AIC Mines grows Jericho copper deposit with new mineralisation discoveries

AIC Mines (ASX: A1M) has continued to expand the known mineralisation at its Jericho copper deposit in Queensland.

The Jericho deposit is located 4 kilometres south of the company’s Eloise copper mine and processing plant.

The company has stepped up drilling at Jericho since announcing in May that it had approved development of the Jericho mine via an underground link drive directly from the Eloise decline.

Increased mine life

“The more we drill at Jericho, the more we learn and the bigger it gets,” managing director Aaron Colleran said.

“These recent results have the potential to materially increase the mine life at Jericho and also improve the mining schedule in the early years of the operation.”

Mineralisation at the deposit has now been traced over an impressive 5km of strike length, which commences approximately 50m below surface and extends to a vertical depth of 550m—the current limit of drilling.

Multiple programs

Meanwhile, resource step-out drilling at the Jericho North area has extended the copper deposit northwards.

Exploration drilling is also underway at the Jericho South and Roberts Creek targets.

Drilling at Jericho South is testing geophysical targets immediately south of the Jericho copper deposit, while regional exploration at Roberts Creek is following up historical results.

Wide-spaced step-outs

Seven diamond drill holes for 3,096m were completed at Jericho from the resource limits of Matilda north toward Swagman and to the south of Jumbuck.

Three holes were completed on 200m spaced lines to test for the continuation of mineralisation to the north and a fourth hole was completed to test the northerly plunge of the Matilda Shoot, with all holes intersecting copper mineralisation.

The program was successful in extending the J1 Lens a further 500m north of the Matilda mineral resource limits and it remains open just 500m short of the Swagman Shoot position.

J2 Lens intersection

Although the grade was predominantly of low tenor, mineralisation was also intersected in the J2 Lens position in all holes, indicating that it, too, continues in parallel with J1 toward the Swagman Shoot.

The previously untested Jericho South target was assayed by three wide-spaced step-out holes following up ground electromagnetic conductors defined by a survey completed in late 2023.

Mr Colleran said that due to the very wide-spaced nature of drilling, there is potential to define further resources.

Development studies

Mining studies completed earlier this year comparing two scenarios for accessing the Jericho deposit – an underground link drive from Eloise versus a covered box-cut and portal at Jericho – have clearly shown that underground is the better option.

The 3km link drive, which will take off from the Eloise decline at 125m below surface, is expected to be completed over approximately 24 months and to reach first development ore in June 2026.

The mining team at Eloise has already commenced preparations for the operation, with new ground support installed and geotechnical drilling underway.