Established Australian copper and gold producer and explorer Aeris Resources Limited (ASX: AIS) has provided an update on progress at its Cracow Gold Operations following completion of the acquisition on 1 July 2020.
Aeris Resources Executive Chairman, Andre Labuschagne, commented: “It has been a busy month for the Cracow Team as they transition into the Aeris family. I am delighted to report that everything is progressing according to plan and that Cracow produced 8,138 ounces of gold during the month of July, which was above expectations.
“Cracow has been a well-run operation so this is not about fixing things, it is about driving the asset hard and also ramping-up exploration in line with our stated strategy. The next 12 months will be a really exciting time for both Cracow and Aeris,” he said.
Mr Labuschagne said that the Company’s near-mine exploration work has already commenced with an RC drilling program at the Klondyke and Roses Pride deposits. He also said that assay results are pending and that Aeris is targeting to progress these to an open pit Inferred Mineral Resource status by the end of December 2020.
“An underground diamond drill rig is due to arrive on site in mid-August to test a number of near-mine targets including the Kenneth target, which has a similar geological setting to the nearby Kilkenny ore shoot, which is being mined,” he said.
“Importantly, the Cracow geology team are excited about a number of greenfields exploration targets on the tenement package, including Roses Pride Deeps, Ballymore and NW Corridor. We intend to start drilling at each of these areas over the course of the year.”
Mr Labuschagne said that FY2021 gold production guidance remains at 70koz to 75koz @ C1 Cash Cost of A$980/oz.