Aureka has announced an increase in estimated global resource across its gold assets in Victoria thanks to successful drilling and exploration.
The company has quoted a 26 per cent rise in resource, now sitting at around 455,000 ounces of gold from 361,000 ounces.
This increase also represents a 50 per cent jump in global Joint Ore Reserves Committee (JORC) resources since the miner began its operations in January 2025 with 304,000 ounces.
This boost stems from Aureka’s successful drilling of, and revision to, its flagship Irvine gold project in the Stawell Corridor in Western Victoria, where the 100 per cent inferred JORC-compliant resource has increased by 30 per cent to 398,000 ounces of gold from the previous estimate of 304,000 ounces.
The estimated gold grade at the Irvine project has also increased to 2.59 grams per tonne (g/t) gold from 2.43g/t gold, with the update also adding 23 per cent to total tonnes at Irvine.
Managing director James Gurry said that Aureka has steadily increased its estimates since it began drilling in January last year, delivering, within six months, an increase to 361,000 ounces from the initial 304,000 ounces of global resource at its St Arnaud Comstock gold and silver project.
“We drilled just under 5000 metres over eight diamond holes to deliver this growth in our JORC resources at Irvine,” Gurry said.
“Such a significant increase is due to the high-grade intercepts and visible gold delivered by this highly prospective area, and our team’s successful targeting techniques.”
The Resolution Lode resource has now been upgraded to 4.11 million tonnes (Mt) at 2.71g/t gold for 358,000 ounces of inferred resources, representing a 36 per cent increase in inferred gold ounces.
The lode comprises both open-pit and underground mineralisation, with the underground component increasing by 61 per cent compared to the previous estimate.
The wider Irvine resource now sits at 4.79Mt at 2.59g/t gold for 398,300 ounces, while the company’s Comstock gold and silver project at St Arnaud contributes a further 56,500 ounces to Aureka’s global resource base.
“It is especially pleasing to deliver Resource growth together with an increase in estimated average grade,” Gurry said.
“Grade is a crucial focus for us going forward, not only in the Stawell Corridor, but also at the Comstock Gold and Silver Project outside St Arnaud where infill drilling is underway.
“If successful, this latter drilling may elevate some of our Resources above the Inferred status for the first time.”
Aureka has also defined updated exploration targets at Irvine, including advanced exploration targets ranging from 85,000 ounces to 197,000 ounces of gold and conceptual exploration targets ranging from 151,000 ounces to 348,000 ounces of gold.
The company currently has two diamond rigs operating, with drilling continuing at Irvine to test areas beyond the newly defined mineral resource, while infill drilling at Comstock is underway to support potential near-term production pathways.
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