AIC Mines (ASX:A1M) started diamond drilling at the Jericho deposit in the Eloise regional project in Queensland, according to a Thursday filing with the Australian bourse.
The company plans to drill roughly 9,000 meters of diamond drilling and 2,700 meters of reverse circulation at the deposit, primarily for resource definition at the Matilda North, Jolly, Swagman, and Tucker shoots, the filing said.
Drilling is underway to grow resources and convert inferred resources to indicated category in the northern half of the deposit, with further resource definition planned for potential mining fronts, per the filing.
Shares rose past 8% in morning trade Thursday.
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