Jericho mining promise builds as drill results roll in

Latest drilling results add weight to AIC Mines' confidence in its Jericho deposit as it eyes its potential to support increased production and more than one mining front. AIC Mines has work underway on a $50 million link drive between its producing Eloise copper operation, 60km south-east of Cloncurry, and the planned Jericho mine site, about 4km to the south, where it expects to reach first development ore in 2026. Managing director Aaron Colleran said the drilling results released today were important, providing further confidence in the grade and width of mineralisation at the Matilda shoot, where mining at Jericho is expected to commence. They also extend mineralisation at the Jericho J2 lens and at Sandy Creek, about 20km west of the Eloise copper mine. Related: Eloise shaping up for big future says AIC Mines It comes after Mr Colleran told the company's AGM last week that recent exploration at Jericho had been far more successful than expected – raising the question of whether the planned expansion of the Eloise processing plant to 1.1Mtpa was big enough. Work since AIC acquired Jericho in early 2023 has shown the ore body to be much more strike-extensive than nearby Eloise and changed its understanding of where the centre of the ore body lies. Its work at the northern end of the deposit has improved the outlook for that area where the link drive will first intersect the ore body. "We'll have a lot more ore and a lot more stoping to do at the northern end of the deposit rather than heading immediately south," Mr Colleran said. "... So the northern end in itself now will support us for many years." The next step was to consider whether they could mine the northern end and the southern end at the same time to increase ore production, he said. "We're now considering expanding the Eloise plant to 1.5 million tonnes per annum in stages - the first stage to 1.1Mtpa and potentially a second stage to 1.5Mtpa that would be supported by two to three mining fronts. "The northern end, a central area, and the southern end of the Jericho ore body looks as though it could easily support 1.5Mtpa." He said the company had the opportunity to ensure the decisions it was making on the stage one expansion now paved the way for a streamlined second stage expansion timed to suit such a ramp up. Recent infill drilling at the Jericho project, focused on the Matilda shoot, has returned positive results including: JERC044 – 11m (7.7m ETW) grading 1.61 per cent copper and 0.19g/t gold from 200m JERC062 – 11.5m (8.6m ETW) grading 2.58 per cent copper and 0.74g/t gold from 199m JEDD058 – 9m (6.75m ETW) grading 2.20 per cent copper and 0.24g/t gold from 242m JEDD062 – 13m (9.75 ETW) grading 1.47 per cent copper and 0.26g/t gold from 317m Step-out drilling of the Jericho J2 lens has extended mineralisation to the north with results including: JERC054 – 2.95m (2.2m ETW) grading 1.66 per cent copper from 300.8m JERC056 – 6.65m (5.0m ETW) grading 1.23 per cent copper from 292m JEDD058 – 6.0m (4.5m ETW) grading 2.09 per cent copper and 0.43g/t gold from 464m Step-out drilling at Sandy Creek has extended mineralisation along strike and down plunge: SCDD007 – 2.4m (1.8m ETW) grading 2.10 per cent copper from 211.5m SCDD008 – 4.0m (3.0m ETW) grading 1.90 per cent copper and 3.09/t gold from 243m The Sandy Creek deposit remains open along strike and down-plunge to the southeast. You may also like: https://industryqld.com.au/recapitalisation-plan-to-revive-true-north-copper/

Jericho mining promise builds as drill results roll in

Industry Queensland

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