PERTH (miningweekly.com) – The Cracow gold mine, in Queensland, has beaten production expectations in its first month of operation under the ownership of ASX-listed Aeris Resources.
Aeris on Tuesday announced that the mine had produced 8 138 oz of gold during the month of July, as the operation transitioned into the Aeris portfolio.
“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. The next 12 months will be a really exciting time for both Cracow and Aeris,” said executive chairperson Andre Labuschagne.
Aeris at the start of July completed its A$125-million deal with gold miner Evolution Mining to acquire the Cracow mine, which is expected to produce between 70 000 oz and 75 000 oz of gold at a C1 cash cost of A$980/oz, in 2021.
Near-mine exploration work has already started at Cracow, and an underground diamond drill rig is expected to arrive on site in August to test a number of near-mine targets.