Cracow gold project begins to take shape for Aeris
Aeris Resources’ decision to buy the Cracow gold project is looking good after it revealed a 260 per cent increase in total contained gold in an updated resource at its Roses Pride deposit.
Aeris Resources has raised $50m on the market.
The new mineral resource is for 177,000 tonnes at 4.6 grams per tonne of gold. That represents 26,000 ounces.
The company said a surface drill program completed last year was responsible for the increase.
It said mineralisation at Roses Pride remained open to the north and further drilling would be done this year.
Executive chairman Andre Labuschagne said it was a pleasing result and demonstrated the brownfield exploration potential at Cracow.
Roses Pride is the northernmost deposit mined at Cracow since mining began in 2004, some of it at depths of 200 metres.
Aeris also recently sold its Yandan project to GBM Resources.
