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Aeris Resources grows Golden Plateau potential at Cracow with hits up to 8.9 metres at 16 g/t

Published 04/10/2022, 11:13 am
Updated 04/10/2022, 11:30 am
© Reuters.  Aeris Resources grows Golden Plateau potential at Cracow with hits up to 8.9 metres at 16 g/t
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Aeris Resources Ltd (ASX:AIS) continues to enhance the gold potential of Golden Plateau deposit within the 100%-owned Cracow Project tenement package in southeast Queensland with further high-grade intersections.

Resource definition drilling has returned up to 8.9 metres at 16.0 g/t gold from 224 metres and 2.8 metres at 11.8 g/t from 268.2 metres with other results including:

  • 2.7 metres at 7.6 g/t from 113 metres; and
  • 1.6 metres at 4.4 g/t from 215.5 metres.
The high-grade hits continue to support a revised geological interpretation of north-south structures controlling mineralisation.

Encouraging results

Aeris’ executive chairman Andre Labuschagne said: “The further high-grade drill results from Golden Plateau are very encouraging.”

A further 16 drill holes have been completed and assay results have been returned for 15 holes. Drilling has focused on testing three of the five priority targets - Western, Harrys and King lodes.

Harrys returned the 2.8-metre and 1.6-metre intersections while Western returned the 2.7-metre hit and Chas Lode, a new high-grade structure immediately west from King, the 8.9-metre result.

Potential for further structures

"The priority Western lode has now been defined over a 180-metre strike length and remains open in both directions,” Labuschagne continued.

"The successful intersection of high-grade gold mineralisation at the Chas Lode indicates the potential for further mineralised structures beyond the five current priority targets.”

Resource definition drilling at Western Lode has traced gold mineralisation 180 metres along strike and 50 metres down plunge.

The Western Lode has some historical mining along it with multiple development drives and some stoping.

Aeris' current drill program is targeting mineralisation above the historical stoping front and continues to intersect mineralisation along strike (south) beyond the mining front. The mineralised system remains open along strike in both directions.

New lode

A high-grade intersection confirmed previous interpretations of a parallel high-grade structure immediately west from the King lode, referred to as Chas.

Limited drilling along the Chas Lode has defined a high-grade shoot which remains open along strike and down plunge. The extent of the Chas lode will be investigated with future drill programs.

Moving forward

Aeris said that as the drill program progressed and the geological understanding improved, it was becoming increasingly evident that there was greater potential to discover additional high-grade north-south structures at Golden Plateau with potential to extend mine life at Cracow.

Resource definition drilling will continue throughout the first half of FY23. The program is focused on testing five high-priority lodes in proximity to previously mined high-grade shoots.

Drill data from the completed drill program will be used to inform a maiden mineral resource for the deposit, targeted for the current half.

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