Could Aureka’s New Western Flank Discovery Unlock More Gold at Irvine?
Aureka Limited has confirmed gold mineralisation on the previously untested western flank of the Irvine Basalt at its flagship Irvine Project, signalling a potential significant expansion beyond existing resources.
- Gold mineralisation confirmed on western flank of Irvine Basalt
- Best assay intercept: 0.32m at 4.72 g/t Au from 159m depth
- Discovery lies outside current JORC Resource and Exploration Target
- Irvine Project hosts 304koz inferred resource plus 280-420koz exploration target
- Further assays pending to define extent of new mineralisation zone
New Frontiers at Irvine
Aureka Limited (ASX: AKA) has announced a promising development at its Irvine Project in Victoria’s Stawell Corridor, revealing gold mineralisation on the western flank of the Irvine Basalt for the first time. This discovery, confirmed by initial assay results from diamond drill hole RD045 at the Resolution Lode, marks a significant departure from previous exploration which focused exclusively on the eastern flank.
The standout intercept of 0.32 metres grading 4.72 grams per tonne gold at a relatively shallow depth of 159 metres suggests that the project’s mineralised footprint could be materially larger than previously understood. This new zone lies outside the current JORC-compliant Mineral Resource of 304,000 ounces and the Exploration Target range of 280,000 to 420,000 ounces, potentially unlocking a fresh area of gold prospectivity.
Geological Significance and Regional Context
The discovery on the western flank of the Irvine Basalt is geologically significant because it mirrors the mineralisation style seen at the nearby Magdala Basalt, host to the prolific Stawell Goldfield which has produced over 5 million ounces historically. Notably, the Stawell deposit was mined primarily from the western flank, with recent interest also focusing on the eastern side. Aureka’s finding thus aligns the Irvine Project more closely with this well-established gold province, enhancing its strategic value.
Managing Director James Gurry highlighted the importance of this breakthrough, noting that it validates Irvine as one of Victoria’s most substantial undeveloped gold projects. The company has invested over $11.5 million since acquiring the project in 2015, underscoring its commitment to unlocking the region’s potential.
Next Steps and Market Implications
While the initial assays are encouraging, Aureka is awaiting further results from RD045, including samples from the planned target zone, to better understand the extent and continuity of this new mineralisation. The exploration team is already integrating this discovery into upcoming drilling programs, aiming to expand and refine the resource base.
This development could have meaningful implications for Aureka’s valuation and the broader Victorian gold exploration landscape. With the Irvine Project situated just 16 kilometres south of the operating Stawell Gold Mine, the potential for resource growth and eventual development is a compelling story for investors watching the region.
In the meantime, the market will be keenly awaiting the forthcoming assay results and any updated resource estimates that incorporate this western flank discovery.
Bottom Line?
Aureka’s western flank discovery at Irvine could redefine the project’s scale and future trajectory.
Questions in the middle?
- How extensive and continuous is the newly discovered mineralisation on the western flank?
- When will Aureka release the remaining assay results from RD045 and subsequent drill holes?
- What impact will this discovery have on the timing and scale of Irvine’s resource upgrade?
