Aureka Strikes High-Grade Gold at Irvine, Raising Resource Hopes

Strong Intercepts Reinforce Geological Model

Aureka Limited (ASX – AKA) has delivered encouraging drilling results from its flagship Irvine Gold Project, situated within the prolific Stawell Gold Corridor in western Victoria. The latest diamond drill hole, RD049, returned high-grade gold intercepts including 0.75 metres at 10.2 grams per tonne (g/t) and 1.15 metres at 9.73 g/t, embedded within a broader mineralised zone measuring 18.4 metres at 1.54 g/t. These findings bolster the company’s geological interpretation of the Tenacity Hanging Wall fault as a significant host for gold mineralisation.

Expanding the Resource Base

The Tenacity Hanging Wall fault has emerged as a promising target following a series of high-grade intercepts reported throughout 2025. The continuity of mineralisation along this structure suggests potential to grow the current JORC-compliant resource of 304,000 ounces at Irvine. Notably, the Resolution lode, which accounts for the majority of this resource, continues to reveal extensions with favourable widths and grades that could translate into economically viable mining conditions.

Strategic Location and Historical Context

Located just 16 kilometres south of the operating Stawell Gold Mine, the Irvine Project benefits from its position within a region renowned for high-grade gold production. The project area overlays the northern portion of the historic Ararat Goldfield and is hosted within the Mooranambool Metamorphic Complex, a geological setting known for structurally controlled gold deposits. Aureka has invested over $13 million since discovery, underpinning a robust exploration program that includes detailed geological mapping, geophysical surveys, and extensive drilling campaigns.

Ongoing Exploration and Future Prospects

Drilling continues to focus on key mineralised structures such as the Resolution Fault and the newly identified Resolution footwall vein set, which has yielded remarkable assays including 0.38 metres at 85.8 g/t Au. The company plans to complement drilling with high-resolution magnetic surveys in early 2026 to refine targeting and potentially unlock further extensions between the Resolution and Adventure prospects. Management expresses optimism that these efforts will steadily increase the resource base and enhance the project’s economic potential.

Technical Rigor and Confidence

The exploration results are supported by rigorous sampling and assay protocols, including diamond core drilling with detailed geological logging and quality control measures. Competent Persons have verified the data in accordance with the JORC Code, lending credibility to the reported intercepts and resource estimates. While the exploration target remains conceptual in parts, the consistency of high-grade results across multiple drill holes strengthens confidence in the project’s outlook.