Resource Expansion at Risk Pending Assay Results from St Arnaud Drilling
Aureka Limited’s recent drilling at the St Arnaud Comstock Project has revealed multiple visible gold occurrences, hinting at potential expansion of its current gold resource. Assay results are pending, but the findings could pave the way for increased resource estimates and future production.
- Seven visible gold occurrences in drill hole 25NED002
- Potential to increase current Inferred JORC Resource at St Arnaud Comstock
- Seven-hole diamond drilling program completed with assays pending
- Maiden JORC Resource of 56,500 oz gold at 1.21 g/t from 1.45Mt
- Proximity to operating gold mills supports future production prospects
Visible Gold Discovery at St Arnaud
Aureka Limited (ASX – AKA) has reported encouraging signs from its ongoing exploration at the St Arnaud Comstock Project in Victoria. Diamond drill hole 25NED002 intersected multiple quartz veins containing visible gold between 115.4 and 124.1 metres, with seven distinct occurrences noted. This visual confirmation of gold, while preliminary, suggests the potential to expand the existing Inferred JORC Resource declared earlier this year.
Implications for Resource Growth
The visible gold lies outside the current resource boundaries, indicating a high-grade component that could enhance the overall resource profile. The maiden JORC Mineral Resource Estimate (MRE) released in June 2025 stands at 1.45 million tonnes grading 1.21 grams per tonne gold, equating to approximately 56,500 ounces. Alongside this, an exploration target of 3.0 to 3.5 million tonnes at 1.0 to 1.2 grams per tonne gold has been outlined, highlighting significant upside potential.
Ongoing Drilling and Assay Results Pending
The recent drilling program, completed between April and September 2025, comprised seven diamond holes, including 25NED002. While logging and sampling are underway, laboratory assays are awaited to quantify the gold grades precisely. Previous results from hole 25NED001, reported in July, confirmed high-grade gold intercepts down dip of the maiden resource, reinforcing the continuity and fertility of the Comstock shear system.
Strategic Location and Future Plans
St Arnaud Comstock’s location near several operating gold processing mills in Victoria adds a practical advantage for potential future development. Managing Director James Gurry highlighted the project’s proximity to existing infrastructure and the encouraging drill results as a pathway toward small-scale production. The company is advancing community engagement and regulatory planning to support this vision.
Broader Exploration Context
Alongside St Arnaud, Aureka continues drilling at its Irvine Project near Stawell, targeting extensions to its 304,000-ounce inferred resource. The combined exploration efforts underscore the company’s strategy to grow its global resource inventory through systematic drilling and geological review.
Bottom Line?
As assay results emerge, Aureka’s St Arnaud project could redefine its resource scale and production prospects.
Questions in the middle?
- What will the laboratory assays reveal about the grade and economic viability of the visible gold zones?
- How might these new findings impact the timing and scale of potential production at St Arnaud?
- Will further drilling confirm continuity and allow for a resource upgrade beyond the current exploration target?
