GROUP MINERAL RESOURCE AND ORE RESERVE STATEMENT
Released
Released
Announcement PDF
22 JULY 2025
ASX/MEDIA RELEASE
GROUP MINERAL RESOURCE AND
ORE RESERVE STATEMENT as at 31 December 2024
Established Australian copper-gold producer and explorer, Aeris Resources Limited (ASX:AIS)
(Aeris or the Company) is pleased to release its 31 December 2024 Group Mineral Resource
and Ore Reserve Statement for its 100% owned Tritton, Cracow Operations and the North
Queensland, Jaguar and Stockman Projects.
Key Highlights
• The Group Mineral Resource is now estimated at 48.9Mt, containing 784kt of copper,
1,361koz of gold, 1,045kt of zinc and 36.6Moz of silver 1.
• The Group Ore Reserve is now estimated at 14.1Mt, containing 249kt of copper, 398koz of
gold, 413kt of zinc and 11.8Moz of silver.
• New reporting policy for Tritton, aimed at improving the Resource-to-Reserve conversion
ratio, partly contributed to reduction in Tritton Mineral Resource.
Forward Work Plan
Aeris is focused on growing and sustaining high-quality Reserves and Resources across our core
assets. In FY26, we’re increasing resource definition and exploration drilling at Tritton, Cracow,
and Jaguar—targeting Resource and Reserve growth, mine life extensions, and long-term
value creation.
Aeris’s Executive Chairman Andre Labuschagne said:
“Our copper and gold focused Mineral Resource and Ore Reserve estimates highlight the
quality, scale, and diversity of our asset base. A focused forward work plan targets high-value
opportunities to drive growth and extend asset life. At Tritton, enhanced resource reporting
methodology will improve future Resource-to-Reserve conversion, strengthening our growth
pipeline and supporting long-term development confidence”
1 Our Mineral Resource estimates are inclusive of reported Ore Reserve estimates
Mineral Resource and Ore Reserves Statement
1
31 December 2024
Group Mineral Resource and Ore Reserve Estimates
Group Mineral Resource and Ore Reserve Estimates are presented in Table 1 and Table 2.
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 (the “JORC Code 2012”). Competent Persons’
statements for the estimates are included at the end of this statement and JORC Code Table
1 disclosures are included in the Appendices to this document.
Mineral Resource and Ore Reserves Statement
2
31 December 2024
Table 1: Group Mineral Resource Estimates at 31 December 2024
BASE METALS
Asset
Tritton
Jaguar
North Qld
Stockman
Total
GOLD
Asset
Cracow
Total
Grade
Contained Metal
Category
Tonnes
(Mt)
Cu (%)
Zn (%)
Au (g/t)
Ag (g/t)
Cu (kt)
Zn (kt)
Au (koz)
Ag (koz)
Measured
Indicated
Inferred
Total
Measured
Indicated
Inferred
Total
Measured
Indicated
Inferred
Total
Measured
Indicated
Inferred
Total
Measured
Indicated
Inferred
Grand Total
0.4
11.0
7.5
18.9
0.5
4.2
2.0
6.6
0.2
2.4
0.6
3.2
13.4
2.4
15.8
1.1
31.0
12.4
44.5
1.0
1.6
1.8
1.7
1.6
1.4
1.1
1.4
2.3
2.0
2.0
2.0
2.1
1.1
2.0
1.5
1.9
1.6
1.8
5.0
6.4
6.5
6.3
4.2
2.6
4.0
2.3
2.7
1.5
2.3
0.1
0.4
0.3
0.4
0.3
0.4
1.0
0.6
0.5
0.2
0.1
0.2
1.0
1.5
1.1
0.2
0.6
0.6
0.6
2
4
4
4
63
67
83
71
0
3
2
2
0
37
32
36
29
27
22
25
4
179
131
314
8
59
23
90
5
47
12
64
288
27
315
17
574
193
784
25
268
128
422
561
62
624
25
829
191
1,045
1
158
73
233
4
53
62
119
3
16
2
21
420
117
537
9
647
254
910
30
1,270
840
2,140
1,030
8,950
5,260
15,240
0
210
30
240
0
16,000
2,440
18,450
1,060
26,440
8,580
36,070
Cu (%)
-
Zn (%)
-
Cu (kt)
-
-
-
Ag (g/t)
3
4
4
4
Category
Measured
Indicated
Inferred
Grand Total
Tonnes
(Mt)
0.4
1.9
2.1
4.4
Grade
Au (g/t)
4.0
3.6
2.6
3.2
-
Contained Metal
Zn (kt)
Au (koz)
46
224
181
452
Ag (koz)
40
230
300
570
Notes:
•
Mineral Resource estimates are reported using a variety of cut-off criteria (NSR, copper or gold) depending on which is best suited to each deposit.
•
Discrepancy in summation may occur due to rounding.
•
A detailed description for each Mineral Resource estimate is included in the Appendices (apart from the Budgery resource model, which is JORC 2004 compliant).
Mineral Resource and Ore Reserves Statement
3
31 December 2024
Table 2: Group Ore Reserve Estimates at 31 December 2024
BASE METALS
Asset
Tritton
North Qld
Stockman
Total
GOLD
Asset
Cracow
Total
Category
Proved
Probable
Total
Proved
Probable
Total
Proved
Probable
Total
Proved
Probable
Grand Total
Category
Proved
Probable
Grand Total
Tonnes
(Mt)
0.1
2.3
2.4
1.6
1.6
9.6
9.6
0.1
13.5
13.6
Cu (%)
0.7
1.6
1.5
1.9
1.9
1.9
1.9
0.7
1.8
1.8
Zn (%)
4.3
4.3
3.1
3.0
Grade
Au (g/t)
0.3
0.3
0.2
0.2
1.0
1.0
0.8
0.8
Ag (g/t)
6
6
36
36
27
26
Cu (kt)
1
36
37
30
30
183
183
1
249
249
Contained Metal
Zn (kt)
Au (koz)
23
23
9
9
413
318
413
318
413
350
413
350
Ag (koz)
440
440
11,410
11,410
11,850
11,850
Tonnes
(Mt)
0.1
0.4
0.5
Cu (%)
-
Zn (%)
-
Grade
Au (g/t)
3.0
2.9
2.9
Ag (g/t)
-
Cu (kt)
-
Contained Metal
Zn (kt)
Au (koz)
14
33
48
Ag (koz)
-
Notes:
•
Ore Reserve estimates 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 Ore Reserve estimate is included in the Appendices.
Mineral Resource and Ore Reserves Statement
4
31 December 2024
Changes in Group Mineral Resources Estimates (net of mining depletion)
Group Mineral Resource estimate represents a net decrease of 39kt in contained copper,
71koz in contained gold, 19kt in contained zinc, and 2Moz in contained silver relative to
estimates at 31 December 2023, as shown across our assets in Figure 1 to Figure 5.
Figure 1: Changes in Group Mineral Resource tonnage relative to 31 December 2023
Figure 2: Changes in Group Mineral Resource copper metal content relative to 31 December 2023
Mineral Resource and Ore Reserves Statement
5
31 December 2024
Figure 3: Changes in Group Mineral Resource zinc metal content relative to 31 December 2023
Group Mineral Resource - Contained Gold Changes
1,600
Contained Gold (koz)
1,400
1433
1
-4
1,200
-68
1362
1,000
800
600
400
200
0
Dec-23
Tritton
Jaguar
Cracow
Dec-24
Figure 4: Changes in Group Mineral Resource gold metal content relative to 31 December 2023
Mineral Resource and Ore Reserves Statement
6
31 December 2024
Figure 5: Changes in Group Mineral Resource silver metal content relative to 31 December 2023
Mineral Resource changes at each operation are summarised below.
• Tritton Operations Mineral Resource tonnage decreased by -3.6Mt . A decrease of 3Mt was
due to a new reporting policy for underground Mineral Resource that incorporates
conceptual stope shapes. This change replaces the previous block-by-block copper cutoff method and more accurately reflects economic and mining constraints, removes
isolated lower grade and remnant ore blocks and will improve Resource to Reserve
conversion at the Tritton Operations 2. Additional reductions were attributed to mine
depletion and sterilisation (-1.8Mt). When the new reporting policy is applied to the previous
Mineral Resource it showed a similar reduction in tonnage indicating the tonnage reduction
is due to a change in policy and not the underlying geology. These decreases were
partially offset by additions from resource extension drilling at the Constellation deposit,
which contributed 1.4Mt to the Mineral Resource.
• Cracow Operations Mineral Resource tonnage decreased by 0.5Mt compared to the
previous reporting period. Mineral Resource reductions included model changes (-0.4Mt),
mine depletion (-0.4Mt) and sterilisation (-0.3Mt), which was partially offset by resource
additions (0.7Mt) from resource extension drilling throughout the reporting period.
• Jaguar Projects Mineral Resource tonnage decreased by 1.3Mt, mainly due to a revised
resource model for the Teutonic Bore deposit based on an updated geology interpretation
and classification schema.
• North Queensland Project Mineral Resource tonnage decreased by 0.1Mt due to changes
to the sterilisation reporting criteria.
• Stockman Project Mineral Resource has not changed since the previous reporting period.
2 See further explanation within the Tritton Operation Mineral Resource Estimate section
Mineral Resource and Ore Reserves Statement
7
31 December 2024
Changes in Group Ore Reserves Estimates (net of mining depletion)
Group Ore Reserve estimates represent a net increase of 4kt in contained copper, and
decreases of 8koz of contained gold, 95kt of contained zinc, and 1.8Moz of contained silver
relative to estimates at 31 December 2023. These changes are shown across our assets in
Figure 6 to Figure 10:
Group Ore Reserve - Ore Tonnage Changes
16.0
14.0
14.1
-0.4
0.0
14.1
North Qld
Stockman
Dec-24
-1.2
12.0
Ore tonnes (Mt)
1.4
0.2
10.0
8.0
6.0
4.0
2.0
0.0
Dec-23
Tritton
Cracow
Jaguar
Figure 6: Changes in Group Ore Reserve tonnage relative to 31 December 2023
Group Ore Reserve - Contained Copper Changes
300
Contained Copper (kt)
250
245
-04
200
26
00
249
North Qld
Stockman
Dec-24
-17
150
100
50
00
Dec-23
Tritton
Jaguar
Figure 7: Changes in Group Ore Reserve contained copper relative to 31 December 2023
Mineral Resource and Ore Reserves Statement
8
31 December 2024
Group Ore Reserve - Contained Gold Changes
450
Contained Gold (koz)
09
406
400
00
-23
350
07
00
398
North Qld
Stockman
Dec-24
300
250
200
150
100
50
00
Dec-23
Tritton
Cracow
Jaguar
Figure 8: Changes in Group Ore Reserve contained gold relative to 31 December 2023
Group Ore Reserve - Contained Silver Changes
16,000
Contained Silver (koz)
14,000
13,620
12,000
-10
-1,760
00
11,850
Stockman
Dec-24
10,000
8,000
6,000
4,000
2,000
00
Dec-23
Tritton
Jaguar
Figure 9: Changes in Group Ore Reserve contained silver relative to 31 December 2023
Mineral Resource and Ore Reserves Statement
9
31 December 2024
Group Ore Reserve - Contained Zinc Changes
600
Contained Zinc (kt)
500
508
400
-95
00
413
Stockman
Dec-24
300
200
100
00
Dec-23
Jaguar
Figure 10: Changes in Group Ore Reserve contained zinc relative to 31 December 2023
The main reasons for the material changes to the Ore Reserve estimates at each asset are:
• Tritton reduced due to mining depletion. However, depletion was partly offset by additions
at the Tritton, Budgerygar and Avoca Tank underground mines.
• Cracow Operation increased due to Mineral Resource additions and subsequent mine
planning reviews.
• North Queensland Project increased, despite the completion of mining operations at Mt
Colin. This is due to the declaration of the maiden Ore Reserve for the Barbara project
following the completion of the feasibility study.
• Jaguar Project decreased following completion of technical studies that concluded
additional mineable Mineral Resources are required to support a restart. Technical Studies
have been paused while further exploration drilling is undertaken. Therefore, there is no Ore
Reserve estimate for the Jaguar Project.
• Stockman Project Ore Reserve estimate remained unchanged. Feasibility studies focused
on processing pathways are currently underway.
Mineral Resource and Ore Reserves Statement
10
31 December 2024
This announcement is 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 long-life 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.
Mineral Resource and Ore Reserves Statement
11
31 December 2024
Competent Persons Statements
Table 3 below sets out information regarding the Competent Persons for Aeris Resources 31
December 2024 Mineral Resources and Ore Reserves estimates.
The information in this statement that relates to the Mineral Resource and Ore Reserve
estimates listed in the table below is based on, and fairly represents, information and
supporting documentation prepared by the Competent Person whose name appears in the
same row. Unless otherwise stated, these Competent Persons are full-time employees of Aeris
Resources Limited (except for Andrew Fowler, who was a former employee at the time the
relevant work was conducted and John McKinstry who was a former employee of Round Oak
Minerals Ltd, who were the owners of the Stockman project at the time of preparation of the
Ore Reserve Estimate for Stockman included in this report.
All are Members or Fellows of the Australasian Institute of Mining and Metallurgy (AusIMM) and
have sufficient relevant experience to the activity being undertaken to qualify as a
Competent Person as defined in the 2012 Edition of the JORC Code. Each of these Competent
Persons consents to the inclusion in the report of the matters based on their information in the
form and context in which it appears.
Aeris Resources employees acting as a Competent Person may hold equity in Aeris Resources
Limited and may be entitled to participate in Aeris's executive equity long-term incentive plan,
details of which are included in Aeris's annual Remuneration Report. Annual replacement of
depleted Mineral Resources and Ore Reserves is one of the performance measures of Aeris’s
long-term incentive plans.
Table 3: Competent Persons for 31 December 2024 Mineral Resources and Ore Reserves estimates
Deposit Mineral Resource Estimate (MRE)
and
Deposit Ore Reserve Estimate (ORE)
Tritton MRE: Constellation
Competent
Person
Membership
Status
Member
Number
Brad Cox
AusIMM
Member
220544
Tritton MRE: Tritton, Murrawombie,
Budgerygar, Avoca Tank and Budgery
Tritton MRE: Kurrajong
Angela Dimond
AusIMM
Member
305863
Andrew Fowler
AusIMM
Member
301401
Tritton ORE: Tritton, Budgerygar, Avoca
Tank and Murrawombie UG
Tritton ORE: Murrawombie Open Pit
Tim Brettell
AusIMM
Member
200052
Cameron Schubert
AusIMM
Fellow
111663
Cracow MRE: Western Vein Field and
Golden Plateau
Cracow ORE
Brad Cox
AusIMM
Member
220544
Sam Patterson
AusIMM
Member
332724
Jaguar MRE: Bentley, Jaguar, Teutonic
Bore and Triumph
North Queensland MRE: Barbara, Mt Colin,
Lillymay
North Queensland MRE: Lillymay
Andrew Fowler
AusIMM
Member
301401
Andrew Fowler
AusIMM
Member
301401
Brad Cox
AusIMM
Member
220544
North Queensland ORE: Barbara, Mt Colin
Tim Brettell
AusIMM
Member
200052
Stockman MRE: Currawong, Wilga, Eureka
and Bigfoot
Stockman ORE: Currawong, Wilga
Andrew Fowler
AusIMM
Member
301401
John McKinstry
AusIMM
Member
105824
Mineral Resource and Ore Reserves Statement
12
31 December 2024
Mineral Resource and
Ore Reserves Statement
31 December 2024
Mineral Resource and Ore Reserves Statement
13
31 December 2024
Table of Contents
Group Mineral Resource and Ore Reserve Estimates ...................................................................... 2
Changes in Group Mineral Resources Estimates (net of mining depletion) ............................. 5
Changes in Group Ore Reserves Estimates (net of mining depletion) ...................................... 8
Competent Persons Statements ........................................................................................................ 12
Tritton Operation Mineral Resources & Ore Reserves ..................................................................... 17
Introduction ..................................................................................................................................... 18
Mineral Resource Estimate ............................................................................................................ 19
Material assumptions for Mineral Resource Estimate ............................................................ 21
Changes from prior Mineral Resource Estimate ..................................................................... 26
Ore Reserve Estimate ..................................................................................................................... 29
Material assumptions for Ore Reserve Estimate ..................................................................... 29
Changes from prior Ore Reserve Estimate .............................................................................. 30
Cracow Operation Mineral Resources & Ore Reserves ................................................................. 32
Introduction ..................................................................................................................................... 33
Mineral Resource Estimate ............................................................................................................ 34
Material Assumptions for Mineral Resource Estimate ............................................................ 35
Changes from prior Mineral Resource Estimate ..................................................................... 39
Ore Reserve Estimate ..................................................................................................................... 41
Material Assumptions for Ore Reserve Estimate ..................................................................... 41
Changes from prior Ore Reserve Estimate .............................................................................. 42
Jaguar Project Mineral Resources & Ore Reserves ......................................................................... 44
Introduction ..................................................................................................................................... 45
Mineral Resource Estimate ............................................................................................................ 46
Material Assumptions for Mineral Resource Estimate ............................................................ 47
Changes from prior Mineral Resource Estimate ..................................................................... 51
Ore Reserve Estimate ..................................................................................................................... 54
North Queensland Project Mineral Resources & Ore Reserves ..................................................... 57
Introduction ..................................................................................................................................... 58
Mineral Resource Estimate ............................................................................................................ 59
Material Assumptions for Mineral Resource Estimate ............................................................ 59
Changes from prior Mineral Resource Estimate ..................................................................... 62
Ore Reserve Estimate ..................................................................................................................... 64
Material Assumptions for Ore Reserve Estimate ..................................................................... 64
Stockman Project Mineral Resources & Ore Reserves ................................................................... 68
Mineral Resource and Ore Reserves Statement
14
31 December 2024
Introduction ..................................................................................................................................... 69
Mineral Resource Estimate ............................................................................................................ 69
Material Assumptions for Mineral Resource Estimate ............................................................ 71
Changes from prior Mineral Resource Estimate ..................................................................... 73
Ore Reserve Estimate ..................................................................................................................... 73
Material Assumptions for Ore Reserve Estimate ..................................................................... 73
Changes from prior Ore Reserve Estimate .............................................................................. 74
Appendix JORC Code 2012, Table 1 ............................................................................................... 75
Tritton Operation - JORC Code 2012, Table 1............................................................................. 76
Tritton/South Wing Deposit - Section 1 Sampling Techniques and Data ............................ 77
Tritton/South Wing Deposit - Section 3 Estimation and Reporting of Mineral Resources .. 81
Tritton Deposit - Section 4 Estimation and Reporting of Ore Reserves................................. 85
Budgerygar Deposit - Section 1 Sampling Techniques and Data........................................ 92
Budgerygar Deposit - Section 3 Estimation and Reporting of Mineral Resources ............. 95
Budgerygar Deposit - Section 4 Estimation and Reporting of Ore Reserves ...................... 98
Avoca Tank Deposit - Section 1 Sampling Techniques and Data ..................................... 104
Avoca Tank Deposit - Section 3 Estimation and Reporting of Mineral Resources ........... 107
Avoca Tank Deposit – Section 4 Estimation and Reporting of Ore Reserves ................... 110
Murrawombie Deposit – Section 1 Sampling Techniques and Data ................................. 117
Murrawombie Deposit – Section 3 Estimation and Reporting of Mineral Resources ....... 119
Murrawombie Deposit – Section 4 Estimation and Reporting of Ore Reserves ................ 122
Constellation Deposit – Section 1 Sampling Techniques and Data................................... 126
Constellation Deposit – Section 3 Estimation and Reporting of Mineral Resources ........ 131
Kurrajong Deposit – Section 1 Sampling Techniques and Data ......................................... 135
Kurrajong Deposit – Section 3 Estimation and Reporting of Mineral Resources ............... 137
Cracow Operation - JORC Code 2012, Edition Table 1 .......................................................... 140
Cracow Operation – Section 1 Sampling Techniques and Data ...................................... 141
Cracow Operation – Section 3 Estimation and Reporting of Mineral Resources ............ 145
Cracow Operation – Section 4 Estimation and Reporting of Ore Reserves ..................... 149
Golden Plateau Deposit – Section 1 Sampling Techniques and Data.............................. 155
Golden Plateau Deposit – Section 2 Reporting of Exploration Results .............................. 158
Golden Plateau Deposit – Section 3 Estimation and Reporting of Mineral Resources.... 160
Jaguar Project - JORC Code, 2012, Table 1 ............................................................................. 164
Teutonic Bore Deposit – Section 1 Sampling Techniques and Data .................................. 165
Teutonic Bore Deposit – Section 3 Estimation and Reporting of Mineral Resources........ 168
Jaguar Deposit – Section 1 Sampling Techniques and Data ............................................. 171
Jaguar Deposit – Section 3 Estimation and Reporting of Mineral Resources ................... 175
Triumph Deposit – Section 3 Estimation and Reporting of Mineral Resources .................. 181
Bentley Deposit – Section 1 Sampling Techniques and Data............................................. 184
Bentley Deposit – Section 3 Estimation and Reporting of Mineral Resources................... 188
North Queensland Project - JORC Code 2012, Table 1........................................................... 191
Mt Colin Deposit – Section 1 Sampling Techniques and Data ........................................... 192
Mt Colin Deposit – Section 3 Estimation and Reporting of Mineral Resources ................. 199
Barbara Deposit – Section 1 Sampling Techniques and Data ........................................... 204
Barbara Deposit – Section 3 Estimation and Reporting of Mineral Resources ................. 208
Mineral Resource and Ore Reserves Statement
15
31 December 2024
Barbara Deposit – Section 4 Estimation and Reporting of Ore Reserves .......................... 211
Lilly May Deposit – Section 1 Sampling Techniques and Data ........................................... 215
Lilly May Deposit – Section 3 Estimation and Reporting of Mineral Resources ................. 217
Stockman Project - JORC Code 2012, Table 1 ......................................................................... 221
Currawong & Wilga Deposits – Section 1 Sampling Techniques and Data ...................... 222
Currawong & Wilga Deposits – Section 3 Estimation and Reporting of Mineral Resources
.................................................................................................................................................... 227
Currawong & Wilga Deposits – Section 4 Estimation and Reporting of Ore Reserves..... 233
Eureka & Bigfoot Deposits – Section 1 Sampling Techniques and Data ........................... 239
Eureka & Bigfoot Deposits – Section 3 Estimation and Reporting of Mineral Resources . 243
Mineral Resource and Ore Reserves Statement
16
31 December 2024
Tritton Operation
Mineral Resources & Ore Reserves
The reported December 2024 Tritton Operation Mineral Resource
totals 18.9Mt for 314kt Cu metal, 233koz Au metal and 2,140koz Ag
metal.
This represents a 16% tonnage decrease, 8% copper metal
decrease, 1% gold metal increase and 25% silver metal decrease
in comparison to the 31 December 2023 reported figures.
The reported December 2024 Tritton Operation Ore Reserve totals
2.4Mt for 37kt Cu metal, 23koz Au metal and 440koz Ag metal.
This represents a 15% tonnage decrease, 11% copper metal
decrease, and 2% gold metal decrease and 2% silver metal
decrease in comparison to the 31 December 2023 reported
figures.
Mineral Resource and Ore Reserves Statement
17
31 December 2024
Introduction
The Tritton Operation is located 45 km north-west of Nyngan in central-western New South
Wales (Figure 11). The operation comprises numerous copper deposits and several operating
mines that feed a centralised processing facility.
Figure 11: Tritton Operation location map
Mineral Resource and Ore Reserves Statement
18
31 December 2024
Mineral Resource Estimate
The Mineral Resource estimates (MREs) for the Tritton Operation as of 31 December 2024 are
summarised in Table 4.
The updated MREs represent a 16% tonnage decrease, 8% copper metal decrease, 1% gold
metal increase and 25% silver metal decrease in comparison to the 31 December 2023
reported figures.
Table 4: Tritton Operations MRE at 31 December 2024
Deposit
Tritton
South Wing
Tritton Remnants
Murrawombie
Open Pit
(oxide)
Murrawombie
Open Pit
(supergene/sulphide)
Murrawombie
Underground
Murrawombie Total
Avoca Tank
Budgerygar
Constellation
Open Pit
(oxide)
Constellation
Open Pit
(supergene/sulphide)
Category
Tonnes
(kt)
Grade
Contained Metal
Measured
Indicated
Inferred
Total
Measured
Indicated
Inferred
Total
Measured
Indicated
Inferred
Total
Measured
Indicated
Inferred
Total
Measured
Indicated
Inferred
400
400
600
1,400
-
Cu
(%)
1.1
1.2
1.2
1.2
-
600
600
200
200
0
100
100
1,000
700
1.5
1.5
2.5
2.5
1.6
0.5
0.6
1.3
0.4
0.3
0.3
0.2
0.2
0.1
0.0
0.1
0.2
0.1
8
8
8
8
3
1
1
4
2
9
9
4
4
0
0
1
13
2
5
5
1
1
0
0
0
7
1
160
160
40
40
0
0
0
130
30
Total
Measured
Indicated
Inferred
Total
1,700
1,100
200
1,400
3,200
400
100
500
1,000
1,000
2,000
1,500
1,500
2,600
600
3,200
0.9
1.3
1.0
1.2
1.0
3.8
3.3
3.7
1.5
1.2
1.4
0.6
0.6
2.3
3.5
2.5
0.2
0.3
0.2
0.3
0.2
0.9
0.9
0.9
0.2
0.1
0.1
0.2
0.2
0.9
0.5
0.8
3
4
4
4
3
18
17
17
7
3
5
1
1
4
3
3
15
15
2
17
32
17
3
20
15
12
27
9
9
60
20
79
9
10
1
11
20
13
3
16
7
2
8
9
9
73
9
83
160
150
30
170
330
250
50
300
210
80
300
50
50
290
60
350
Measured
Indicated
Inferred
Total
Measured
Indicated
Inferred
Total
Measured
Indicated
Inferred
Total
Measured
Indicated
Inferred
Total
Mineral Resource and Ore Reserves Statement
19
Au
(g/t)
0.1
0.1
0.0
0.1
-
Ag
(g/t)
2
2
2
2
-
Cu
(kt)
4
5
7
16
-
Au
(koz)
1
1
1
3
-
Ag
(koz)
30
30
30
100
-
31 December 2024
Deposit
Constellation
Underground
Constellation Total
Budgery
Open Pit
(oxide)
Budgery
Open Pit
(supergene/sulphide)
Budgery
Underground
Budgery Total
Kurrajong
ROM Stockpiles
Total
Measured
Indicated
Inferred
Total
Measured
Indicated
Inferred
Total
1,200
1,730
2,900
7,600
0
0
0
1,000
100
1,100
400
100
600
1,700
1,700
1,700
100
100
Cu
(%)
2.1
2.3
2.2
2.0
1.4
0.9
1.4
1.3
1.3
1.3
1.0
0.9
1.0
1.2
1.9
1.9
0.7
0.7
Grade
Au
(g/t)
0.8
0.7
0.7
0.7
0.1
0.0
0.1
0.2
0.2
0.2
0.1
0.0
0.1
0.1
0.2
0.2
-
Ag
(g/t)
3
2
2
3
6
6
-
Measured
400
1.0
0.1
2
4
1
30
Indicated
11,000
1.6
0.4
4
179
158
1,270
Inferred
7,500
1.8
0.3
4
131
73
840
Grand Total
18,900
1.7
0.4
4
314
233
2,140
Category
Measured
Indicated
Inferred
Total
Measured
Indicated
Inferred
Total
Measured
Indicated
Inferred
Total
Measured
Indicated
Inferred
Total
Tonnes
(kt)
Contained Metal
Cu
Au
Ag
(kt)
(koz) (koz)
25
31
120
40
39
90
65
69
210
153
161
610
0
0
0
0
0
0
13
5
1
1
14
6
4
2
1
0
5
2
20
7
33
11
300
33
11
300
0
0
-
Notes:
•
Tritton Operation open pittable Mineral Resource figures are reported from within optimised pit shells. The
Constellation open pittable material is reported using a net smelter return (NSR) cut-off between A$18/t or
A$59/t, depending on the processing stream and mining costs. The Murrawombie open pittable material is
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