Aeris Resources has seen its ore production increase by 20 per cent and its mined copper grade improve to 1.89 per cent in the June quarter.
This increase was primarily driven by higher volumes from the Avoca Tank and Budgerygar mines, with grade rising from the 1.71 per cent achieved in the prior quarter.
Aeris produced 10,200 tonnes of copper equivalent at an all-in sustaining cost of $5.45 per pound during the June quarter. This was up from the 9100 tonnes produced the quarter before.
The Tritton copper operations in Queensland performed particularly well in the 2023–24 financial year (FY24), achieving copper equivalent production of 19,700 tonnes across the 12 months.
The Aeris board has approved the Murrawombie pit cutback project, with tenders for the open pit mining contract currently being submitted. The project is expected to commence in November 2024, with an estimated 1.2 million tonnes of additional ore to be supplied to the mill over the next two financial years.
Aeris said its strong operational focus and strategic investments in exploration and development have positioned it well for continued growth.
The June quarter saw Aeries conduct metallurgical testwork at the Stockman project in Victoria and complete underground drilling at the Western Vein Field prospect at the Cracow operations in Queensland, targeting high-grade mineral zones.
As part of this, Aeris targeted the Apollo and Coronation West structures at Cracow, with a series of six drill holes aimed to extend known high-grade mineralisation at Apollo.
The company’s continued drilling efforts in this area will be crucial in defining and expanding the resource base at Cracow, potentially leading to further discoveries and increased production capacity.
Aeris Resources continues to advance a restart study for its Jaguar operations in Western Australia, while feasibility work is progressing at the Stockman project, with an improvement in metal recoveries set to enhance the overall economics of the Stockman project.
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