Aureka (ASX:AKA) has increased its global JORC resource estimate for the Irvine Project within the Stawell Corridor in Victoria by 26% to 455,000 ounces from 361,000 ounces gold.
The project’s inferred resources increasing to 455,000 ounces represents a 50% increase in global resources since the company began operations at the project in January 2025.
Managing Director James Gurry explains that when Aureka began drilling activities at the project, the company started with 304,000 tonnes of global JORC resource.
“Within six months we delivered an increase to 361,000 ounces in June 2025 with the maiden resource at the St Arnaud Comstock Gold and Silver Project, and we have now boosted our total estimated resources again to over 450,000 ounces with a 94,000-ounce increase to our flagship Irvine Gold Project located in the multimillion-ounce Stawell Corridor,” Gurry says.
“We drilled just under 5,000 metres over eight diamond holes to deliver this growth in our JORC resources at Irvine.
“Such a significant increase is due to the high-grade intercepts and visible gold delivered by this highly prospective area, and our team’s successful targeting techniques.”
The company says 100% of the inferred JORC-compliant resource increased by 30% to 398,000 ounces of gold following drilling.
The JORC Code is a reporting standard for how Australian mining companies report exploration results, mineral resources, and ore reserves to the market.
The Code is maintained by the Joint Ore Reserves Committee, which represents several industry organisations including the Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists, as reported by Mining.com.au.
The estimated gold grade has also increased to 2.59 grams per tonne from 2.43g/t at Irvine. Irvine has also added 23% to its total tonnes.
“Grade is a crucial focus for us going forward, not only in the Stawell Corridor, but also at the Comstock Gold and Silver Project outside St Arnaud where infill drilling is underway,” Gurry adds.
“If successful, this latter drilling may elevate some of our resources above the inferred status for the first time.
“This month also marks one year since we appointed Jozef Story as Exploration Manager, and the substantial increase to our global resources is attributable to his differentiated viewpoint gained through his extensive overseas experience being applied back in Victoria where he started his career.”
The company has dual diamond drill rigs operating at the Irvine and St Arnaud Comstock projects. At Irvine, drilling is exploring key areas beyond the defined resource area, while infill drilling is in progress at St Arnaud Comstock to support avenues to near-term production.
Aureka has defined an advanced exploration target of between 57,000 and 130,000 ounces of gold at Irvine, as well as a conceptual exploration target ranging between 151,000 and 348,000 ounces of gold.
Aureka is an Australian explorer focused on advancing gold projects in Victoria.
Write to Maddison Elliott at Mining.com.au
Images: Aureka
