ADDENDUM TO 2024 ANNUAL REPORT
Released
Released
Announcement PDF
29 October 2024
ASX/MEDIA RELEASE
ADDENDUM TO 2024 ANNUAL REPORT
Aeris Resources Limited (Aeris) (ASX:AIS) provides this addendum in relation to its
2024 Annual Report (Annual Report) announced on 25 October 2024. The purpose
of this addendum is to provide a summary of the material changes in mineral
resource and ore reserve holdings for the current period against those holdings from
the prior period as well as an update to include additional technical disclosures
required by the ASX Listing Rules (Listing Rules).
Resources and Reserves
The Mineral Resource and Ore Reserve estimates are reported in accordance with the
guidelines of the 2012 Edition of the Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves (“JORC 2012”). The estimates are reported at 31
December 2023.
The Group Base Metals Mineral Resource has been estimated to contain 49.3 million
tonnes grading 1.7% copper, 2.2% zinc, 0.6g/t gold and 24g/t silver for 822 thousand
tonnes of copper metal, 1,065 thousand tonnes of zinc metal, 913 thousand ounces of
gold metal and 37,990 thousand ounces of silver metal. Changes to the annual 31
December 2023 Group Base Metals Mineral Resource figures in comparison to the annual
31 December 2022 figures include the following:
Tritton Operations tonnage and contained copper metal decreased by 2.5Mt and
27kt, respectively, mainly due to mining depletion and reinterpretation of the
Tritton, Murrawombie, Budgerygar and Avoca Tank deposits.
Jaguar Operations tonnage contained copper and zinc metal increased by
0.75Mt, 22kt Cu and 26kt Zn respectively, primarily due to the addition of the Jaguar
Deposit.
North Queensland Operations tonnage has remained constant based on mine
depletion at Mt Colin replaced by additional tonnes from an updated Barbara
Mineral Resource estimate.
Stockman Project Mineral Resource increased by 1Mt, mainly due to a revised
interpretation and Net Smelter Return (NSR) calculation.
The Group Gold Mineral Resource has been estimated to contain 4,900 thousand tonnes
grading 3.4g/t gold and 4g/t silver for 519 thousand ounces of gold metal and 664
thousand ounces of silver metal. The reported mineral resource remained constant for the
reporting period, with mining depletion offset by resource additions.
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The Group Base Metals Ore Reserve has been estimated to contain 13.75 million tonnes
grading 1.8% copper, 3.7% zinc, 0.8g/t gold and 30g/t silver for 245 thousand tonnes of
copper metal, 508 thousand tonnes of zinc metal, 367 thousand ounces of gold metal
and 13,619 thousand ounces of silver metal. Changes to the annual 31 December 2023
Group Base Metal Ore Reserve in comparison to the annual 31 December 2022 figures
include the following:
Tritton Ore Reserve tonnage and copper metal decreased by 1.2Mt and 14kt
respectively, predominately due to mining depletion at Tritton and Murrawombie
and the remainder due to an updated mineral resource estimate for Avoca Tank
that contains a larger portion of Inferred resource compared to the model used as
the basis for the December 2022 estimate.
North Queensland (Mt Colin) Ore Reserve tonnage decreased by 0.2Mt,
predominately due to mining depletion.
The Jaguar Ore Reserve has not been updated since the previous reporting period
(31 December 2022). Operations were suspended at Jaguar in September 2023,
and the mine was placed on care and maintenance pending restart studies (refer
to ASX Announcement “Corporate Update and FY24 Guidance” dated 2 August
2023). Production in 2023 was 233kt @ 1.2% Cu, 4.5% Zn, 0.6g/t Au and 52g/t Ag.
Ore Reserve depletion over the same period was 113kt @ 1.4% Cu, 7.3% Zn, 0.8g/t
Au and 78g/t Ag.
No change to the Stockman Project Ore Reserve.
The Group Gold Ore Reserve has been estimated to contain 360 thousand tonnes grading
3.4g/t gold for 39 thousand ounces of gold metal. The annual Group Gold Metal Ore
Reserve changes are predominately due to mining depletion.
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Notes:
Mineral Resource figures are reported using a variety of cut-off criteria suitable for each deposit.
Discrepancy in summation may occur due to rounding.
A detailed description for each Mineral Resource estimate can be referred from ASX Announcement “Group Mineral Resource and Ore Reserve Statement” dated 17th
June 2024.
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ABN 30 147 131 | Page1 977
Notes:
Ore Reserve figures are reported using a variety of cut-off criteria suitable for each deposit.
Discrepancy in summation may occur due to rounding.
A detailed description for each Mineral Resource estimate can be referred from ASX Announcement “Group Mineral Resource and Ore Reserve Statement” dated 17th
June 2024.
The Jaguar Ore Reserve has not been updated since the previous reporting period (end December 2022). Operations were suspended at Jaguar in September 2023
and the mine placed on care and maintenance pending restart studies (refer to ASX Release “Corporate Update and FY24 Guidance” 2 Aug 2023). Production in 2023
was 233kt @1.2% Cu, 4.5% Zn, 0.6g/t Au & 52g/t Ag. Ore reserve depletion over the same period was 113kt @ 1.4% Cu, 7.3% Zn, 0.8g/t Au & 78g/t Ag.
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Notes:
Mineral Resource figures are reported using a variety of cut-off criteria suitable for each deposit.
Discrepancy in summation may occur due to rounding.
A detailed description for each Mineral Resource estimate can be referred from ASX Announcement “Group Mineral Resource and Ore Reserve Statement” dated 17th
June 2024.
Notes:
Ore Reserve figures are reported using a variety of cut-off criteria suitable for each deposit.
Discrepancy in summation may occur due to rounding.
A detailed description for each Mineral Resource estimate can be referred from ASX Announcement “Group Mineral Resource and Ore Reserve Statement” dated 17th
June 2024.
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Competent Person Statements
The Annual Report (as supplemented by this addendum) (Annual Report) refers to the
estimates of mineral resources and ore reserves contained in the Group Mineral Resource
and Ore Reserve Statement as at 31 December 2023 which was announced on 17 June
2024 (2024 MROR Group Statement) and prior market announcements released by Aeris,
(Prior Reports). the Prior Reports are available from:
https://www.aerisresources.com.au/investor.
Aeris confirms that it is not aware of any new information or data that materially affects the
information included in the Prior Reports and, in the case of estimates of mineral resources
or ore reserves, that all material assumptions and technical parameters underpinning the
estimates in the Prior Reports continue to apply and have not materially changed.
The mineral resources and ore reserves statement included in the Annual Report is based
on, and fairly represents, information and supporting documentation prepared by
competent persons.
The mineral resources and ore reserves statement included in the Annual Report as a whole
has been approved by:
-
Brad Cox (Mineral Resources), who is a Member of the Australasian Institute of Mining
and Metallurgy and is a full-time employee of Aeris Resources; and
-
Cam Schubert (Ore Reserves), who is a Fellow of the Australasian Institute of Mining
and Metallurgy and is a full-time employee of Aeris Resources.
The mineral resources and ore reserves statement has been issued with the prior written
consent of Mr Cox and Mr Schubert as to the form and context in which it appears.
All competent persons have sufficient experience that is relevant to the style of
mineralisation and type of deposit under consideration and to the activity which is
undertaken to qualify as a competent person as defined in the 2012 Edition of the
Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.
Each competent person’s consent remains in place for subsequent releases by Aeris of the
same information in the same form and context, until the consent is withdrawn or replaced
by a subsequent report and accompanying consent. Aeris confirms that the form and
context in which the competent persons’ findings are presented in the Annual Report have
not been materially modified from the Prior Reports.
No New Information since reporting date
Aeris confirms that other than changes due to normal mining depletion during the 6 months
ending 30 June 2024, it is not aware of any new information or data that materially affects
the information contained in the 2024 MROR Group Statement.
Governance Arrangements and Internal Controls
Aeris reports its Mineral Resources and Ore Reserves on an annual basis by internal and
external geologists who are experienced in best practice in modelling and estimation
methods. All competent persons engaged by Aeris are suitably qualified and experienced
as per minimum acceptable requirements defined in the JORC Code 2012 Edition. The
competent persons undertake frequent reviews of the quality and suitability of underling
information used to generate resource estimates. In addition, Aeris’s management carries
out regular reviews and audits of internal processes and external contractors that have
been engaged by Aeris.
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Non-marketable parcels
Aeris confirms that based on the closing price of Aeris Shares as at 11 September 2024, there
were 3,390 Shareholders with less than a marketable parcel of $500 of Shares. Refer to page
153 of the Annual Report for more information on the distribution of Aeris Shareholders.
This addendum should be read in conjunction with the Annual Report and unless otherwise
defined, capitalised terms used in this addendum have the meaning given to those terms
in the Annual Report.
This announcement is authorised for lodgement by:
Andre Labuschagne
Executive Chairman
ENDS
For further information, please contact:
Mr. Andre Labuschagne
Executive Chairman
Tel: +61 7 3034 6200, or visit our website at www.aerisresources.com.au
or
Stefan Edelman
General Manager – Corporate Development
Email: investorrelations@aerisresources.com.au
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