Aureka Strikes Gold: High-Grade Intercepts Expand St Arnaud Resource Potential
Aureka Limited (ASX: AKA) has announced multiple high-grade gold intercepts from its ongoing diamond drilling program at the St Arnaud Comstock project in Victoria, significantly enhancing the resource expansion potential of this historic goldfield.
Multiple Gold Zones Confirm Resource Growth Potential
The first diamond drill hole (25NED001) of Aureka's current drilling campaign has delivered impressive results with multiple high-grade gold zones outside the existing resource, demonstrating strong potential for resource growth at depth. The standout intercepts include:
- 6.9m @ 4.24g/t Au from 422.1m (including 0.75m @ 18.6 g/t Au)
- 3.2m @ 4.71g/t Au from 434.0m (including 0.6m @ 19.9 g/t Au)
These intercepts are particularly significant as they occur down dip of previous high-grade results and outside of the maiden Inferred Mineral Resource of 1.45M tonnes at 1.21g/t Au for 56,500 oz that was reported in June 2025.
"It's extremely positive to see mineralisation continuity down dip along the main Comstock shear at St Arnaud. The elevated grade intercepts have potential to rapidly add to our already substantial global resource inventory, including at St Arnaud," said James Gurry, Managing Director.
Consistent Mineralisation Pattern Boosts Confidence
The drilling has confirmed the down-dip continuity of the Comstock shear structure approximately 190m down dip of legacy drill holes, with mineralisation maintaining its characteristic association with sheared stylolitic quartz veins and elevated sulphides including pyrite, arsenopyrite, galena, and sphalerite.
| Additional Significant Intercepts from 25NED001 | Grade |
|---|---|
| 3.75m @ 1.02g/t Au from 297.75m | ✓ |
| 4.4m @ 0.62g/t Au from 402m | ✓ |
| 3.35m @ 1.87g/t Au from 408.1m | ✓ |
| 4.0m @ 1.14g/t Au from 415.0m | ✓ |
| 2.0m @ 1.88g/t Au from 454.0m | ✓ |
The multiple intercepts demonstrate consistent mineralisation patterns along the shear zone and provide further evidence of a potential steep plunging ore shoot, typical of Victorian goldfield mineralisation styles.
Understanding Stylolitic Quartz Veins: Key to Victorian Gold
Stylolitic quartz veins, which host the gold mineralisation at St Arnaud, are a distinctive feature in many Victorian goldfields. These veins form when minerals dissolve under pressure during rock deformation, creating irregular, wavy structures with distinctive seam-like appearances.
In Victorian-style gold deposits, these veins often occur within structural corridors where deformation has created pathways for mineral-rich fluids. The presence of specific sulphide minerals (pyrite, arsenopyrite, galena, and sphalerite) in association with these veins at St Arnaud is a classic indicator of potentially economic gold mineralisation.
The identification of these key geological features in the recent drilling increases confidence in the continuity and potential economic significance of the gold discovery at Aureka Ltd system at depth.
Strategic Location and Development Pathway
The St Arnaud Comstock project is strategically positioned within trucking distance to several operating gold processing plants in Victoria, presenting a potential pathway to production without the need for significant capital investment in processing infrastructure.
Aureka has indicated it intends to begin community engagement, scoping studies, and regulatory approval processes to advance the project toward potential production, capitalising on the current strong gold price environment.
Exploration Target Offers Significant Upside
Beyond the current Inferred Resource, Aureka has identified an Exploration Target at Comstock ranging between:
- 3.0Mt and 3.5Mt at grades of 1.0-1.2g/t Au (112-116koz gold)
- Additional silver potential of 1.9-2.02g/t Ag (195-214koz silver)
While the Exploration Target is conceptual in nature, the recent drilling results provide increasing confidence that further drilling may convert portions of this target into additional resources. Similarly, other companies like Great Boulder Resources have announced new gold targets that follow this exploration-to-resource pathway.
The St Arnaud Geological Setting
The Comstock prospect is located within the historic St Arnaud Goldfields along what is known as the Nelson line of reef, approximately 2km north of the township of St Arnaud. The local geology consists of tightly folded sedimentary rocks with distinct shale and sandstone layers of varying thicknesses.
The area is dominated by a north-northwest trending, west-dipping fault/shear zone known as the Comstock Shear. This shear zone is interpreted to lie within the hinge zone of a large-scale syncline (downward fold) and is confined by a wide zone of shale-dominant sediments.
Gold mineralisation at St Arnaud is structurally controlled, occurring primarily in quartz reef systems within brittle fractures and faults. These reef systems can extend from a few metres to a few kilometres along strike but are usually a few hundred metres in length. The mineralisation has a distinctive metal signature including gold, arsenic, silver, and lead, which is characteristic of many high-grade gold discoveries in the region.
Why Investors Should Track Aureka
Aureka presents a compelling investment opportunity for several key reasons:
-
Resource Growth Momentum: The high-grade intercepts outside the existing resource demonstrate significant potential to increase the current 56,500oz gold resource at St Arnaud.
-
Strategic Victorian Position: The company is positioned within Victoria's prolific goldfields with projects within trucking distance of existing processing infrastructure.
-
Multiple Potential Catalysts: With ongoing drilling at Comstock targeting further extensions, investors can expect a steady flow of news as results are returned.
-
Experienced Team: The company is led by industry professionals with proven track records in resource definition and development.
-
Favourable Market Timing: The current strong gold price environment enhances the economic potential of Victorian gold projects with existing resources.
Furthermore, the golden opportunity expands as Aureka continues to build upon its initial success with systematic exploration and development planning.
Ongoing Exploration Program
Aureka is currently conducting a 1,250m diamond drilling program at Comstock with a single rig targeting further down-dip and down-plunge extensions to the known mineralisation. The program is scheduled for completion in August 2025.
Pending results, additional drilling is planned for commencement in late 2025, aiming to infill and further define the current resource within 50 to 100m of the current Mineral Resource Estimate and/or previous drilling.
As Aureka continues its systematic exploration approach at Comstock, investors should watch closely for additional results that could further expand the resource potential of this promising Victorian gold project. Recent market developments show that companies uncovering wide gold zones are being rewarded with significant investor interest.
Want to Receive Instant Alerts on the Next Major Gold Discovery?
Discover how the proprietary Discovery IQ model from Discovery Alert can instantly notify you about significant ASX mineral discoveries, helping you capitalise on high-potential opportunities like Aureka's gold intercepts before the broader market. Visit the discoveries page to understand how major mineral discoveries have historically generated substantial returns for early investors.
