Aug 31, 2020

Rosy start to Aeris’ $13m exploration plunge

Rosy start to Aeris’ $13m exploration plunge

Aeris Resources has reported early success in drilling at the Roses Pride gold deposit – a priority target among the tenements it acquired as part of the recent Cracow mine acquisition.

The company has completed a 48-hole near-surface reverse-circulation drilling campaign at the deposit, intersecting gold mineralisation intersected over a 400m strike length.

Aeris Resources completed the acquisition of the Cracow gold operations from Evolution Mining in July in a $125 million deal.

“During due diligence the Roses Pride deposit was identified as a priority exploration target with near-term potential to be added to the Life of Mine plan,” Aeris executive chairman Andre Labuschagne said.

“The results from the drill program confirm this view and we will now expedite the work required to convert the drill results into a mineral resource.

“This success at Roses Pride supports our view that the Cracow tenements have significant exploration upside, both brownfield and greenfield, which is why we have committed a $13 million exploration budget at Cracow over the next two years.”

Aeris Resources executive chairman Andre Labuschagne at Cracow mine.