Overview
The Company’s annual Mineral Resources and Ore Reserves estimates are reported for its 100% owned Eloise Project, located in North Queensland. The Eloise Project consists of the Eloise copper mine and the Jericho, Sandy Creek and Artemis copper deposits. The Mineral Resources and Ore Reserves 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 Code 2012”).
AIC Mines reviews and reports its Mineral Resources and Ore Reserves at least annually. The date of reporting is typically 31 December each year, to coincide with the Company’s annual mine planning and budgeting cycle. Intra-cycle updates were reported for the Jericho Mineral Resources and Ore Reserves following completion of the acquisition and then completion of detailed mining studies.
Mineral Resources
Combined Eloise Project Mineral Resources total 31.2 million tonnes grading 2.0% copper and 0.4g/t gold containing 631,800 tonnes of copper and 445,000 ounces of gold. The Mineral Resources estimates are based on a long-term copper price of A$11,000/t.
Eloise Project – Combined Mineral Resources (as at 31 December 2025)
Notes:
Tonnages have been rounded to the nearest 1,000 tonnes.
Eloise and Jericho Mineral Resources are inclusive of Ore Reserves. There is no certainty that Mineral Resources not included in Ore Reserves will be converted to Ore Reserves.
Eloise Mineral Resources are estimated using a 1.1% Cu cut-off above 0mRL and 1.5% Cu below 0mRL.
Jericho Mineral Resources are estimated using a 1.1% Cu cut-off within optimised stope shapes.
Sandy Creek and Artemis Mineral Resources are estimated using a 0.5% Cu cut-off.
For a more detailed breakdown of the Mineral Resources, please download the PDF.
Ore Reserves
Combined Eloise Project Ore Reserves total 10.2 million tonnes grading 1.9% copper and 0.4g/t gold containing 191,000 tonnes of copper and 139,600 ounces of gold. The Ore Reserves estimates are based on a long-term copper price of A$11,000/t.
Eloise Project – Combined Ore Reserves (as at 31 December 2025)
Notes:
Resource tonnes have been rounded to the nearest 1,000 tonnes.
Eloise Ore Reserves are estimated using a 1.3% Cu cut-off above 0mRL and 1.8% Cu below 0mRL.
Jericho Ore Reserves are estimated using a 1.1% Cu cut-off within optimised stope shapes.
For a more detailed breakdown of the Ore Reserves, please download the PDF.
Competent Persons Statement
Eloise Mineral Resources
The information in this report that relates to the Eloise Mineral Resource is based on information, and fairly represents information and supporting documentation compiled by Matthew Thomas who is a member of the Australasian Institute of Mining and Metallurgy and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they have undertaken to qualify as a Competent Person as defined in the JORC Code 2012. Mr Thomas is a full-time employee of AIC Copper Pty Ltd and is based at the Eloise Copper Mine. Mr Thomas consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
Jericho Mineral Resources
The information in this report that relates to the Jericho Mineral Resource is based on information, and fairly represents information and supporting documentation compiled by Matthew Fallon who is a member of the Australasian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they have undertaken to qualify as a Competent Person as defined in the JORC Code 2012. Mr Fallon is a full-time employee of AIC Mines Limited. Mr Fallon consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
Sandy Creek and Artemis Mineral Resources
The information in this report that relates to the Sandy Creek and Artemis Mineral Resources is based on information, and fairly represents information and supporting documentation compiled by David Price who is a member of the Australasian Institute of Mining and Metallurgy and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they have undertaken to qualify as a Competent Person as defined in the JORC Code 2012. Mr Price is a full-time employee of AIC Mines Limited. Mr Price consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
Eloise Ore Reserves
The information in this report that relates to the Eloise Ore Reserve is based on information, and fairly represents information and supporting documentation compiled by Randy Lition who is a member of the Australasian Institute of Mining and Metallurgy and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the JORC Code 2012. Mr Lition is a full-time employee of AIC Copper Pty Ltd and is based at the Eloise Mine. Mr Lition consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
Jericho Ore Reserves
The information in this report that relates to the Jericho Ore Reserve is based on information, and fairly represents information and supporting documentation compiled by Craig Pocock who is a member of the Australasian Institute of Mining and Metallurgy and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they have undertaken to qualify as a Competent Person as defined in the JORC Code 2012. Mr Pocock is a full-time employee of AIC Mines Limited. Mr Pocock consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.