Aeris Resources Limited (ASX: AIS), a mid-tier base and precious metals producer with a copper-dominant portfolio, has announced that it has received Development Consent from the NSW Department of Planning, Housing and Infrastructure for its Constellation Project. The approval marks a crucial step forward, enabling the project to advance toward development.
The Constellation Project is situated in the Cobar Basin Region of New South Wales, approximately 45 kilometres north-east of the Tritton Processing Plant. According to the company’s estimates, the open pit Ore Reserve includes 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. The Total Mineral Resource Estimate for the project stands at 7.6 Mt @ 2.0% Cu, 0.7 g/t Au, and 2.5 g/t Ag.
Andre Labuschagne, Executive Chairman of Aeris, stated that receiving development consent is a key milestone for the Project. He added that this achievement, combined with the recently declared Open Pit Ore Reserve, positions the Constellation Project strongly to become the next major ore source for Tritton in the near term. Labuschagne also thanked the NSW Government for its continued support.
The company noted that Aeris Resources has a strong pipeline of organic growth projects, an aggressive exploration program and continues to investigate strategic merger and acquisition opportunities.
