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Aeris Resources boosts Cracow gold bounty with upgraded Roses Pride resource

The company has a growing portfolio of copper and gold operations, development projects and exploration prospects and has a clear vision to become a mid-tier mining company with a focus on gold and base metals.

Aeris Resources Ltd - Aeris Resources boosts Cracow gold bounty with upgraded Roses Pride resource
The upgraded resource contains 177,000 tonnes at 4.6 g/t gold for 26,100 ounces.

Aeris Resources Ltd (ASX:AIS) continues to grow the gold bounty within the Cracow operations in Queensland with a 260% increase in resources at Roses Pride deposit.

The updated JORC 2012-compliant mineral resource contains 177,000 tonnes at 4.6 g/t gold for 26,100 ounces compared to the previous 7,300-ounce resource and mineralisation remains open along strike.

There are 15,600 ounces in the indicated category and 10,500 ounces in the inferred category.

The updated resource also includes 12,100 ounces of silver at a grade of 2.2 g/t while the previous estimate did not include silver.

“Pleasing result”

Aeris’ executive chairman Andre Labuschagne said: “The increased mineral resource at Roses Pride is a pleasing result and demonstrates the brownfields exploration opportunities that we believe exist at Cracow.”

The company is forecasting to produce between 23,500 and 24,500 tonnes of copper from its Tritton Copper Operation in NSW in the current financial year and between 70,000 and 75,000 ounces of gold from its Cracow operation.

Resource growth

A near-surface reverse circulation (RC) drill program completed in June 2020 targeting mineralisation along strike from the mined Roses Pride deposit is largely responsible for the increased resource.

Material changes from the previous Roses Pride resource include the conversion of additional mineralisation to JORC classified indicated and inferred categories.

The increased inventory is based on a combination of additional drilling data and an alternate reporting schema.

The updated mineral resource was reported from within nominal 2.2 g/t gold cut-off shells.

Mineralisation at the Roses Pride deposit remains open along strike to the north and further drilling planned in the first half of 2021.

The Roses Pride high-grade deposit represents the northernmost deposit mined at Cracow since modern mining commenced in 2004.

Underground activities at Roses Pride accessed and mined the deposit to 200 metres below surface.

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ASX:AIS
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