AIC Mines reports significant increase in Jericho Ore Reserves

AIC Mines Limited (ASX: $A1M) is pleased to announce a significant increase in the Jericho Ore Reserves. The updated Ore Reserve estimate for its 100% owned Jericho Copper Deposit, located 4 kilometres south of the Company's Eloise Copper Mine, now totals 3.2Mt grading 1.9% Cu and 0.4g/t Au containing 61,100 tonnes of copper and 37,000 ounces of gold. This represents an 86% increase in contained copper and an 86% increase in contained gold following the incorporation of results from the 2023 drilling program and updated mine designs. The mineralisation at Jericho remains open along strike and at depth, with ongoing drilling expected to further increase the Ore Reserves.

Executive Commentary on Jericho Ore Reserve Increase

AIC Mines' Managing Director Aaron Colleran expressed satisfaction with the significant increase in Jericho Ore Reserves, stating, 'We completed the acquisition of Jericho in January last year. We've barely owned the deposit for 12 months and in this time we have significantly increased the Jericho Mineral Resource and Ore Reserve, completed mining studies, environmental studies, metallurgical testwork plus an Eloise expansion study. It has been an incredibly busy and incredibly successful period for AIC Mines.' Colleran emphasized the strategic importance of Jericho, stating, 'Jericho is a game changer for Eloise. It provides a pathway to expanding annual production at Eloise to over 20,000t of copper and 10,000oz of gold in concentrate. The world needs more copper as we transition away from fossil fuels. We are focused on delivering into that demand.'

Summary of Jericho Ore Reserve Increase

The significant increase in Jericho Ore Reserves represents a major milestone for AIC Mines, positioning the Jericho Copper Deposit as a key asset for the company's future growth. The increase in contained copper and gold, along with the ongoing drilling activities, indicates the potential for further expansion of the Ore Reserves. AIC Mines' Managing Director Aaron Colleran highlighted the strategic importance of Jericho in expanding annual production at Eloise and meeting the increasing global demand for copper. The company's focus on delivering into the demand for copper as the world transitions away from fossil fuels underscores its commitment to sustainable resource development and future growth.