Aeris Resources Limited (ASX: AIS) has announced a Maiden Open Pit Ore Reserve Estimate for its Constellation Project, located in the Cobar Basin Region of New South Wales. Aeris Resources operates the Tritton Copper Operations with ore sourced from surrounding deposits on Aeris tenements and transported to Tritton for processing. The Constellation Project represents a proposed new ore source within this operating framework, extending the life of the existing Tritton infrastructure.
The Maiden Ore Reserve Estimate (ORE) is derived from the recently reported Constellation Mineral Resource Estimate (MRE) and is based on technical and economic analyses completed as part of Pre-Feasibility Studies (PFS) for initial open pit mining options. The estimate reports only mineralisation classified as Indicated Resource in accordance with the JORC Code (2012 Edition).
The estimate details a Probable Ore Reserve of 2.3 Mt @ 2.0% Cu, 0.6 g/t Au, 3 g/t Ag, containing 47 kt Cu, 49 koz Au, and 228 koz Ag. This Ore Reserve supports a 5-to-7-year open pit mine life, with potential for future optimisation and expansion into an underground operation targeting the remaining Mineral Resource at depth. The pit design underpinning the Ore Reserve includes 0.6Mt of Inferred Resource which is not included in the Ore Reserve but is planned to be drilled prior to mining with the objective to upgrade this material into Indicated status.
Further studies are underway to assess the deeper portions of the Constellation mineralisation for potential underground mining opportunities. The oxide and primary ore included in this Ore Reserve is planned to be processed through the Tritton processing plant, leveraging existing infrastructure to reduce capital intensity and improve project economics.
