AIC Mines Reports 3.8% Copper and 3.5g/t Gold at Eloise South Prospect

Exploration Progress at Eloise Regional

AIC Mines Limited (ASX, A1M) has provided a comprehensive update on its exploration activities at the Eloise Regional Project in North Queensland. The company drilled eight prospects during the second half of 2025, targeting both previously identified prospects and new high-priority geophysical anomalies. The results underscore the potential for significant mineral discoveries in close proximity to the operating Eloise copper mine and the Jericho copper deposit.

High-Grade Intersections at Eloise South

At the Eloise South prospect, located just 2 kilometres south of the Eloise mine, drilling returned notable high-grade gold and copper mineralisation. A single hole (ESDD005) intersected 1.0 metre grading 3.5 grams per tonne gold from 164 metres depth and 2.0 metres grading 3.8% copper from 401 metres. These results build on earlier drilling and suggest the mineralised trend remains open at depth and along strike, warranting further drilling to delineate the extent of the mineralisation.

Encouraging Copper Anomalies at Arlington and Defiance

Drilling at the Arlington and Defiance prospects confirmed the presence of copper anomalism associated with massive sulphide breccias, characteristic of the Iron Sulphide Copper Gold (ISCG) style deposits found in the region. The Arlington prospect, in particular, showed multi-metre intervals of sulphide mineralisation, supported by strong conductive responses identified in recent geophysical surveys. Similarly, the Defiance prospect returned 8 metres grading 0.2% copper and 0.2 grams per tonne silver near surface, with geophysical data indicating stronger conductors at depth.

New Structural Target at Kevin Downs South

One of the most significant outcomes was the confirmation of the Kevin Downs South Shear Zone through drilling. This regionally extensive fault zone is interpreted as a potential conduit for mineralising fluids, analogous to the Levuka Shear Zone that hosts the Eloise and Jericho deposits. The drill hole intersected a broad fault zone with disseminated chalcopyrite and pyrite, including an interval grading 0.3% copper and 0.8 grams per tonne silver, indicating hydrothermal activity and mineralisation potential.

Geophysical Surveys Support Exploration Upside

Complementing the drilling results, Audio Frequency Magnetotelluric (AMT/MT) surveys have mapped continuous conductive features beneath known mineralisation and at several prospects. These geophysical signatures highlight potential sulphide mineralisation at depth and along key shear zones, guiding future drilling programs. The company plans to continue exploration in 2026, focusing on expanding and upgrading these targets with the aim of making transformational discoveries that could materially impact production at the Eloise mine.

Outlook

Managing Director Aaron Colleran described the results as pleasing, noting the unusually high success rate in upgrading four out of eight prospects tested. The company’s high bar for transformational discoveries reflects its ambition to significantly enhance its resource base and production profile in the near term.