Aeris Resources Limited (ASX: AIS), an established Australian copper-gold producer and explorer, has announced an update on its activities at the Golden Plateau deposit, situated within the company’s 100%-owned Cracow tenement package in Queensland. A large volume of mineralisation has been identified around the historical underground workings, extending down to 150m below the bottom of the existing pit. The company has developed a grade model based on a large amount of historical data to assist with the next phase of exploration.
The Golden Plateau deposit is located within current mining leases, 1km north from the Cracow Processing Facility and 2km east from current underground mining operations at the Western Vein Field. According to the company, the deposit is situated along a regional northwest trending structural corridor, traced over a 7-10km strike length, with anomalous gold mineralisation identified along most of the prospective corridor. The company’s Executive Chairman, Andre Labuschagne, said the historical production from the Golden Plateau area highlights the significance of this mineralised system.
A diamond drill program of approximately 7,000m is planned to test extensions to mineralisation below and along strike from the current pit. The drilling program is designed to update the geological model in support of defining a JORC-compliant Exploration Target, according to the announcement. Aeris said that data from the drilling program will be assessed to determine what additional drilling is required to support the development of a Mineral Resource. Any new Mineral Resource defined will be incorporated into the existing reported Mineral Resource for Golden Plateau.
Aeris Resources is prioritising exploration at Golden Plateau with the drill program to be completed this financial year, according to Labuschagne. The company believes that this near-term ore source could have a significant impact on extending the Cracow life-of-mine plan. Aeris Resources is a mid-tier base and precious metals producer. Its copper dominant portfolio comprises two operating assets, multiple development projects and a highly prospective exploration portfolio.
