AIC Mines Marks Jolly as First Mining Zone at Jericho Copper

Jericho's total Mineral Resources stand at 22.1 million tonnes containing 444,900 tonnes of copper and 275,800 ounces of gold, per a March 2026 update. Ore Reserves for Jericho sit at 7.1 million tonnes at 1.8% copper and 0.4 g/t gold, containing 125,400 tonnes of copper. Jolly, previously referred to as the J1 lens, is now being prioritised because it offers the most direct path to first production.

On the permitting side, the company noted Mining Lease 100348 is secure and compliant with conditions of grant. Native title clearances and conduct-and-compensation agreements are in place.

The next step is more definition drilling at depth from both surface and underground platforms during calendar 2026. Drilling is still required, particularly in Inferred areas north of the access drive. Whether future holes maintain continuity beyond the initial stoping front is one open question. The larger question is whether AIC can convert these drilling results into timely ore feed while managing the plant expansion and funding needs through late 2026. The company has not disclosed updated cost estimates for the expansion, leaving the margin for error unclear.

For context on the broader outlook for metals and mining, see our commodities analysis.