Aureka (ASX:AKA) has announced a 19% increase in its total JORC-compliant resources, now reaching 360,800 ounces of gold. This surge follows the definition of a maiden inferred resource at the Comstock prospect, a key part of the St Arnaud Project in Western Victoria, Australia. The mineral resource estimate for Comstock is 1.45 million tonnes at 1.2 grams per tonne, totaling 56,500 ounces of gold. Furthermore, Aureka has estimated an exploration target around this inferred resource, projecting an additional 112,000 to 116,000 ounces of gold. This contributes to a larger exploration target of 392,000 to 536,000 ounces across Aureka’s entire project portfolio.
Managing Director James Gurry expressed satisfaction with the rapid definition of the inferred JORC resource after resuming operations at Comstock, a previously mined open pit. Aureka has initiated a diamond drilling program at the project, involving four drillholes over 1,400 meters along strike, adjacent to the Comstock pit. Previous drilling at the Nelson Line within the St Arnaud project yielded promising results, including 1 meter at 13.9g/t gold within a zone of 25.3 meters at 1.7g/t gold. Aureka, with a market capitalization of $12.8 million, focuses on gold development across its project portfolio in Victoria, Australia.
