- Aeris Resources (AIS) receives “highly encouraging” drill results from the Golden Plateau deposit in Queensland
- The resource definition drilling program has intersected a shallow, high-grade gold shoot that sits adjacent to historical workings
- Six holes intersected the shoot over 90 metres of strike and returned results of four metres at 19.4 g/t gold
- The drilling program is ongoing and results will be used to deliver a maiden mineral resource estimate for the Golden Plateau deposit later this year
- Company shares are up 3.33 per cent to trade at 15.5 cents
Aeris Resources (AIS) has intersected a shallow, high-grade gold shoot in drilling adjacent to historical workings at the Golden Plateau deposit in south-east Queensland.
The deposit is located within the company’s Cracow tenement package.
The company began a resource definition drilling program in September last year which was designed to test extensions to mined shoots, test gold grades within underexplored areas, and to validate the current void model.
More broadly, the program’s aim is to provide Aeris with enough confidence in the geology and continuity of gold mineralisation.
In the latest results, from 80 metres below surface, six drill holes intersected the gold shoot over a 90-metre strike with results including four metres at 19.4 g/t gold, four metres at 11.1 g/t gold, and 4.75 metres at 5.4 g/t gold.
So far, 35 drill holes have been completed with assays now returned for 22 holes.
Executive Chairman Andre Labuschagne said the results are “highly encouraging”.
“High grade intersections have been recorded across a majority of the Golden Plateau mineralised system and we are targeting a maiden mineral resource estimate (MRE),” he said.
The resource definition program is ongoing and the data will be used to deliver an initial MRE for the Golden Plateau deposit in the September quarter.
Company shares were up 3.33 per cent to trade at 15.5 cents at 2:45 pm AEST.