404g/t Ag and 17.2g/t Au from 64.8m; and 3.05 metres 668g/t Ag & 3.9g/t Au from 117.8m.

Advance has been working diligently to make sure it got approvals to progress this program of exploration, managing director Dr Adam McKinnon said.

“In particular, we have had many constructive meetings with local stakeholders and we are looking forward to having a positive impact on the community surrounding the project in the years to come,” he explained.

“With the approvals in place, we have turned our attention to confirming and extending some of the previous bonanza-grade silver and gold intersections.”

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“Our maiden drilling program will be a fantastic test of the potential upside to the existing Foreign Estimate at Yoquivo, with high-grade drilling results expected to extend over several months into the second half of the year.”

AVM shares have been trading at 3.9 cents through Monday.

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This is based on a cutoff grade of 0.21% Cu.

Additionally, the West Cobar project’s copper-antimony-silver mineralisation is open along strike and down dip, and WC1 has been able to set an exploration target of 30Mt to 50Mt of 0.47% to 0.66% Cu equivalent – or 0.23 to 0.33% Cu and 0.08 to 0.12% Sb and 4 to 6g/t Ag – alongside the MRE.

The development of this target was based on an assessment of exploration drill results and geophysical data.

Looking ahead, the company anticipates Bulla Park’s large tonnage and the thick zone (over 60m) of mineralisation will enable bulk mining methods – potentially including open pit mining – while the project’s strong metallurgical characteristics should facilitate the production of a copper-silver concentrate and a separate, saleable antimony product such as antimony sulphide.

Located in NSW’s Cobar mining district, Bulla Park has silver mineralisation based mostly on disseminated tetrahedrite with minor amounts of chalcopyrite and stibnite.

WC1 has also previously conducted metallurgical test work yielding a relatively clean copper-silver concentrate and a separate antimony product, with no significant contaminant minerals present apart from arsenic, which can then be removed separately during the leaching process.

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This included recoveries of 94.6% copper, 82.6% antimony, and 84.1% silver to date, but further testing is expected to improve these.

WC1 has been trading at 1.5 cents.

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Assays from a first pass reverse circulation drilling program picked up broad zones of mineralisation, including 30 metres at 0.58 grams per tonne (g/t) of gold (Au), 57g/t of silver (Ag) from 34m, including 4m at 2.01g/t Au, 201g/t Ag, 4.14% Zn, 1.93% Pb from 38m (25TTRC004); plus 8m at 0.87g/t Au, 63g/t Ag from 72m.

The program comprised seven holes for 641 metres, from which 17 significant intersections showing better than 0.5g/t of gold were returned.

Additionally, most mineralisation intersected less than 30 metres from surface.

“The gold-silver intersections demonstrate the potential for a larger oxide system at Tigertown,” managing director Dr Damien Keys declared, adding much more drilling would soon be progressed at the site.

“Our best result is our shallowest significant intersection. Drilling has now refined our geological model and will allow us to target the near-surface gold-silver more effectively.”

Sunshine is now planning to focus on these near-surface extensions to better delineate the gold and silver mineralisation there.

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He continued: “Tigertown is just one of the shallow targets we will be testing in early 2025. Drilling will test other targets Liontown (oxide extensions), Liontown West, Coronation, and Plateau as we rapidly pursue our shallow oxide strategy.”

Sunshine Metals last traded at 0.7cps today after a 12.5% fall in value.

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Magnum will buy the Parker Gold Project in Western Arizona, which has been “recognised for large tonnage copper and gold potential.”

Surface rock samples revealed up to 83.87 grams per tonne of gold, 359g/t of silver, 8.37% copper, and 16.1% lead, with visible gold spotted in some samples.

The project is in a district already hosting gold and copper producers – but no modern exploration has been done on its prospects.

“While records are sparse and production poorly defined, ores delivered to the smelter during a second phase of mining in 1941-42 held approximately 6 to 7 grams per tonne of gold and 2.3% copper,” the company told investors today.

“The Parker Gold Project has promising exploration potential for gold-copper discovery.

“Crucially, recognition of the possible presence of an IOCG [iron oxide copper gold] mineralisation model opens up the tonnage potential in the area.”

MGU will also be acquiring the Mormon Canyon copper, gold and silver project in north-eastern Idaho, which has more than 4km of strike length with minimal past drilling.

The project has drill-ready targets and historical grades of up to 3.32g/t gold and 4.72% copper. The company says there are 4.4 square kilometres of untested vein systems and Mormon Canyon is close to critical infrastructure.

The Parker and Mormon Canyon projects will cost Magnum $200,000, divided into four equal instalments to Monomatapa. MGU has already started due diligence with a field program to confirm and expand historic exploration.

Magnum will also acquire 100% of EV Resources Inc., which holds the La Cienega Gold Project in La Paz County, Arizona. This project is in the Buckskin Mountains; old copper mine workings and several outcrops have been documented on a mineralised trend covering a 2.5km strike.

The cost is a 2% net smelter return royalty to EVR for minerals produced from the La Cienega Gold Project in the U.S.

In other company updates, Magnum claims U.S. tariff risks spur renewed interest in Magnum’s Buena Vista Magnetite Iron Project in Nevada.

“The speculated imposition of import tariffs being applied to U.S. mineral imports has triggered a renewed interest in domestic mineral resources,” the company told investors.

“Magnum is investigating strategies that may capitalise on this appetite for home-sourced commodities. These include, but are not limited to project proposal realignments, possible consolidation plays, and joint venture opportunities.”

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Elsewhere, Magnum is continuing due diligence around its green iron Hismelt project in Saudi Arabia and is completing due diligence for a proposed acquisition of the Azimuth and Palmares REE projects in Brazil.

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The gallium was in the form of gallium trioxide (Ga2O3), with the review revealing previous intersections such as 23 metres at 168g/t Ga2O3, 0.72% copper, 0.54% vanadium, 53.97% lead, and 1.8g/t Ag from four metres.

Where high-grade gallium appears in these intersections – in association with copper, vanadium, lead, silver, germanium, and antimony – occurs from near the surface to depths of 50 metres, and is associated with an uncovered “saprolite zone” which also hosts vanadium, copper, lead and silver.

This zone is open to the east and west with potential for expansion through drilling.

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Additionally, Golden Deeps has also found a bulk sample excavated from the surface which featured 102g/t Ga2O3, 8.75 Cu, 1.7% Pb, and 27g/t Ag. Following this, the company is now pursuing metallurgical test work to find out how antimony, gallium, and germanium recoveries can be optimised.

GED has been trading at 1.9 cents on Wednesday.

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The fieldwork will concentrate on high-priority targets identified through hyperspectral imagery and desktop geological studies completed by Dahrouge Geological Consulting USA Ltd and Dirt Exploration.

The program getting underway represents “a key step in progressing the project potential for gold and silver mineralisation,” executive director Fadi Diab said.

According to these studies, the project holds several zones containing spectral signatures associated with antimony (stibnite), sulphur, illite, and hydrogen anomalies, indicative of potential silver, antimony, and gold mineralisation.

Mr Diab said: “The integration of advanced satellite imagery, historical data, and field validation is aimed at prioritising targets for potential follow-up work.

“We look forward to sharing updates with shareholders as soon as results are available.”

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Samples collected will be subjected to initial scanning and sorting in the field using a handheld XRFanalyser, with selected samples to then be dispatched to the laboratory for detailed geochemical analysis.

Bayan has been selling at 3.9 cents in early Friday trade.

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On March 25, Errawarra agreed to acquire a 70% interest in the Elizabeth Hill mining and 70% of all silver rights across the rest of the area – which spans 180 square kilometres – including exploration licences and mining licences.

The company’s geologists are now on-site in WA’s Pilbara region and will commence looking for high-priority silver targets for testing. These are expected to be associated with the historic mine, as well as regional targets.

“We have now confirmed our commitment to hit the ground running at Elizabeth Hill with our geological team already mobilising,” Bruce Garlick, executive director, said.

The Errawarra boss then declared: “Commencing works immediately is a testament to the value opportunity we see at Elizabeth Hill.”

Work so far has included relogging of historical drill holes and PXRF analysis of the core.

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“Exploration for additional Elizabeth Hill silver occurrences has been long overdue and our initial planned exploration activities including mapping, soil sampling, geochemical analysis of historical drill material is aimed at defining high priority targets for our planned upcoming maiden drill programme.”

Errawarra has been selling at 0.6.3 cents in early trade today.

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The deposit – part of Aeris’ Tritton package in central NSW – now comprises 7.6 million tonnes (Mt) at 2.01% Cu (copper), 0.66 grams per tonne (g/t) Au (gold), and as much as 2.5g/t Ag (silver).

Altogether, this yields 153,000t Cu metal, 161,000oz (ounces) Au metal and 608,000oz Ag metal – representing the company’s increases noted above.

And what’s more exciting for Aeris is the increase in indicated resource: This is now set at 5.3Mt at 1.75% Cu, 0.66g/t Au, and 2.7g/t Ag – or 94,000t Cu metal, 112,000oz Au metal, and 462,000oz Ag metal.

This signifies a 279% increase in contained copper metal and a major 333% increase in contained gold metal compared to the previous MRE.

The company is banking on this providing support for conversion to probable ore reserve.

Executive chairman Andre Labuschagne said the overall result for this deposit boded well for the development of Tritton more generally.

“This is a great outcome for Aeris and confirms our confidence in Constellation becoming a major ore source for Tritton,” he said. “Focus will now turn to completing the feasibility study on the deposit and declaring a maiden ore reserve.”

He added having more than 5Mt in the indicated status meant Aeris could build towards the latter with confidence. “The updated MRE features a substantially larger open-pittable deposit, potentially transforming Tritton’s future mine plan outlook,”

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“This expansion could support a significantly longer life open pit operation than initially anticipated, with potentially 3.2Mt of feed to the Tritton mill grading more than 2.5% copper and 0.8g/t gold.”

At 2:04pm, Aeris shares were trading at 18.5 cents.

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