Encouraging signs at Eloise copper mine
The company said the definition drilling had returned excellent results and supported near-term production forecasts for the North-West Queensland site.
They included 12.2m grading 5.9 per cent copper and 1.9g/t gold and 7.8m grading 6.8 per cent copper and 0.9g/t gold.
“This early confirmation of the tenor of the Deeps mineralisation supports our commitment to accelerate exploration at Eloise,” AIC managing director Aaron Colleran said.
“AIC’s exploration strategy at Eloise has two objectives – to delineate extensions to the known resource areas and to discover satellite deposits within the Eloise mining tenements.
“During our due diligence review we recognised a clear opportunity to extend the mine life well beyond five years. We are confident that we can add significant value at Eloise as we ramp-up exploration.”
AIC Mines took ownership of the Eloise copper mine, 60km south-east of Cloncurry, this month after completing a $27 million acquisition deal with FMR Investments.
AIC plans to mobilise a second underground diamond drilling rig to site early in the new year.
The man killed at the Curragh coal mine near Blackwater at the weekend has been identified as experienced dragline operator Clark Peadon.Mine owner Co...