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- Aeris Resources (AIS) has updated the mineral resource for the Roses Pride deposit at the Cracow Gold Operations in Queensland
- The updated mineral resource contains 177,000 tonnes at 4.6g/t gold for 26,100 ounces of gold
- Interestingly, it represents a 206 per cent increase in total contained gold ounces from the previous mineral resource in December 2019
- The update was calculated from drilling completed in June last year
- Mineralisation at Roses Pride remains open along strike and further drilling has been planned for the first half of the year
- Aeris is down 2.08 per cent on the market and shares are trading at 11.8 cents
Australian copper-gold explorer and producer Aeris Resources (AIS) has updated the mineral resource for the Roses Pride deposit.
Roses Pride is part of Aeris’ Cracow Gold Operations, which lie 500 kilometres northwest of Brisbane in Queensland.
The updated mineral resource contains 177,000 tonnes at 4.6g/t gold for 26,100 ounces of gold.
This represents a 206 per cent increase in total contained gold ounces from the previous mineral resource in December 2019.
Surface reverse circulation (RC) drilling was completed in June at Roses Pride with aims to test the up-plunge and along strike continuity of the mineralised system.
48 RC holes were drilled and returned best results of 19 metres at 5.45g/t gold, five metres at 5.33g/t gold and 10 metres at 5.13g/t gold.
Promisingly, Aeris intersected gold mineralisation along the entire 400-metre strike length.
Once this work was completed the results were used to calculate the updated mineral resource.
“The increased mineral resource at Roses Pride is a pleasing result and demonstrates the brownfields exploration opportunities that we believe exist at Cracow,” Executive Chairman Andre Labuschagne commented.
Mineralisation at Roses Pride remains open along strike and further drilling has been planned for the first half of the year.
Aeris is down 2.08 per cent on the market and shares are trading at 11.8 cents at 12:33 pm AEDT.
