Aurelia Metals Limited (ASX: AMI), an Australian mining and exploration company operating three underground base metal mines in the Cobar Basin, New South Wales, today announced its annual Mineral Resource and Ore Reserve Statement and updated Production Targets. The company reported significant growth in its overall resource base, with Group Mineral Resource estimates climbing 6% to 30.6 million tonnes (Mt) and Group Ore Reserves increasing substantially by 49% to 8.2 Mt following depletion. The Group Production Target also saw a 7% rise to 9.2 Mt, accompanied by a higher average Net Smelter Return (NSR) of A$330 per tonne.
The Peak Operation is emerging as the group’s copper-gold cornerstone, with its underground Mineral Resource expanding by 3% to 21.4 Mt and Ore Reserves rising 22% to approximately 4.1 Mt. Its Production Target also increased by 25% to around 6.4 Mt, highlighting significant expansion potential, particularly at Great Cobar. Meanwhile, the Federation Mine’s Mineral Resource estimate now defines a higher-grade base metal deposit, featuring 14.7% lead and zinc (up from 12.1% in 2025) from more constrained tonnes. While Federation’s Production Target decreased by 20% to 2.8 Mt, its average NSR improved from A$300/t to A$360/t, reflecting a focus on higher-grade material.
A key addition to the company’s portfolio is the New Occidental Tailings project, reporting a maiden Mineral Resource of 2.6 Mt at 0.65 grams per tonne gold and an Ore Reserve of 2.3 Mt at 0.64 g/t gold. This material is slated for processing through the Peak plant, with a Feasibility Study underway for the first half of FY27. Interim Chief Executive Officer Martin Cummings commented, “The updated Mineral Resource and Ore Reserve inventory provides the foundation for a long life operation in the Cobar Basin. Peak remains the cornerstone of our business, underpinned by a growing copper and gold Resource base, while Federation continues to evolve as a high-grade ore source, providing operational flexibility and growth opportunities.” He reiterated the company’s focus on converting this strategic resource base into profitable production and growing shareholder returns. Inferred Mineral Resources constitute 19% of the overall Group Production Target.
