AIC Mines Limited (ASX: A1M) ('AIC' or the 'Company') is pleased to announce that it has applied for two large exploration licences in western New South Wales that are prospective for both base and precious metals (the 'Delamerian Project').
The applications offer belt-scale exploration opportunities in an emerging, underexplored province in a premier operating jurisdiction.
OVERVIEW
The applications cover 4,280 km2 comprising of a 1,936km2 application over the northern end of the Koonenberry Belt east of Tibooburra and a further 2,344km2 capturing a dominant position of the Loch Lilly-Kars Belt,southeast of Broken Hill.
The applications represent a low-cost entry to a belt-scale exploration opportunity prospective for multiple deposits styles - namely mafic-ultramafic intrusive related Ni-Cu deposits, volcanogenic massive sulphide Cu-Zn-Pb deposits and felsic magmatic related Cu-Au deposits.
The Delamerian Orogen represents a largely under-explored cratonic margin setting analogous to other highly endowed provinces in Australia, such as the Paterson Orogen and Albany-Fraser Orogen.
The project provides an early-mover opportunity to leverage data currently being collected in the region by state and federal government geology departments and the federally funded MinEx Cooperative Research Centre.
Commenting on the applications, Managing Director Aaron Colleran said 'This new project is a valuable addition as we move to expand our exploration portfolio. It is an early-mover opportunity where government investment into unlocking exploration potential is underway. This will allow AIC to leverage off new regional datasets and mineral system knowledge. We continue to look for new high-quality copper and gold exploration projects, from greenfields through to advanced stage, with the aim of building a balanced project pipeline.
Delamerian Project
AIC has applied for two large exploration licences in the Delamerian Orogen in western New South Wales. The applications encompass an area of 1,936km2 at the northern end of the Koonenberry Belt, 60 kilometres east of Tibooburra (ELA6413) and an area of 2,344km2 in the Loch Lilly-Kars Belt (ELA6414), 55 kilometres southeast of Broken Hill
Contact:
Aaron Colleran
Email: info@aicmines.com.au
Forward-Looking Statements
This Announcement includes 'forward-looking statements' as that term within the meaning of securities laws of applicable jurisdictions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that are in some cases beyond AIC Mines' control. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts contained in this announcement, including, without limitation, those regarding AIC Mines' future expectations. Readers can identify forward-looking statements by terminology such as 'aim,' 'anticipate,' 'assume,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'forecast,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'project,' 'risk,' 'should,' 'will' or 'would' and other similar expressions. Risks, uncertainties and other factors may cause AIC Mines' actual results, performance, or achievements to differ materially from those expressed or implied by the forward-looking statements (and from past results, performance or achievements). These factors include, but are not limited to, the failure to complete the project in the time frame and within estimated costs currently planned; the failure of AIC Mines' suppliers, service providers and partners to fulfil their obligations under supply and other agreements; unforeseen geological, physical or meteorological conditions, natural disasters or cyclones; changes in the regulatory environment, industrial disputes, labour shortages, political and other factors; the inability to obtain additional financing, if required, on commercially suitable terms and global and regional economic conditions. Readers are cautioned not to place undue reliance on forward-looking statements.
AIC MINES LIMITED 
