AIC Mines has announced an updated mineral resource and ore reserve estimate for its Eloise and Jericho copper projects in North Queensland, representing the largest resource base available in its 30-year history.
The combined mineral resources for the Eloise project have increased 10 per cent t0 31.2 million tonnes grading two per cent copper and 0.4 grams per tonne (g/t) gold containing 631,800 tonnes of copper and over 445,000 ounces of gold.
This represent a 12 and nine per cent uplift respectively.
Resource extension drilling at Jericho has also demonstrated additional resource and has also showcased strong geological continuity and that the orebody remains open along strike and at depth.
Recent underground development at Jericho has also confirmed that the mineralisation style and geotechnical conditions are consistent with the geological model, materially reducing mining and ramp-up risk.
“Resource definition and extension drilling completed in the 2025 field season has increased resources and improved reserves at both Eloise and Jericho – again highlighting the quality of these deposits and the strong geological, geophysical, geochemical and structural understanding that our exploration and geology teams have developed,” AIC Mines managing director Aaron Colleran said in a statement.
“It is a great time to own a copper mine, as global demand for copper is surging due to the rapid expansion of renewable energy, electric vehicles, and AI infrastructure projects.”