AIC Mines Drills 5.6-Metre High-Grade Gold Mineralized Interval in Australia

en.Wedoany.com Reported - On October 19, Australian mining company AIC Mines announced the results of the first diamond drill hole at the Oro Grande prospect in Queensland, intersecting a 5.6-metre gold mineralized interval at a depth of 493 metres with a gold grade of 5.1 g/t. The prospect is located approximately 45 kilometres south of the company's operating Eloise copper mine and forms part of the 1,800-square-kilometre Eloise regional exploration project. The drill hole also intersected copper, silver and zinc mineralization.

The drilling identified two distinct mineralized zones, upper and lower. The upper copper-gold-silver mineralized zone begins at a depth of 236.6 metres, with a 7.4-metre intersection averaging 0.1% copper, 0.2 g/t gold and 1 g/t silver. The lower mineralized zone returned a 1.6-metre zinc mineralized interval at a depth of 455.4 metres grading 1.4% zinc, and a further 2-metre zinc mineralized interval at a depth of 467 metres grading 1.7% zinc.

The Oro Grande drill target was defined based on the results of a 2025 ground electromagnetic survey, which identified three strong conductive anomalies distributed along strike over approximately 1 kilometre. The drill hole tested two of these conductive anomalies, which are stacked vertically. Subsequent downhole electromagnetic surveys confirmed that the target conductor extends approximately 1 kilometre along strike and continues both up-dip and down-dip.

The drilling was funded with A$185,000 from the Queensland Government's Collaborative Exploration Initiative. No previous drilling records exist within a 3-kilometre radius of the Oro Grande target area. AIC Mines plans to conduct follow-up drilling during the 2027 field exploration season to further determine the spatial extent and continuity of the gold, copper and zinc mineralized zones.