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Aerial Drone of NSS @ Work

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Cracow gold mine owner Aeris Resources has announced a 324 per cent increase in gold ounces at the site’s combined Klondyke and Royal deposits.

The company is now working to schedule the upgraded deposits into Cracow’s life of mine plan.

“We have always been confident that there is more gold to be found at Cracow, either from exploration activities, including drilling, or by challenging the paradigms around what is economically mineable,” executive chairman Andre Labuschagne said.

“The significant increase in the Mineral Resource at the Klondyke and Royal deposits confirms our view.”

The deposits are located along the south eastern margin of current underground mining activities within the Western Field at Cracow.

The boost to the mineral resource stems from a revision of the geological information for the area and additional gold mineralisation identified in Aeris’s June 2020 drilling program.

The updated mineral resource estimate of 341,000 tonnes at 3.6 grams per tonne gold for 39.5 thousand ounces of gold represents a 324 per cent increase in total contained gold ounces, compared to the previously reported mineral resource in June 2020.

Aeris bought the Cracow gold operations, with a tenement package covering 903sq km, from Evolution Mining last year for about $125 million.

As the Central Queensland assets changed hands, Aeris committed to spending about $13 million over two years for exploration to increase the resource base at Cracow and extend the mine life.