Sheoak Prospect Delivers 28m at 3.4g/t Au; Crown Project Confirms 2km Gold Anomaly
Auravelle Metals has reported significant high-grade gold intersections at its Sheoak Prospect in South Australia, extending the gold trend beyond 600 metres and identifying new targets at Sheoak East. Meanwhile, early drilling at its Crown Gold Project in Western Australia confirms extensive gold anomalism, supported by a successful $2.5 million capital raise to fund ongoing exploration.
- Broad high-grade gold intersections at Sheoak Prospect, Nuckulla Hill Project
- Sheoak gold trend extended over 600 metres and remains open
- New priority target identified at Sheoak East with +400m gold anomalism
- Initial aircore drilling at Crown Gold Project confirms supergene gold anomalism
- Successful $2.5 million capital raise to support aggressive 2026 exploration program
Strong Gold Results at Sheoak Highlight Growth Potential
Auravelle Metals Limited (ASX, AUV) has delivered a compelling update from its December 2025 quarter, showcasing broad zones of high-grade gold mineralisation at the Sheoak Prospect within the Nuckulla Hill Project in South Australia. The recent reverse circulation (RC) drilling program intersected impressive results, including a standout 28 metres at 3.4 grams per tonne (g/t) gold from 48 metres depth, featuring higher-grade intervals of 4 metres at 12.7 g/t and 4 metres at 5.6 g/t. These results underscore the prospect’s potential to host a significant gold system.
Importantly, the Sheoak gold trend has now been extended to over 600 metres in strike length and remains open both along strike and at depth, signalling ample room for resource growth. The company’s drilling also identified shallow gold mineralisation over more than 200 metres of strike, reinforcing the prospect’s robust continuity.
New Targets Emerge at Sheoak East and Crown Gold Project
Beyond Sheoak, Auravelle’s early-stage drilling at Sheoak East, located 2 kilometres northeast of Sheoak, has revealed a +400-metre-long gold anomaly associated with interpreted shear zones. Initial aircore and RC drilling returned encouraging gold intercepts, positioning Sheoak East as a priority follow-up target for deeper exploration.
Meanwhile, at the Crown Gold Project in Western Australia, Auravelle completed its maiden aircore drilling program, confirming extensive supergene gold anomalism over at least 2 kilometres north-south. The anomalism remains open in both directions and is associated with geological structures that extend towards nearby producing mines operated by Black Cat Syndicate. These findings have generated multiple high-priority targets for upcoming deeper RC drilling.
Capital Raise Fuels Ambitious 2026 Exploration Plans
Supporting these exploration advances, Auravelle successfully raised $2.5 million through a strongly supported placement priced at 1.6 cents per share, with participation from all four directors and both existing and new investors. As of 31 December 2025, the company held $1.7 million in cash, with an additional $375,000 received post-quarter. These funds are earmarked for ongoing drilling programs at Sheoak, Sheoak East, Crown, and the Skye Gold Project, alongside planned soil sampling, geophysical surveys, and heritage assessments.
The company’s aggressive field program for 2026 aims to build on the momentum, with follow-up drilling scheduled to commence in late Q1 or early Q2, and further aircore drilling at Crown planned for mid to late Q1. Auravelle continues to review its portfolio to optimise its asset mix and focus on cost-effective exploration in both South Australia and Western Australia.
Outlook and Market Implications
While these exploration results are promising, they remain at an early stage, requiring further drilling to delineate resources and confirm economic viability. The company’s cash runway currently covers just over one quarter at existing expenditure levels, underscoring the importance of continued capital management and successful fundraising. Investors will be watching closely for upcoming drill results and how Auravelle balances exploration progress with financial sustainability.
Bottom Line?
Auravelle’s strong drill results and fresh capital position set the stage for a pivotal exploration year, but sustaining momentum will hinge on delivering consistent discoveries and prudent funding.
Questions in the middle?
- How will upcoming deeper drilling at Sheoak and Sheoak East refine the resource potential?
- Can Auravelle replicate Crown’s supergene gold anomalism into a viable primary resource?
- What strategies will the company employ to extend its cash runway beyond one quarter?
