Aureka Limited has reported significant new high-grade silver and gold assay results at its St Arnaud Comstock project, revealing a previously untested fault structure and expanding the potential resource beyond the current 56,500-ounce inferred JORC estimate.
- Diamond drilling intercepts 0.3m at 650g/t silver and 1.91g/t gold
- Visible gold assay of 0.3m at 31.5g/t near surface in new mineralised structure
- Discovery of Comstock Basal fault with high-grade mineralisation potential
- Current inferred JORC resource stands at 56,500 ounces gold
- Commercialisation efforts underway targeting near-term small-scale production
New High-Grade Discoveries at St Arnaud Comstock
Aureka Limited (ASX: AKA) has announced compelling new assay results from its St Arnaud Comstock gold and silver project in Central Western Victoria. The recent 2025 diamond drilling program has intercepted exceptionally high-grade silver, including a standout 0.3 metre interval grading 650 grams per tonne (g/t) silver alongside 1.91 g/t gold, marking the highest silver grades recorded on the project to date.
Complementing this, visible gold was identified near surface in a separate drill hole, returning 0.3 metres at 31.5 g/t gold. This intercept lies approximately 140 metres west of the Comstock Fault and defines a new mineralised structure subparallel to the existing resource, highlighting the project's expanding geological complexity.
Extending Beyond the Maiden Resource
These results extend mineralisation beyond the maiden inferred JORC Mineral Resource Estimate (MRE) of 1.45 million tonnes at 1.21 g/t gold for 56,500 ounces, released in June 2025. The discovery of the Comstock Basal fault, a newly interpreted west-dipping mineralised fault structure, offers a fresh target that has not been previously drilled. This fault hosts high-grade mineralisation and projects to surface north of the existing Comstock pit, a former mine site with historical production of approximately 400,000 ounces of gold at an estimated 15 g/t.
Geological interpretations from the 2025 drilling campaign reveal continuity along strike and at depth, with multiple high-grade gold intercepts reported in prior drilling, reinforcing the potential for resource growth. The presence of abundant sulphide minerals such as galena, sphalerite, chalcopyrite, and pyrite in quartz veins further supports the prospectivity of the area.
Commercialisation and Future Prospects
Management is actively advancing commercialisation strategies, engaging local Victorian gold processing specialists Core Prospecting to explore pathways toward near-term small-scale production. The project's proximity to several operational gold processing mills within trucking distance enhances its economic viability.
Exploration Manager Jozef Story emphasised the significance of the recent intercepts, noting that the combination of high-grade gold and silver mineralisation provides increased economic optionality. Meanwhile, Managing Director James Gurry highlighted the project's multi-front growth in both grade and metal diversity, coinciding with ongoing efforts to progress commercialisation.
Looking Ahead
While the exploration targets remain conceptual and further drilling is required to convert these into defined mineral resources, the recent results underscore the potential for substantial resource expansion. The integration of legacy data with new geological insights is guiding the identification of additional drill targets both below and beyond the current pit.
As Aureka continues to delineate the extent of mineralisation and advance regulatory and community engagement, the St Arnaud Comstock project stands poised to transition from exploration to production, potentially adding meaningful ounces to Victoria’s gold output.
Bottom Line?
Aureka’s latest high-grade silver and gold discoveries at St Arnaud signal promising resource growth and a tangible pathway to production.
Questions in the middle?
- How quickly can Aureka convert exploration targets into updated JORC resources?
- What are the economic implications of integrating high-grade silver with gold production?
- How will regulatory and community approvals impact the timeline for near-term production?