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Aeris Resources Ltd.

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Summary

Project:

Tritton

Deposit:Budgerygar
Location:Australia
Commodities:Copper-Gold-Silver
Date:10/1/2019
Report Code:JORC
Report Type:Resource Estimation
Project Stage:Active Mining & Production
Report details:1-10-2019: Aeris Resources Ltd. announces a Resource Estimation report for its Budgerygar deposit at the Tritton project. Updated mineral resource estimate for the Budgerygar deposit. The Budgerygar deposit is a sulphide copper mineralised body located on
Resources:(Resource, Inf.): 2.3Mt @ 1.5% Cu, 0.2g/t Au, 5.2g/t Ag at Budgerygar
CP/QP:[Resources]: Brad Cox (Internal)
ABSTRACT:The Budgerygar deposit is a sulphide copper mineralised body located on ML1544 in central New South Wales (NSW), Australia. The deposit geology has historically been described as a Besshi style volcanic associated massive sulphide (VMS) occurrence. This opinion on deposit genesis has changed. We now describe the deposit as a structurally controlled intrusive sulphide body. The different geological interpretation results from reviewing many sulphide occurrences within the Tritton Resource tenement package that all show a strong structural control with copper mineralisation associated with late stage deformational events within the sedimentary host rock. The Budgerygar deposit contains potential economic grades of copper, gold and silver. The gold and silver value in the mineralised domains are modest and the economics of the Tritton mine are dominated by copper metal production. This Mineral Resource estimate is an update on previously reported Mineral Resource estimates for the Budgerygar deposit. The 2019 estimate is based entirely on an updated geological model using the same drillhole data which informed the previous resource model. The Budgerygar Mineral Resource is reported as an Inferred Mineral Resource under the JORC 2012 guidelines.

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