QUARTERLY ACTIVITIES REPORT - JUNE 2025
Released
Released
Announcement PDF
Quarterly Activities Report
Quarterly Activities Report
For the period ended 30 June 2025
Highlights
Group copper equivalent production of 10.9kt1 for the quarter at improved AISC of
A$4.50/lb Cu eq
Cash and receivables at end of quarter increased to $49.5M
Refinancing of corporate guarantee facilities successfully completed
Higher Tritton production of 6.2kt Cu at lower AISC of A$4.22/lb
Tritton processing plant operating above nameplate capacity with the availability
of additional ore from the Murrawombie Pit
Strong Cracow gold production of 11.0koz and AISC of A$3,075/oz
Good cost control across operations for the year
North Queensland assets on care and maintenance – pursuing options for
divestment
Safety – LTIFR
Copper produced
Unit
Sep 24
Qtr
Dec 24
Qtr
Mar 25
Qtr
Jun 25
Qtr
/mmhrs
1.4
1.6
1.9
1.3
-
-
kt
6.0
5.8
7.0
6.2
24.9
27 – 32
YTD
FY25
Guidance
Gold produced
koz
15.2
15.1
11.9
13.1
55.2
50 – 62
Silver produced
koz
43.9
35.2
45.2
60.8
185.2
200 – 240
Cu eq production1
kt
10.2
10.2
10.7
10.9
42.1
40 – 48
A$M
49.1
45.0
44.5
58.2
196.7
172 – 210
Processing
A$M
21.5
19.2
21.1
14.9
76.7
69 – 85
Site & G&A
A$M
9.3
10.8
9.6
8.9
38.6
35 – 42
TC/RCs
A$M
4.9
4.8
1.3
1.9
12.9
17 – 21
Operating Costs
Mining
Product handling
A$M
4.5
4.8
5.5
5.3
20.0
19 – 23
Care & maintenance
A$M
2.3
2.4
2.9
3.1
10.8
3–5
Sustaining
A$M
15.1
19.5
17.6
17.3
69.4
64 – 79
Growth
A$M
3.0
4.1
13.0
13.2
33.4
38 – 49
Exploration
A$M
3.0
1.7
2.2
2.9
9.8
5–8
Projects
A$M
0.5
0.4
0.5
0.3
1.7
1–2
A$M
A$/lb
Cu eq
119.7
113.8
116.2
108.6
458.0
-
5.32
5.04
4.91
4.50
4.93
-
Capital Costs
AISC
AISC
1 Formula for Copper Equivalent (Cu eq) = ((Cu Produced x Cu $/t) + (Au Produced x Au $/oz) + (Ag Produced x Ag $/oz)) / (Cu $/t).
Produced quantities are after recovery. Commodity prices – Sep quarter: US$9,210/t Cu, US$2,474/oz Au and US$29/oz Ag, Dec
quarter: US$9,193/t Cu, US$2,663/oz Au and US$31/oz Ag, Mar quarter: US$9,345/t Cu, US$2,861/oz Au and US$32/oz Ag, Jun
quarter: US$9,524/t Cu, US$3,281/oz Au and US$34/oz Ag
Aeris Resources Limited
1
Group Safety, Environment and Community
Pleasingly, Aeris recorded no lost time injuries for the quarter with Group LTIFR reducing
to 1.3 for the quarter.
There were no reportable environmental incidents during the quarter.
Figure 1: Group LTIFR
3
No of LTI
LTIFR
2
1
-
2
Tritton Operations (NSW)
Key points for quarter:
Production of 6.2kt Cu (up 44%) at AISC of A$4.22/lb (down 31%)
Processing plant operating above nameplate capacity (>2Mtpa) towards the end
of the quarter
Stockpiles of 77kt mined ore available for processing in FY26
Capital costs lower than planned due to Stage 2 waste stripping in the pit being
pushed into FY26
Production Summary
Unit
Sep 24
Qtr
Dec 24
Qtr
Mar 25
Qtr
Jun 25
Qtr
YTD
FY25
Guidance
Ore Mined
Kt
269.1
243.6
218.6
455.8
1,187.0
Mined Grade
% Cu
1.87
1.78
2.03
1.49
1.74
Ore Milled
Kt
273.9
239.3
238.7
382.1
1,134.0
Milled Grade
% Cu
1.90
1.69
1.90
1.70
1.79
Recovery
Cu
95.9%
95.4%
95.7%
95.6%
95.7%
Copper Produced
Kt
5.0
3.9
4.3
6.2
19.4
21 – 25
Gold Produced
Koz
1.5
1.1
1.4
2.0
6.1
7–9
Silver Produced
Koz
43.9
35.2
45.2
60.8
185.2
200 – 240
Mining
A$M
27.4
24.9
28.1
41.8
122.2
105 – 128
Processing
A$M
7.4
7.8
7.5
7.7
30.4
29 – 36
Site G&A
A$M
5.2
6.5
6.4
5.7
23.8
21 – 25
TC/RCs
A$M
4.2
3.4
0.8
1.9
10.3
13 – 16
Product Handling
A$M
3.7
3.2
3.4
5.3
15.5
14 – 17
By-Product Credit
A$M
(7.1)
(6.3)
(9.1)
(12.9)
(35.4)
Royalties
A$M
2.0
1.8
2.7
3.1
9.6
Corporate G&A
A$M
0.5
0.5
0.5
0.5
2.2
Inventory Movements
A$M
0.8
0.6
5.0
(7.6)
(1.2)
Sustaining Capital1
A$M
11.5
14.8
13.8
12.4
52.5
A$M
55.6
57.3
59.0
57.9
229.7
A$/lb
5.06
6.75
6.16
4.22
5.37
Growth Capital
A$M
2.7
4.0
12.2
13.1
32
37 – 45
Exploration
A$M
0.5
0.2
0.9
1.3
2.9
1–2
A$M
58.7
61.5
72.2
72.3
264.7
A$/lb
5.35
7.24
7.53
5.27
6.19
Cost Summary
All-In Sustaining Costs2
All-In Costs
1.
Includes sustaining capital, capitalised mine development, rehabilitation and financing payments (principal
and interest) on leased assets
2.
All-In Sustaining and All-In Costs are based on copper produced. The March quarter has been amended for a
for a calculation error.
51 – 63
3
Operations
Tritton achieved production of 6.2kt Cu in the June quarter, a 44% increase on the
previous quarter. Underground production was higher quarter on quarter with
additional stoping areas online. The mining improvement program continued to
demonstrate better performance in key activities from that achieved in in the first half
of the year:
diamond drilling metres up 76%;
development metres up 28%;
backfill placement up 114%.
Total ore mined was boosted with the introduction of Stage 1 ore from the
Murrawombie open pit, although the production ramp up was slower than expected.
Since quarter end, Stage 1 mining completed, with the Stage 2 cut back progressing
to plan.
At the end of the quarter, 77kt of mined ore was stockpiled, available for processing
in FY26.
The processing plant performed well for the quarter, achieving new daily and weekly
milling records towards the end of June when ore was available from the open pit. An
annualised rate >2Mtpa was achieved in the final weeks of June, significantly above
nameplate capacity of 1.8Mtpa. Metallurgical recoveries continued to be higher
than plan
4
Figure 2: Stage 1 mining at Murrawombie Pit
At the Constellation project, mine planning work commenced on the updated
Mineral Resource model to optimise open pit staging options, underground designs
and production schedules. Technical work progressed on metallurgical test work, site
layout and mine integration design. Aeris continues to work with the NSW DPHI
Planning Authority, Mining Concierge, EPA, Resources Regulator, Heritage NSW and
the Bogan Shire Council focussing on all aspects of the State Significant Development
Consent (EIS).
Costs
Gross mining costs increased significantly with the ramp up in activities at
Murrawombie Pit. All in sustaining costs however were lower on a unit basis due to
higher copper tonnes produced. Operating and sustaining capital costs for the year
were within guidance.
Growth capital for the quarter was lower than guidance due to capitalised stripping
for Phase 2 of the pit being pushed into FY26.
5
Exploration
During the quarter, work progressed on refining the greenfield exploration strategy at
Tritton. Regional geological interpretation continued, focused on understanding the
key geological controls influencing mineral system formation — from the broader
basin scale down to specific prospect areas. This work is expected to continue
through the first half of FY26, with early-stage, on-ground exploration to follow,
targeting the most prospective corridors identified through the review.
Underground resource definition drilling at the Avoca Tank deposit commenced
during the quarter. The resource definition drill program is targeting mineralisation
down plunge below the base of the current Mineral Resource.
Figure 3: Long section looking north east at the Avoca Tank deposit. Resource definition drilling
is targeting extensions to mineralisation down-plunge from the known Mineral Resource (green
and blue wireframes)
6
Cracow Operations (QLD)
Key points for quarter:
Gold production 11.0koz (up 22%) at AISC of A$3,075/oz (down 12%)
The secondary cyclone was commissioned in the quarter, with the processing
plant demonstrating sustained improvement in recoveries from regrind mill
debottlenecking
TSF lift approved and contractor mobilised to construct in Q1 FY26
Production Summary
Unit
Sep 24
Qtr
Dec 24
Qtr
Mar 25
Qtr
Jun 25
Qtr
YTD
FY25
Guidance
Ore Mined
Kt
126.8
130.4
115.6
133.8
506.6
Mined Grade
g/t
3.30
3.08
2.47
2.68
2.89
Ore Milled
Kt
157.6
156.8
143.5
159.6
617.6
Milled Grade
g/t
2.80
2.68
2.19
2.36
2.51
Recovery
Au
91.1%
90.4%
88.9%
91.1%
90.5%
Gold Produced
Koz
12.9
12.2
9.0
11.0
45.1
Gold Sold
Koz
12.6
12.4
9.4
10.8
45.3
A$M
14.0
14.5
16.4
16.3
61.2
57 – 70
Processing
A$M
6.5
6.6
6.8
7.2
27.1
24 – 30
Site G&A
A$M
2.7
2.8
2.7
2.9
11.0
11 – 13
By-Product Credit
A$M
(0.2)
(0.3)
(0.3)
(0.5)
(1.4)
Royalties
A$M
2.6
2.7
2.4
3.0
10.7
40 – 49
Cost Summary
Mining
Corporate G&A
A$M
0.4
0.4
0.4
0.4
1.7
Inventory Movements
A$M
0.2
(0.4)
0.7
(1.0)
(0.5)
Sustaining Capital1
A$M
3.6
4.6
3.5
4.9
16.7
A$M
29.7
30.9
32.7
33.3
126.5
A$/oz
2,352
2,488
3,473
3,075
2,795
Growth Capital
A$M
-
-
-
-
-
0–1
Exploration
A$M
2.0
1.2
0.9
1.2
5.3
3–4
A$M
31.7
32.1
33.5
34.5
131.8
A$/oz
2,509
2,587
3,567
3,187
2,912
All-In Sustaining Costs2
All-In Costs2
1.
2.
13 – 16
Includes sustaining capital, capitalised mine development, rehabilitation and financing payments (principal and interest) on leased assets
All-In Sustaining and All-In Costs are based on gold sold
Operations
Cracow performed well in the June quarter with gold production of 11.0koz, 22%
higher quarter on quarter due to improved mining rates and recoveries. Higher
underground production offset lower grade stockpile material in the mill feed.
The newly installed secondary cyclone circuit at the plant is performing well enabling
100% of leach feed to now pass through the regrind mill. A sustained 1-2%
improvement in metallurgical recovery has been achieved by debottlenecking the
regrind mill.
7
The next lift on the tailings dam was approved by the regulator and the construction
contractor has mobilised to site to commence construction in Q1 FY26.
Costs
AISC costs was well managed in the quarter, achieving a lower AISC/oz of A$3,075,
driven by higher gold production. Costs for the year were well controlled with capital
and operating costs broadly within guidance ranges.
Exploration
A review is underway to assess the remaining gold prospectivity within the Golden
Plateau mine footprint. Previous drill programs completed by Aeris at Golden Plateau
focused on targeting structures south of the historical workings (Chas, King and Harry's
lode) and a shallow lode on the western margin of the deposit (Western lode). The
primary focus of the drill programs was to delineate discrete high-grade structures for
extraction via underground mining methods.
The current review focuses on understanding the potential for a broader, low-grade
gold system that could support a larger-scale open-pit mining operation.
The Golden Plateau deposit is the most significant contributor to the known Cracow
goldfield in terms of ounces, with approximately 850koz produced to date. Mining
(underground) began in the early 1930s and continued until 1976. Production over this
period totalled approximately 1.55Mt at 11.9g/t1 Au for 596koz Au, over eight levels to
a maximum depth of 260m below surface.
Following a short hiatus, open pit mining commenced in 1987 and continued through
to 19901, targeting lower-grade mineralisation surrounding the previously mined highgrade shoots. The pit advanced to approximately 120m below surface and mined
through the upper three underground levels, producing 2.2Mt at 2.7g/t Au for 190koz
Au1. Toward the end of the open pit operation, a brief phase of underground mining
occurred along the NS12 structure located on the northeast portion of the deposit.
Reported production was 46kt at 9.4g/t Au for 14koz Au.
While the review is in its early stages, initial assessment of in-pit grade control data has
identified extensive low-grade (+1g/t Au) mineralisation that was left behind by
underground mining. This low-grade mineralised halo appears continuous in places
and is supported by historical drilling below the pit, which intersected similar low-grade
gold zones. Mining records also show that underground stoping continued below the
current pit floor, further highlighting the potential for continuity of mineralisation at
depth.
1 Vigar, A.J, 1994 “Grade Modelling Reconciled to Open Pit Mining at the Golden Plateau Mine, Cracow,
Queensland” 1994 AuslMM Student Conference April 1994, pg 49-54
8
Figure 4: A) Long section looking north and (B) level slice (+/-10m) at the 385mRL at the Golden
Plateau deposit showing underground stopes (grey wireframe) and open pit surface
(transparent brown). Drill hole and underground face sample data are shown displaying Au
grades.
9
North Queensland Operations (QLD)
Key points for quarter:
Operations on care and maintenance
Options for divestment of North Queensland assets are being pursued
Production Summary
Unit
Sep 24
Qtr
Dec 24
Qtr
Mar 25
Qtr
Jun 25
Qtr
YTD
Ore Mined
kt
106.4
70.6
-
-
176.9
Mined Grade
FY25
Guidance
% Cu
2.51
2.28
-
-
2.42
Ore Milled
kt
101.8
106.6
154.1
-
362.5
Milled Grade
% Cu
1.57
2.11
2.06
-
1.94
Recovery
Cu
62.3%
85.1%
82.0%
-
78.5%
Copper Produced
kt
1.0
1.9
2.6
-
5.5
6–7
Gold Produced
koz
0.8
1.8
1.5
-
4.0
3–4
A$M
7.7
5.5
-
0.1
13.3
10 – 12
Processing
A$M
7.6
4.8
6.9
-
19.3
16 – 19
Site G&A
A$M
1.3
1.6
0.5
0.3
3.7
3–4
TC/RCs
A$M
0.7
1.3
0.6
-
2.6
4–5
5–6
Cost Summary
Mining
Product Handling
A$M
0.8
1.6
2.1
-
4.5
By-Product Credit
A$M
(5.4)
(4.4)
(2.7)
(0.2)
(12.6)
Royalties
A$M
1.6
0.3
1.5
0.3
3.8
Corporate G&A
A$M
0.3
0.3
0.3
0.3
1.3
Inventory Movements
A$M
4.6
0.9
-
-
5.5
Sustaining Capital1
A$M
-
-
0.3
-
0.1
A$M
19.4
12.0
9.4
0.8
41.4
A$/lb
8.81
2.84
1.64
n/a
3.40
Growth
A$M
0.2
0.2
-
-
0.4
1–3
Exploration
A$M
0.1
-
-
0.2
0.3
0–1
A$M
19.6
12.2
9.5
1.0
42.1
A$/lb
8.94
2.89
1.65
n/a
3.46
All-In Sustaining Costs2
All-In Costs2
1.
Includes sustaining capital, capitalised mine development, rehabilitation a nd financing payments
2.
(principal and interest) on leased assets
All-In Sustaining and All-In Costs are based on copper produced
Operations
The North Queensland operations remain on care and maintenance. No material
work was undertaken on the site this quarter. The company continues to investigate
options for a divestment of the assets.
10
Jaguar Operations (WA)
Key points for quarter:
Operation in care and maintenance, incurring costs of $3.0 million
Advanced the feasibility study, with particular focus on mine development and
production schedules to optimise project value
Renewed focus on greenfield exploration
Exploration
During the quarter exploration focussed on drilling at the Holey Moley gold prospect
(E37/981) with base metal exploration continuing to advance drill targets along the
known prospective 10km volcanic-hosted massive sulphide (VHMS) corridor.
Drilling at the Holey Moley gold prospect included a three-hole RC drilling program.
The prospect is located along a WNW trending structure interpreted to merge into the
more regionally significant NNW trending Heather Bore shear, which hosts a welldefined 2km shallow gold anomaly1. Additional pathfinder anomalism, including
bismuth and tellurium, are coincident with this gold zone. The WNW structure targeted
in this round of drilling lies within a broader series of parallel features interpreted from
geophysical datasets, which appear to intersect the Great Western and Celtic
deposits outside Aeris tenements to the west. The current working assumption is that
these structures form high-angle features to the Heather Bore shear, which may
transmit and focus gold mineralisation.
Due to operational constraints, the drill holes were terminated before reaching their
planned hole depths and may not have fully tested the target structure. However,
assay results from the program confirmed low-grade, discontinuous gold
mineralisation, with best results including 1m @ 1.48 g/t Au in hole 25HMRC002A (refer
to Figure 5 and Figure 6). These drill intercepts occur at similar relative elevations to
nearby historical intersections and appear consistent with a supergene or transitionzone style of mineralisation.
While results were sub-economic, the program has refined the geological model and
confirmed mineralisation continuity across a key structural trend. Follow-up drilling is
warranted to further assess the potential for primary gold mineralisation along the
WNW trending structure.
1 Refer to ASX announcement “Exploration and resource drilling update” dated 17 June 2024
11
Figure 5: Heather Bore and Holey Moley gold prospects within the northern margin of the
Jaguar Project tenement. Regional geology is shown with maximum down-hole gold grades
displayed across historical1 (aircore/RC) and more recent Aeris drill programs 2
12
Figure 6: Cross section view looking north-west at the Holey Moley gold prospect showing
downhole gold assays from the 2025 drill program and historical programs completed by
previous explorers1
The base metal exploration drill target review defined eight high-priority drill-ready
targets (refer to Figure 7). A first pass drill program is planned to test each target in
FY26.
1 Refer to ASX announcement “Exploration and resource drilling update” dated 17 th June 2024
2 Refer to ASX announcement “Quarterly Activities Report – Sept 2024” dated 30th October 2024
1 Refer to ASX announcement “Exploration and resource drilling update” dated 17 June 2024
13
Figure 7: Regional geology across the known VHMS corridor showing the location of the four
known VMS deposits (Triumph, Teutonic Bore, Jaguar and Bentley) and the eight priority drill
targets that will be tested in FY26
14
Target generation was informed by a regional mapping campaign that reclassified
stratigraphy immediately east of the known prospective VHMS corridor. An extensive
sericite-altered untested rhyolitic volcaniclastic sequence, up to 1km thick, had
previously been misinterpreted as massive rhyolite and largely overlooked by earlier
explorers. While the presence of this unit alone does not confirm prospectivity, it
becomes of greater interest when considered in conjunction with other datasets.
Discrete gravity anomalies identified in Aeris’ 2022 infill gravity survey, low-level
pathfinder anomalism returned from ongoing rock chip sampling, and the presence
of pervasive sericite alteration collectively support a compelling case for VHMS-style
mineralisation within this newly defined corridor.
The discrete gravity anomalies, are modelled with amplitudes ranging from 0.8 to 1.8
milligals, interpreted depths between 60m and 200m, and strike lengths between ~
300m and 1km. The gravity bodies coincide with subdued magnetic responses,
suggesting they are unlikely to be associated with magnetic dolerite sills that are
common throughout the stratigraphic profile at Jaguar. However, it does not discount
the possibility that the gravity bodies could be associated with nonmagnetic mafic
bodies.
Although surface geochemical coverage remains limited, a rock chip sampling
program is underway across the eight priority targets. Preliminary results, which are still
being evaluated, have returned low-level anomalies in multiple pathfinder elements,
such as Ag, As, Bi, In, Pb, Sb, Sn, and Tl, further supporting the potential for VHMS-style
mineralisation.
Stockman Project (VIC)
Key points for quarter:
Detailed Albion leach metallurgical test work completed with remaining test
work due in Q1 FY26
Preliminary design of Albion and alternate pyrite-based flowsheet to
incorporate sulphuric acid generation due for completion in Q1 FY26
Site visits to locations for proposed downstream processing facility completed,
with associated permitting requirements being assessed
15
Corporate
Cash and Receivables
At the end of the quarter, Aeris increased useable cash and receivables to $49.5
million with a closing unrestricted cash balance of $28.2 million. Approximately ~$10
million was released to cash during the quarter under the refinanced facilities (see
below for more information). Total restricted cash held against bonds reduced to $17
million.
(A$ Million)
Sep 24
Dec 24
Mar 25
Jun 25
QTR
QTR
QTR
QTR
Closing Cash
Receivables
Mt Colin
25.5
26.4
22.4
28.2
3.6
0.3
-
-
Cracow
-
0.1
-
-
Tritton
10.0
6.2
11.2
21.3
39.1
33.0
33.6
49.5
Useable Cash and Receivables
Cash flow from operations at $34 million was lower than previous quarter due to timing
of receipts. Receivable were considerably higher at $21.3 million; a significant portion
was received in July 2025.
Sep 24
Dec 24
Mar 25
Jun 25
QTR
QTR
QTR
QTR
Opening cash
Cash flow from operations
Cash flow from capital expenditure
24.8
25.4
(19.4)
25.5
33.2
(25.9)
26.4
45.4
(31.5)
22.4
34.0
(24.9)
Cash flow from financing
(5.2)
(6.4)
(17.8)
(3.2)
Closing cash
25.5
26.4
22.4
28.2
(A$ Million)
Figure 8: June Quarter Cash Flow (A$M)
16
Figure 9: YTD Cash Flow (A$M)
Debt and Hedging
During the quarter the company completed the refinancing of its $50 million
guarantee facility with ANZ with a new $60 million guarantee facility from Washington
H. Soul Pattinson (WHSP). The facility agreement also extended the term on the $50
million loan facility (drawn to $40 million) with WHSP to 31 August 2026. The Company
had no hedges in place at the end of the quarter.
Authorised for lodgement by:
Andre Labuschagne
Executive Chairman
ENDS
For further information, please contact:
Andre Labuschagne
Executive Chairman
Tel: +61 7 3034 6200
Stefan Edelman
General Manager – Corporate Development
investorrelations@aerisresources.com.au
or visit our website at www.aerisresources.com.au
About Aeris
Aeris Resources is a mid-tier base and precious metals producer. Its copper dominant
portfolio comprises two operating assets, a mine on care and maintenance, a longlife development project and a highly prospective exploration portfolio.
Aeris has a strong pipeline of organic growth projects, an aggressive exploration
program and continues to investigate strategic merger and acquisition opportunities.
The Company’s experienced board and management team bring significant
corporate and technical expertise to a lean operating model. Aeris is committed to
building strong partnerships with its key community, investment and workforce
stakeholders.
17
Competent Persons Statement
Mr Chris Raymond confirms that he is the Competent Person for all Exploration Results at the Tritton
Operation, and he has read and understood the requirements of the 2012 Edition of the Australasian
Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code, 2012
Edition). Mr Raymond is a Competent Person as defined by the JORC Code, 2012 Edition, having relevant
experience to the style of mineralisation and type of deposit described in the Report and to the activity
for which he is accepting responsibility. Mr Raymond is a Member of the Australian Institute of
Geoscientists (MAIG No. 6045). Mr Raymond has reviewed the Report to which this Consent Statement
applies and consents to the inclusion in the Report of the matters based on his information in the form
and context in which it appears. Mr Raymond is a full-time employee of Aeris Resources Limited.
The information in this report that relates to Exploration Targets or Exploration Results at the Cracow
Operation is based on information compiled by Craig Judson. Mr Judson confirms that he is the
Competent Person for all Exploration Results, summarised in this Report and he has read and understood
the requirements of the 2012 Edition of the Australasian Code for Reporting of Exploration Targets,
Exploration Results, Mineral Resources and Ore Reserves (JORC Code, 2012 Edition). Mr Judson is a
Competent Person as defined by the JORC Code, 2012 Edition, having relevant experience to the style
of mineralisation and type of deposit described in the Report and to the activity for which he is accepting
responsibility. Mr Judson is a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM No.
325510). Mr Judson has reviewed the Report to which this Consent Statement applies and consents to
the inclusion in the Report of the matters based on his information in the form and context in which it
appears. Mr Judson is a full-time employee of Aeris Resources Limited.
The information in this report that relates to Exploration Targets or Exploration Results at the Jaguar
Operation is based on information compiled by Alain Cotnoir. Mr Cotnoir confirms that he is the
Competent Person for all Exploration Results, summarised in this Report and he has read and understood
the requirements of the 2012 Edition of the Australasian Code for Reporting of Exploration Targets,
Exploration Results, Mineral Resources and Ore Reserves (JORC Code, 2012 Edition). Mr Cotnoir is a
Competent Person as defined by the JORC Code, 2012 Edition, having relevant experience to the style
of mineralisation and type of deposit described in the Report and to the activity for which he is accepting
responsibility. Mr Cotnoir is a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM No.
315017). Mr Cotnoir has reviewed the Report to which this Consent Statement applies and consents to
the inclusion in the Report of the matters based on his information in the form and context in which it
appears. Mr Cotnoir is a full-time employee of Aeris Resources Limited.
18
APPENDIX A: Summary of Golden Plateau drill hole collar, survey details and
significant intersections for holes not previously reported.
Hole ID
Local X
(m)
Local Y
(m)
RL (m)
Total
Depth
(m)
Local
Azi
Dip
Company
Depth
From
(m)
Depth
To (m)
Downhole
Length
(m)
Au
Grade
(g/t)
AT32
1344.41
2081.61
2424
20
56.99
-60
Sedimentary
1
18
17
1.44
ATF4
2365
2082
2396
22
70
-70
Sedimentary
2
19
17
2.45
ATF5
2355
2078
2396
30
70
-70
Sedimentary
1
7
6
0.63
Sedimentary
11
21
10
1.62
2360
2080
2396
44
70
-70
Sedimentary
25
27
2
0.76
Sedimentary
32
33
1
1.98
ATF5
ATF6
ATF6
ATF8
2365.3
2062.8
2393
18
70
-70
Sedimentary
0
6
6
0.49
ATF9
2356.1
2059.3
2391
39
70
-70
Sedimentary
0
6
6
0.76
Sedimentary
14
39
25
2.01
1939.1
2092.8
2460.8
175
180
-60
Sedimentary
6
19
13
3.89
CDH1
Sedimentary
23
30
7
0.91
CDH1
Sedimentary
41
68
27
0.64
CDH1
Sedimentary
101
106.25
5.25
1.97
CDH1
Sedimentary
116.15
118.83
2.68
0.57
CDH1
Sedimentary
123.17
133.3
10.13
1.45
CDH1
Sedimentary
136.95
164
27.05
0.99
ATF9
CDH1
CDH2
Sedimentary
116.95
118.2
1.25
1.49
CDH2
Sedimentary
134.2
144.7
10.5
1.28
CDH2
Sedimentary
188.45
190
1.55
0.81
Sedimentary
118.65
119.65
1
0.93
CDH3
Sedimentary
151.7
153.7
2
1.43
CDH3
Sedimentary
169.6
171
1.4
3.76
Sedimentary
137.15
139.76
2.61
0.69
CDH4
Sedimentary
148.97
150.97
2
2.35
CDH4
Sedimentary
154.63
159.23
4.6
0.89
CDH4
Sedimentary
167.87
169.2
1.33
0.8
CDH4
Sedimentary
181.7
196.45
14.75
0.95
Sedimentary
83
127
44
2.4
CDH3
CDH4
2287.81
2282.92
2291.03
1918.48
1904.21
1907.28
2463.16
2463.38
2463.36
190
171
200.3
0
0
340
-59
-59.5
-60
CDH7
1877.74
1966.5
2467.26
139
0
-60
CGP001
2322.11
1744.04
2470
597.1
353
-65
Newcrest
282.5
286.4
3.9
1.32
CGP002
1403.71
1461.85
2370
480.6
92
-53.2
Newcrest
101
103
2
1.13
CGP003
1917.23
1644.96
2411
546.9
299.3
-58.9
Newcrest
CGP004
1927.81
1665.41
2415
576.6
41.5
-50.1
Newcrest
248
250
2
13.87
Newcrest
255
256
1
0.81
CGP004
CGP004
No Sig Int
Newcrest
501
502
1
1
Newcrest
113
114
1
0.67
CGP005
Newcrest
197
199
2
2.01
CGP005
Newcrest
279
280
1
6.8
Newcrest
354
355
1
1.32
CGP005
1832.92
1601.33
2414
590.1
288
-57
CGP005
CGP006
1872.82
1318.06
2384
538.2
263
-55
Newcrest
No Sig Int
CGP007
1926.19
1662.19
2411
438.8
42
-59
Newcrest
No Sig Int
19
Hole ID
Local X
(m)
Local Y
(m)
RL (m)
Total
Depth
(m)
Local
Azi
Dip
Company
Depth
From
(m)
Depth
To (m)
Downhole
Length
(m)
Au
Grade
(g/t)
CGP008
2492.71
1790.17
2451
558
116
-53
Newcrest
184
185
1
0.97
Newcrest
248
249
1
1.52
CGP008
CGP008A
2491.59
1791.04
2451
89
CGP009
2817.45
1435.13
2363
405
CGP010
2528.44
2171.89
2397
321.3
CGP011R
1734.97
1863.91
2463
94
CGP012R
1729.64
1866.28
2463
86
CGP013R
1725.18
1869.76
2463
CGP014R
1749.58
1879.84
2466.19
CGP021
1774.19
1882.35
2468
183.6
116
-53
Newcrest
274
-50
Newcrest
352.99
-60.5
Newcrest
301
-69
Newcrest
No Sig Int
301
-64
Newcrest
No Sig Int
86
301
-58
Newcrest
No Sig Int
104
323
-75
Newcrest
No Sig Int
153
-76
Newcrest
150.6
162
11.4
8.4
Newcrest
174.6
175.6
1
1.22
CGP021
No Sig Int
No Sig Int
202.5
206
3.5
0.52
CGP024
2044.22
2365.05
2444.14
300
173
-50
Newcrest
No Sig Int
CGP025
1627.16
2233.64
2468.13
304
220
-50
Newcrest
No Sig Int
CGP026
1635.48
2110.66
2460.53
244
218
-50
Newcrest
No Sig Int
CGP027
2047.73
1452.13
2391.77
388
353
-50
Newcrest
CGP028
2130.94
1730.84
2478.6
298
38
-52
Newcrest
CGP029
2029.54
1781.68
2471.81
227
325
-56
Newcrest
CGP030
2466.89
2136.21
2406.88
300
264
-53
Newcrest
109
110
1
1.01
CGP030
Newcrest
127
129
2
0.78
CGP030
Newcrest
216
219
3
0.65
297
298
1
5.31
No Sig Int
No Sig Int
CGP032
2029.56
1778.59
2471.57
300
38
-76
Newcrest
No Sig Int
CGP033
1784.05
1877.42
2468.18
140
2
-90
Newcrest
No Sig Int
CGP034
1735.58
1871.12
2464.03
129
2
-90
Newcrest
No Sig Int
CGP035
1739.84
1864.1
2464.16
154
158.5
-78
Newcrest
No Sig Int
CGP036
2758.35
1940.47
2398
300
147
-70
Newcrest
88
89
1
0.
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