Aeris drives Cracow hard since acquisition

Aeris Resources has surpassed its production expectation for the Cracow gold mine in Queensland within a month of acquiring the site from Evolution Mining.

The mine delivered 8138 ounces in July, which according to Aeris chairman Andre Labuschange was above expectations.

Labuschagne said the company had been busy transitioning the existing Cracow team into the Aeris “family”, and that everything was progressing according to plan.

“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,” he said.

Aeris has also started near-mine exploration work, including a reverse circulation (RC) drilling program at the Klondyke and Roses Pride deposits.

While assay results are still pending, Aeris plans to progress these to an open pit inferred mineral resource status by the end of the year.

An underground diamond drill rig is due to arrive at Cracow in mid-August to test near-mine targets, including the Kenneth target, which hosts similar geology to the Kilkenny ore shoot that is already mined.

“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,” Labuschagne said.

“We intend to start drilling at each of these areas over the course of the year.”

Aeris’ gold production guidance for the 2021 financial year remains unchanged at 70,000 to 75,000 ounces at a cash cost of $980 per ounce.

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