Aeris Annual Report 2022
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Southern Vein Field Exploration<br />
Limited exploration work has been completed<br />
within the Southern Vein Field, with the exception<br />
of two seismic survey traverses and several deep<br />
diamond drill holes, and as a result, its regional<br />
structural architecture is poorly understood.<br />
An MT survey program undertaken during the financial<br />
year successfully identified key lineaments within<br />
the Camboon Volcanics to depths exceeding 1,000m<br />
below surface. Preliminary geological interpretation<br />
based on the MT dataset defined six key target areas<br />
which warrant further investigation. At the end of the year,<br />
approximately 60% of an infill MT survey was complete.<br />
Western Vein Field Exploration<br />
Enigma Fault Structure<br />
The interpreted east-west Enigma structure is a newly<br />
identified (during FY<strong>2022</strong>) fault structure first identified<br />
from recent underground development within<br />
the southern limits of the current underground workings.<br />
The few historical holes that have intersected the structure<br />
have generally contained considerable epithermal<br />
quartz vein volume. Assay results report low grade gold<br />
anomalism only, but locally very highly anomalous silver<br />
and other pathfinder elements such as tellurium.<br />
The Enigma fault is interpreted to be the same age as<br />
the highly endowed Klondyke-Royal quartz vein structure<br />
(800koz Au) and appears to have direct connectivity with<br />
the magmatic-hydrothermal system responsible for driving<br />
the epithermal process at Cracow. The completed MT<br />
survey identified two discrete resistivity anomalies located<br />
adjacent to the interpreted Enigma structure. The resistivity<br />
anomalies could be associated with zones of dilation<br />
and enhanced epithermal quartz vein volume along<br />
the structure fault. Drilling completed in the financial year<br />
intersected the Enigma structure below the interpreted<br />
precious metal window. Further drilling is planned in<br />
the coming financial year, targeting a more prospective<br />
horizon further up-dip than the initial drill program.<br />
Boughyard Exploration Project<br />
The Boughyard prospect represents a high tonnage,<br />
lower grade exploration target, which differs from<br />
the low sulphidation epithermal deposits currently<br />
mined at Cracow. A total of 6 holes were drilled<br />
at Boughyard in the financial year however assay<br />
results were not encouraging, and exploration<br />
activities have been redirected to other targets.<br />
AERIS ANNUAL REPORT <strong>2022</strong><br />
The interpreted<br />
east-west Enigma<br />
structure is a newly<br />
identified fault structure,<br />
first identified from<br />
recent underground<br />
development<br />
within the southern<br />
limits of the current<br />
underground workings.<br />
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