AIC Mines Drills Up to 4.0% CuEq at Jericho’s Jolly Shoot Ahead of Schedule

Jericho’s Jolly Shoot, A Game Changer for AIC Mines

AIC Mines has delivered encouraging drilling results from its Jericho copper deposit in Northwest Queensland, confirming the continuity of high-grade mineralisation at the Jolly shoot. This discovery, first identified in late 2024, has rapidly gained strategic importance due to its proximity to the Jericho access drive, which is now expected to intersect the Jolly shoot as early as the March 2026 quarter; approximately six months ahead of initial plans.

The recent seven-hole resource definition drilling program revealed significant copper grades, with highlights including intervals grading up to 3.1% copper combined with gold and silver credits, translating to copper equivalent grades as high as 4.0%. These results not only validate the mineralisation continuity but also suggest a straightforward ramp-up path for mining operations at Jericho.

Expanding the Resource Base, The J0 Lens

Alongside the Jolly shoot, drilling intersected the newly defined J0 lens located about 100 metres west. Early results from four holes indicate promising mineralisation with copper equivalent grades around 2.0%, and this lens remains open along strike and at depth. The J0 lens adds a valuable dimension to Jericho’s resource potential, offering additional options for mine development close to the Eloise processing plant.

Processing Capacity and Production Outlook

The Eloise copper mine, located just 4 kilometres north of Jericho, currently operates at an annual production rate of approximately 12,500 tonnes of copper in concentrate. The Eloise processing plant has spare capacity to immediately treat early Jericho material, which bodes well for a smooth transition into production. Early mining from the Jolly shoot will allow AIC Mines to build a stockpile ahead of the planned processing plant expansion targeted for completion in December 2026, aiming to increase copper output to around 20,000 tonnes per annum.

Managing Director Aaron Colleran highlighted the strategic advantage of accessing the Jolly shoot early, emphasizing that it accelerates Jericho’s ramp-up timeline and leverages existing infrastructure efficiently. The company is also planning further underground drilling in the March 2026 quarter to better define higher-grade shoots within both the Jolly and J0 lenses.

Looking Ahead, Opportunities and Challenges

While these drilling results are promising, AIC Mines acknowledges that copper equivalent grades are illustrative and subject to metallurgical recoveries and market conditions. The Jericho deposit remains open for expansion along strike and at depth, and ongoing exploration will be critical to unlocking its full potential. The company’s ability to maintain development momentum and successfully integrate Jericho production with Eloise’s operations will be key to delivering on its growth ambitions.