New Footwall Vein Discovery Could Reshape Irvine’s Resource Potential

Exploration Breakthrough at Irvine

Aureka has delivered a significant boost to its flagship Irvine Gold Project with the release of final assay results from diamond drill hole RD048. The results confirm high-grade gold mineralisation within a newly identified Resolution Footwall Vein, a structure previously unrecognised in this part of the Stawell Corridor in Victoria.

The standout intercept from RD048 includes 5.66 metres grading 6.13 grams per tonne gold starting at 489.34 metres depth, featuring a remarkable 0.38 metre section assaying 85.8 grams per tonne. These assays complement earlier high-grade results from the same hole, including a 10 metre intercept at 12.1 grams per tonne, which contained visible gold and sulphide mineralisation.

Extending the Mineralised Footprint

Importantly, the new footwall vein intercept lies approximately 70 metres below previously reported mineralisation associated with the Tenacity Hanging Wall Fault and represents a continuation of mineralisation identified 135 metres to the north in drill hole RD047. This continuity along strike supports the updated geological model that now incorporates multiple mineralised structures within the Resolution prospect.

These findings suggest that the Irvine Project’s mineralised system is more complex and extensive than earlier understood, with the Resolution Footwall Vein offering a fresh high-grade target. The geological team’s ongoing model refinement is driving targeted drilling campaigns aimed at unlocking further resource upside.

Strategic Implications and Next Steps

Currently, the Irvine Project hosts an inferred JORC Mineral Resource of 304,000 ounces at 2.43 grams per tonne gold. The new high-grade intercepts outside this resource boundary highlight the potential to materially increase the resource base. Aureka’s management has expressed optimism about the exploration success and the prospect of expanding the resource through continued drilling over the summer months.

With multiple mineralised veins now delineated, including the Tenacity Hanging Wall Fault and the Resolution Footwall Vein, the project’s structural complexity offers several promising drill targets. The company’s exploration strategy focuses on infill and step-out drilling to test these targets and refine the geological understanding further.

Situated within the prolific Stawell Gold Corridor, just 16 kilometres from the operating Stawell Gold Mine, the Irvine Project benefits from a rich regional gold endowment and established infrastructure, enhancing its development potential.