Canbelego JV

Aeris Resources Limited, through its subsidiary company Tritton Resources Pty Ltd, holds a 30% interest in the Canbelego Project (EL 6105), a joint venture ( JV) with Oxley Resources (70% interest), a subsidiary company of Helix Resources (ASX:HLX). EL6105 is approximately 45kms west of Tritton processing facility. Exploration activities and management of the Exploration Licence are completed by Helix Resources, our joint venture partner.

Within the exploration licence, the most advanced of several projects is the Canbelego deposit. Copper mineralisation at Canbelego occurs from surface to approximately 300 metres below surface. Copper mineralisation within the primary sulphide horizon is associated with chalcopyrite, forming a range of sulphide textures including disseminations, stringers, veins and semi to massive accumulations. The mineralised system remains open along strike (north and south) and down plunge. There has been some drilling completed previously, the most recent in 2012.

Exploration activities and management of the exploration licence are undertaken by our JV partner. Within the exploration licence the most advanced project is the Canbelego deposit. Copper mineralisation at Canbelego has been traced from surface to approximately 300m below surface. Copper mineralisation within the primary sulphide horizon is associated with chalcopyrite, forming a range of sulphide textures including disseminations, stringers, veins and semi to massive accumulations. The mineralised system remains open along strike (north and south) and down plunge.

During FY2022, drilling was undertaken to test the down plunge continuation of the mineralised system at Canbelego. Sulphide mineralisation was intersected in a number of holes, extending the high-grade copper lens. Drilling was also undertaken immediately west of the Canbelego deposit. Several new parallel copper trends were discovered with further drilling planned to test the extents of the mineralised trends.