Aureka Expands Drilling at Tandarra, Advances Irvine Exploration

A Strategic Drilling Expansion

Aureka Limited (ASX: AKA) has kicked off 2025 with a significant operational update, announcing the commencement of diamond drilling at its Tandarra Gold Project Joint Venture (JV) in Victoria's prolific Bendigo Zone. This new six-hole program at the Lawry prospect aims to build upon last year's successful campaign, which confirmed multiple zones of high-grade gold mineralisation extending into fresh rock.

The drilling program, managed by Deepcore Drilling Pty Ltd, is designed as a step-out exercise to increase the footprint of mineralisation identified in 2024. Initial holes are positioned 50 meters south of previous drill sites, with further holes planned both south and north of the established zones. The program is expected to conclude by the end of February, with assay results to follow.

Contextualising the Tandarra Gold Project JV

The Tandarra Gold Project JV, where Aureka holds a 49% interest alongside Catalyst Metals Limited (ASX: CYL), covers a 13-kilometer strike along the Whitelaw and Tandarra Faults, key structural controls for gold mineralisation north of Bendigo. Located just 50 kilometers northwest of Agnico Eagle’s Fosterville Gold Mine and 40 kilometers north of the historic 22-million-ounce Bendigo Goldfield, Tandarra is strategically positioned within a renowned gold province.

Lawry, one of the project's main prospects, lies on the Reynolds trend, a lightly explored structure adjacent to the more advanced Tomorrow prospect. The 2024 drilling campaign extended the known strike of mineralisation by approximately 140 meters to the south, revealing high-grade intersections such as 12.9 meters at 33.1 grams per tonne gold, including a remarkable 0.5 meters at 831 grams per tonne.

Progress at Irvine Gold Project

Meanwhile, Aureka continues to make strong headway at its Irvine Gold Project in the Stawell Corridor, where a 2,000-meter diamond drilling program is underway. Recent geological logging has identified minor sulphide minerals, including fine arsenopyrite needles, associated with silicified breccia veins and sericite alteration at depth. These observations are promising indicators of gold mineralisation, with assay results pending.

The Irvine Project hosts a substantial inferred mineral resource of approximately 304,000 ounces at 2.43 grams per tonne, with an additional exploration target of 280,000 to 420,000 ounces. The current drilling aims to extend the Resolution lode down plunge and infill existing resource areas, setting the stage for a resource update later in 2025.

Looking Ahead

Aureka’s dual drilling campaigns at Tandarra and Irvine reflect a concerted effort to unlock Victoria’s high-grade gold potential. The company’s strategy of continuous exploration, combined with its partnerships and advanced-stage projects, positions it well to grow its resource base and advance toward development milestones.

As assay results from the Tandarra drilling become available, market participants will be keen to assess how these findings might reshape the resource landscape and influence Aureka’s valuation. The coming months are pivotal for the company’s exploration narrative.