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  • Aeris Resources (AIS) identifies new structures through drilling at its Golden Plateau deposit in Queensland
  • Drilling began last September along the east-west trend, and through the program, AIS identified north-south trending structures that control the mineralisation
  • The latest drilling results include 11 metres at 7.4 g/t gold and were seen in a northern structure which will be one of the main focuses of the program moving forward
  • Resource definition drilling is ongoing, and the company will use the data to inform a maiden mineral resource estimate scheduled for release later this year
  • AIS shares are down 2.25 per cent to trade at 8.7 cents at 1:49 pm AEST.

Aeris Resources (AIS) has received new high-grade gold results from drilling at its Golden Plateau deposit in Queensland.

The deposit is part of Aeris’ Cracow gold operations and previously produced over 850,000 ounces of gold between the 1930s and 1990s.

The company’s current resource definition drilling program began in September last year and initially aimed to define bulk low-grade mineralisation along the east-west trending quartz lode.

However, when intersecting the east-west trending veins, Aeris identified north-south trending, steeply-dipping structures that control the high-grade mineralisation.

Based on the observations, Aeris said it believed there were multiple high-grade shoots within the broad, low-grade mineralised area that were worth following up.

The latest results come from the north lode and include 11 metres at 7.4 grams per tonne (g/t) gold, 10 metres at 4.1 g/t gold including 1.5 metres at 9.3 g/t gold, and eight metres at 3.3 g/t gold.

Executive Chairman Andrew Labuschagne said the results were “very exciting”.

“Not only are we getting high-grade gold intercepts within the footprint of the known deposit, but we have also identified multiple new north-south structures,” he said.

Mr Labuschagne said Aeris’ understanding of the controls of mineralisation had significantly improved over the course of the drilling program.

“These new structures have largely been ignored during previous drill campaigns at Golden Plateau and remain untested. The current drill program will now focus on testing the potential for high-grade shoots within these structures.”

Once drilling is completed at the Golden Plateau deposit, the company will use the data to complete a maiden mineral resource estimate, currently slated for release during the September quarter.

AIS shares were down 2.25 per cent to trade at 8.7 cents at 1:49 pm AEST.

AIS by the numbers
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