Aureka (ASX:AKA) has secured a seven-year prospecting licence for its Comstock Gold and Silver Project in St Arnaud, Victoria.
Resources Victoria granted prospecting licence PL008915 on 4 November, less than four months after accepting the application lodged by Aureka’s wholly owned subsidiary, North Central Gold Exploration.
The licence covers roughly 4.5 hectares within the Comstock mine site, located about 2km north-northwest of St Arnaud. It also includes Walkers zone and the main Comstock Shear, both target areas for mining.
Proposed activities focus on small-scale selective underground mining, shallow excavations, and rehabilitation.
Managing Director James Gurry says securing Aureka’s first production licence is an important milestone for the company.
“In my view, the licence granted in under four months is another sign Victoria is emerging as a jurisdiction that genuinely supports responsible industry,” Gurry notes.
COO Zane Smith adds: “With the licence granted, our focus turns to resource definition, metallurgical studies, site readiness, and the consent and engagement requirements that apply before any work starts.”
Before any work starts, Aureka must secure Crown Land Minister consent through Parks Victoria, satisfy the requirements under the Djaara Land Use Activity Agreement, and receive work plan approval.
If mining proceeds, the company plans to treat Comstock ore at its 100%-owned Wedderburn gold processing mill, situated 45km away. Wedderburn is already processing ore from its producing Fiddlers Creek underground mine.
Comstock ore will undergo metallurgical testing building on historical production records from 1992–1995, during which time Glenburn Manor extracted about 8,000 ounces of gold.
In June 2025, Aureka defined a maiden JORC mineral resource estimate of 1.45 million tonnes at 1.21 grams per tonne gold (Au) for 56,500 ounces.
In August 2026, diamond drilling on the Comstock Shear returned 4.4m @ 8.9g/t Au and 57.8g/t silver from 102.8m. The hole intercepted mineralisation 48m below the surface within the licence boundary.
Meanwhile, key intercepts at Walkers zone include 2.65m @ 5.78g/t Au from 20.5m, including 0.35m @ 34.2g/t Au from 21.5m.
Aureka is a mineral explorer focused on gold projects in Victoria.
Write to Paula Fabe at Mining.com.au
Main image: Aureka
