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Copper|Exploration|Gold|Infrastructure|Mining|PROJECT|Proximity|Resources|Underground|Drilling|Infrastructure
Copper|Exploration|Gold|Infrastructure|Mining|PROJECT|Proximity|Resources|Underground|Drilling|Infrastructure
copper|exploration|gold|infrastructure|mining|project|proximity|resources|underground|drilling|infrastructure

Eloise’s Lense 6 exceeding expectations, says AIC MD

22nd November 2023

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

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The Lens 6 deposit at the Eloise mine, in Queensland, has exceeded all expectations since its discovery in September last year, and is expected to have a material impact on the copper project’s economic and mine life, resources company AIC Mines said on Wednesday.

Announcing a mineral resource estimate update for the deposit, the company stated that Lens 6 mineralisation was very high grade, continuous and easily accessed from current development at Eloise.

The mineral resource, now 1.1-million tonnes, grading 3.1% copper and 0.8 g/t gold, increased to 43 200 t of contained copper and 27 100 oz of contained gold, representing a 74% increase in copper and 56% increase in gold, compared with the December 2022 estimate.

Lens 6 ore reserves are now at 0.8-million tonnes, grading 2.8% copper and 0.7 g/t gold, for 22 300 t of contained copper and 18 100 oz of contained gold. This is more than double the December estimate.

“This interim mineral resource and ore reserve update is part of our decision to fast-track production from Lens 6 given its high reserve grade – 2.8% copper and 0.7 g/t gold – and proximity to current development,” said MD Aaron Colleran.

AIC noted that Lens 6 mineralisation remained open up and down dip. The firm currently has two drill rights underground at Eloise – one rig dedicated to exploration drilling to the east and west of the mine workings, the other focused on mineral resource and ore reserve definition drilling.

Underground development into Lens 6 started in September from the z275 and z305 Levels and first development ore was mined in October. A total of 157 m of access and ore development has since been completed.

Being immediately adjacent to active mine workings, no new capital infrastructure is required for Lens 6 development and production.

The Lens 6 mining method will be a bottom-up modified Avoca method upwards from the z305 and longitudinal sublevel caving method downward from z305 post completion of the upward sequence.

Stoping in Lens 6 is due to start in the June 2024 quarter.

Edited by Creamer Media Reporter

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