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Aeris Resources has delivered a 220 per cent increase in contained gold at its Golden Plateau deposit in Queensland, strengthening the potential to extend the operating life of its Cracow gold mine.
The updated mineral resource estimate (MRE) now stands at three million tonnes (Mt) grading 2.1 grams per tonne (g/t) gold and 8g/t silver, containing approximately 200,000 ounces of gold and 750,000 ounces of silver.
The upgrade represents an increase of approximately 140,000 ounces of contained gold compared with the previous estimate, alongside a 200 per cent increase in contained silver.
Aeris executive chairman Andre Labuschagne said the results were an important step towards establishing a longer-term future for Cracow.
“This update demonstrates the prospectivity of the Cracow tenements and is the first step towards demonstrating a longer life operation at Cracow,” Labuschagne said.
“The mineral resource at Golden Plateau has increased threefold and, importantly, the resource is constrained within potentially mineable pit shells and stope shapes.”
The expanded resource comprises approximately 2.5Mt at 1.9g/t gold within a conceptual open pit, containing 150,000 ounces, and 530,000 tonnes at 2.9g/t gold within underground mining shapes, containing another 50,000 ounces.
Aeris said measured and indicated resources now account for approximately half of the deposit’s contained gold, providing greater confidence for future mine planning.
The increase follows an extensive geological review incorporating historical drilling data and an additional 88 drill holes totalling 16,204m.
Updated geological interpretations identified previously unmodelled mineralised lodes and extended existing structures, while revised gold price assumptions also contributed to the larger open-pit resource.
These results build on Aeris’ recent momentum as part of three companies from New South Wales – Alkane and Aurelia – showcasing investment opportunities to investors in India and the Republic of Korea, as the state looks to attract international backing for its critical minerals and high-tech metals sector.
To add, two months ago in August, the miner delivered a significant improvement in its 2025-26 financial year (FY26) financial performance, as its revenue increased 22 per cent, while earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 81 per cent.
As for the Cracow processing facility, located approximately 1km north of Golden Plateau, it was historically a major contributor to the goldfield, producing approximately 850,000 ounces between the 1930s and 1990s.
The latest upgrade has prompted Aeris to progress detailed mine design work for potential open-pit and underground operations, with ore intended to feed the existing Cracow processing plant.
“We see further opportunity to significantly grow the Resource along strike,” Labuschagne said.
“The Cracow team will now start detailed mine design work on a potential open cut and underground operation at Golden Plateau to feed the Cracow processing plant.”
Aeris plans approximately 15,000m of additional drilling during the 2026–27 financial year to test extensions and improve confidence in the resource, supporting a further MRE update and eventual ore reserve estimate.
Alongside drilling, the company will continue metallurgical testing, geotechnical studies and mine planning to determine the preferred development strategy.
Permitting activities have also commenced, including environmental approval amendments and rehabilitation planning required for potential mining operations.
The expanded resource provides Aeris with a potential additional ore source close to existing infrastructure, supporting its longer-term ambitions at Cracow.
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