AIC Mines Intersects High-Grade Gold at Eloise South and Defines 1.5km Iris Copper Zone

AIC Mines (ASX: A1M) has confirmed extensive copper mineralisation at the Iris prospect and intersected high-grade gold at Eloise South, with both targets located within five kilometres of its operating Eloise copper mine in North Queensland.

The first two of a planned six-hole Iris program have helped define anomalous copper and gold mineralisation across a 1.5km strike length, including a standout intersection of 12 metres grading 1.0% copper and 0.3 grams per tonne gold from 227m.

A separate hole at Eloise South returned 3.2m grading 92.5g/t gold from 446.4m, including 1.2m at 249g/t gold, with estimated true widths (ETW) of 2.3m and 0.9m respectively.

Further drilling is planned at both prospects during the current field season as AIC tests extensions to the identified mineralisation.

Expanded Iris Copper Zone

Iris is located 5km north of the Eloise mine and processing plant, where the current program is following up earlier drilling and testing whether higher-grade copper mineralisation continues along strike and within interpreted plunging shoots.

The second new hole produced 12m, or 8.4m ETW, grading 1.0% copper and 0.3g/t gold, including 2m at 4.4% copper and 1.5g/t gold, while the first hole returned separate intervals of 1.8m at 1.1% copper and 7.7m at 0.7% copper.

Drilling has now traced mineralisation from about 50m below surface to approximately 400m vertical depth, with the system remaining open to the north, south, and at depth.

The prospect—which lies on the same splay of the Levuka Shear that hosts the Jericho copper deposit—has a comparable setting of altered metasediments beside amphibolite intrusions, supporting AIC’s interpretation that high-grade shoots may occur within broader mineralised lenses.

“These are outstanding results and reflect the exploration team's growing understanding of the regional controls on copper and gold mineralisation across the Eloise district,” managing director Aaron Colleran said.

Gold Target Gaining Momentum

Eloise South sits 2km south of the Eloise mine, where two recent diamond holes followed anomalous results from the 2025 field season and tested a west-dipping mineralised lens.

The high-grade gold intersection occurred in a stockwork of quartz-sulphide veins at the down-dip contact between arenite and biotite schist after the hole first intersected 0.4m grading 0.6% copper at the interpreted mineralised structure.

Downhole electromagnetic surveying identified a conductive unit that correlates with the gold mineralisation, giving AIC a defined target for planned follow-up drilling.

The company is also continuing work at Iris to target interpreted shallow north-plunging high-grade shoots, with four holes remaining in the current program.

The exploration remains at an early stage and there is insufficient work to define a mineral resource at either prospect, leaving future drilling to determine the continuity and scale of the mineralised systems.