Golden Plateau’s Future Hinges on Drill Results Amid Historical Data Challenges
Aeris Resources is advancing exploration at its Golden Plateau deposit with a significant drilling campaign aimed at expanding mineralisation and defining a new Exploration Target. The initiative could extend the life of its Cracow gold operations in Queensland.
- Internal grade model reveals mineralisation extending 150m below existing pit
- Planned 7,000m diamond drilling to test extensions and validate historical data
- Focus on defining a JORC-compliant Exploration Target for potential open-pit mining
- Golden Plateau historically produced approximately 850,000 ounces of gold
- Drilling to support geological, metallurgical, and environmental assessments
Historical Significance and Location
Aeris Resources Limited (ASX, AIS) has provided a detailed update on its Golden Plateau project, a key asset within its Cracow tenement package in Queensland. The deposit, situated just one kilometre north of the Cracow Processing Facility, has a rich mining history dating back to the 1930s, with underground and open-pit operations producing approximately 850,000 ounces of gold to date. This legacy underscores the deposit's significance within the broader Cracow goldfield.
New Geological Insights and Modelling
Leveraging over 1,200 historical drill holes and detailed sectional interpretations, Aeris has developed an internal grade model that highlights a substantial volume of mineralisation extending up to 150 metres below the bottom of the existing pit. While this model is not JORC-compliant and serves primarily as an internal planning tool, it provides a promising indication of the deposit's potential beyond previously mined zones. The complex structural geology, featuring 33 mineralised lodes with varying orientations, suggests opportunities for both high-grade shoots and broader low-grade mineralisation.
Upcoming Drill Program and Objectives
To validate and expand on these findings, Aeris plans a comprehensive 7,000-metre diamond drilling program within the current financial year. This program aims to collect representative samples, twin historical high-grade intersections, and gather critical geological, geotechnical, metallurgical, and environmental data. The results will underpin the definition of a JORC-compliant Exploration Target, which could pave the way for a larger-scale open-pit mining operation, potentially extending the Cracow mine life.
Strategic Implications for Aeris
Executive Chairman Andre Labuschagne emphasised the strategic importance of Golden Plateau, noting its potential to contribute near-term ore feed and extend the operational horizon of Cracow. The focused exploration effort reflects Aeris’s broader commitment to organic growth through disciplined resource development and underscores the company’s confidence in its Queensland assets.
Looking Ahead
While historical data provides a strong foundation, the selective sampling and non-compliant nature of past assays mean that the upcoming drilling results will be critical in confirming the deposit’s true potential. The integration of new data into a JORC-compliant framework will be a key milestone, influencing future resource statements and investment decisions.
Bottom Line?
Aeris’s drilling campaign at Golden Plateau could redefine Cracow’s future, but the market awaits JORC validation.
Questions in the middle?
- Will the new drilling confirm substantial extensions of mineralisation below the existing pit?
- How might updated metallurgical data impact processing recoveries and project economics?
- What timeline can investors expect for a JORC-compliant Exploration Target and potential resource upgrade?
