Copper count climbs for AIC Mines ‘game changer’

AIC Mines has achieved an 86 per cent increase in contained copper and gold in updated ore reserve estimates for Jericho, hailed as a 'game changer' for the future of the nearby Eloise operation. Jericho ore reserves now total 3.2Mt grading at 1.9 per cent copper and 0.4g/t gold, containing 61,100 tonnes of copper and 37,000 ounces of gold. AIC Mines managing director Aaron Colleran said the company had barely owned the deposit for a year and in this time had significantly increased the mineral resource and ore reserve, completed mining studies, environmental studies, metallurgical testwork plus an Eloise expansion study. "Why are we pushing so hard, moving so quickly? Simple, Jericho is a game changer for Eloise," he said. "It provides a pathway to expanding annual production at Eloise to over 20,000t of copper and 10,000oz of gold in concentrate. "Mining at Jericho will be lower cost than Eloise as it is much shallower, commencing below only 50m of cover. Plan showing the location of Eloise and Jericho mineral resources. "Expansion of the Eloise processing plant will reduce operating costs through economies of scale and smarter equipment. "Jericho de-risks production by increasing the number of available ore sources. "The world needs more copper as we transition away from fossil fuels. We are focused on delivering into that demand.” The Jericho copper deposit is located 4km south of the Eloise copper mine and processing plant. Jericho currently has a strike length of 2.3km and has been drilled to a vertical depth of 550m below surface. Mineralisation occurs in two parallel lenses – J1 and J2. Higher grade shoots, namely Matilda, Squatter, Jumbuck and Billabong, exist within these lenses. The mineralisation remains open along strike and at depth. AIC said the increase in ore reserves was predominantly due to drilling focused along the J1 Lens, where 22,400 tonnes of copper and 14,300 ounces of gold were added. Related: Jericho drilling delivers for AIC Mines Further drilling is required on the less advanced J2 Lens, where only 5900 tonnes of copper and 2800 ounces of gold have been added. The ore reserves are based on a detailed underground mine design consisting of a single surface boxcut and three underground declines, with a southern decline accessing the Jumbuck zone and two northern declines accessing the Matilda zone. You might also like: https://industryqld.com.au/aic-mines-switched-on-to-fuel-saving-tech/

Copper count climbs for AIC Mines ‘game changer’

Industry Queensland

Related News

APA advances plans to extend Mount Isa solar development

Quick fire – industry news briefs

Carnaby forges ahead with Greater Duchess work

Get access to breaking mining news, now.