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Aeris Resources Boosts Mineral Resource, Ore Reserve Estimates Following Acquisition of Two Deposits; Shares Gain 3%

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Aeris Resources (ASX:AIS) reported a 24% increase its group mineral resource, which is now estimated at 61 million tonnes, following the incorporation of resources at its recently acquired Mallee Bull and Wirlong deposits in New South Wales, according to a Thursday filing with the Australian bourse.

The mineral resource estimate contains 950,000 tonnes of copper, 1.4 million ounces of gold, 1.1 million tonnes of zinc, and 43 million ounces of silver, per the filing.

The company also reported a 50% increase in its group ore reserve, which is now estimated at 21 million tonnes containing 350,000 tonnes of copper, 470,000 ounces of gold, 340,000 tonnes of zinc, and 13 million ounces of silver.

The inclusion of the Mallee Bull and Wirlong projects "made a material contribution to the increase in reserves and resources" alongside "significant increases" at the company's Cracow and Tritton operations, Aeris Executive Chairman Andre Labuschagne said.

The company's shares gained 3% in recent Thursday trade.

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