AIC Mines (ASX:A1M) Advances Copper Exploration at Jericho with Comprehensive Drilling Program

March 20, 2025 03:38 PM AEDT | By Team Kalkine Media

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AIC Mines (ASX:A1M) Advances Copper Exploration at Jericho with Comprehensive Drilling Program — Image source: Shutterstock

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Highlights

Intensive drilling campaign launched at Jericho Copper Deposit.

Significant extension of deposit strike and resource increase.

Potential transformation of Eloise into a regional processing hub.

AIC Mines (ASX:A1M) has recently started a substantial drilling project at its Jericho Copper Deposit, situated within the Eloise Regional Project in Queensland. This ambitious initiative involves around 9,000 meters of diamond drilling coupled with 2,700 meters of reverse circulation (RC) drilling. The primary focus of this extensive drilling effort is on the resource definition across several promising shoots including Matilda North, Jolly, Swagman, and Tucker.

The core objective of the drilling program is to expand the mineral resources and elevate the current inferred resources to an indicated category at the Jericho Deposit. Remarkable progress in exploration has already broadened the deposit's strike length by over two kilometers and boosted the resource estimates by an impressive 95%. The Swagman shoot, in particular, has demonstrated significant high-grade mineralization, with further plans to extend drilling activities into 2025 to explore new areas.

Aaron Colleran, Managing Director and CEO of AIC Mines, emphasized the strategic importance of the Jericho project since its acquisition in January 2023. The extension of the deposit and the substantial increase in resources signify the deposit's potential as a regionally significant find. Colleran highlighted, “Jericho is proving to be a regionally significant discovery. Since we acquired the project, we have extended the strike of the deposit by over 2 kilometers and have increased resources by 95%. Importantly, the new shoots are closer to Eloise and the underground link drive.”

He further elaborated on the transformative impact of these developments for the Eloise site, suggesting a promising future as a regional processing hub, potentially extending well into the next decade. The ongoing and future regional explorations are anticipated to not only prolong the operational life of Eloise but also enhance its production capabilities by discovering higher-grade deposits.

The current and planned exploration activities by AIC Mines at the Jericho Copper Deposit underscore the company's commitment to unlocking significant value and extending the life of its operations. With the potential to transform Eloise into a crucial regional hub, the project sets a strategic pathway for sustained growth and resource utilization in the region.

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