Source : THE AGE NEWS
For the first time, Aureka has struck visible gold in multiple shallow intercepts at its 56,500-ounce Comstock gold project in Victoria, with the latest discovery bolstering the company’s plans for near-term production. The gold was hit from a shallow vertical depth in a drill hole targeting the Walkers Shear structure with one hole encountering multiple visible gold grains at 21.7 metres downhole, just 18m from surface. A second intercept in the same hole hit an additional 13 grains of visible gold at a downhole depth of 61.2m hosted in a quartz vein.
Aureka says the find is significant as it is the first time it has intersected visible gold within the secondary Walkers Shear, which branches off the main Comstock line. Previous visible gold hits by the company have all been within the primary Comstock Shear. The success at Walkers increases targeting confidence and opens up a new front for potential near-surface mineralisation as part of Aureka’s infill and high-grade affirmation program.
The latest drilling success feeds directly into the company’s strategy to kick-start small-scale production at Comstock. Aureka has already locked in a binding toll-milling partnership with the nearby Wedderburn gold mill, providing a clear pathway to process any ore it pulls from the ground.
‘I’m impressed to see Comstock delivering again with at least two occurences of visible gold within the pit targeted for first production.’
Aureka Limited managing director James Gurry
Aureka managing director James Gurry said: “I’m impressed to see Comstock delivering again with at least two occurrences of visible gold this time located within the pit we have targeted for first production. We drilled seven diamond holes at Comstock in 2025 with significant gold and/or silver results in six of these holes – this repeated success in a previously mined pit demonstrates the value we have at Comstock in the high-grade St Arnaud goldfield where, within 2km of our drill rig location, there is a history of mining 400,000 ounces of gold at 15g/t.”
The St Arnaud goldfield is a well-endowed region, with historical production records pointing to some 400,000 ounces of gold being mined at a stunning average grade of 15g/t. Historical drill results from within the Walkers pit itself add further weight to the area’s prospectivity, with past hits including 14m at 7.2g/t gold from 18m and a higher-grade 2.2m intercept going 27.4g/t gold.
While the company cautions visual estimates are not a substitute for laboratory analysis, the core is now on its way to the lab with assays expected in three to five weeks.
Aureka is running a two-pronged strategy in Victoria. While it pushes Comstock towards early production, it is also continuing diamond drilling at its flagship Irvine project near the gold mining town of Stawell. The group’s wider regional tenement holding also includes the Jubilee gold project near Ballarat, the Morning Bill gold and base metals project along with critical minerals potential across the broader St Arnaud region.
Irvine holds the lion’s share of Aureka’s global 455,000-ounce gold resource, with an inferred mineral resource of 398,000 ounces. Drilling there has previously returned record high-grade assays for the project including a 10m hit grading 12.1g/t gold that contained a spectacular 0.3m section at 183g/t gold with two holes from the drilling intersecting high grade visible gold.
For a junior explorer, seeing visible gold in the core is a welcome sight. However, seeing it in a new secondary structure just metres below an old open pit and in a district known for its high-grade historical mines is an additional and significant development. With a toll treatment deal already signed and sealed, Aureka will be anxiously awaiting the assay results which could well define the next steps on its path to becoming a producer.
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