AIC Mines Hits 249g/t Gold Near Eloise Copper Mine

6 August 2026 | Queensland - AIC Mines has reported exceptionally high-grade gold and encouraging copper results from regional exploration near its operating Eloise Copper Mine in North Queensland.

The standout result came from the Eloise South prospect, located approximately 2km south of the Eloise mine, where diamond hole ESDD007 intersected:

• 3.2m at 92.5 g/t gold from 446.4m, including
• 1.2m at 249 g/t gold from 448.4m

AIC Mines said the gold is hosted within a stockwork of quartz-sulphide veins near the contact between arenite and biotite schist.

A downhole electromagnetic survey also identified a conductive unit corresponding with the position of the gold mineralisation, providing a target for further drilling.

The company also reported new copper results from the Iris prospect, approximately 5km north of the Eloise mine and processing plant.

Results included:

• 12m at 1.0% copper and 0.3 g/t gold from 227m, including 2m at 4.4% copper and 1.5 g/t gold
• 7.7m at 0.7% copper and 0.2 g/t gold from 347.4m
• 1.8m at 1.1% copper and 0.2 g/t gold from 317.2m

Why it matters: Drilling has now defined copper mineralisation at Iris over approximately 1.5km of strike, with the system remaining open to the north, south and at depth.

Iris occurs along the same regional structure that hosts the Eloise and Jericho copper deposits. AIC Mines believes the higher-grade copper intervals may indicate plunging shoots within the broader mineralised zone, similar to those at Jericho.

Further drilling is planned at both Iris and Eloise South during the current field season.

For Queensland’s copper and gold sector, the results highlight significant exploration potential within short haulage distance of an established underground mine and processing operation.

Source: AIC Mines ASX announcement, “Eloise Regional Exploration Update”, 6 August 2026.