Aureka (ASX:AKA) has achieved the highest grade assay result to date, of up to 182 grams per tonne gold, from an ongoing drilling program at the Irvine Project in Victoria.
Drillhole RD048 has confirmed multiple occurrences of visible gold including the highest grade assay since the discovery of the Irvine Project in 2017.
The results include 10m @ 12.1g/t gold from 413m, including 0.3m @ 183g/t gold from 413m and 0.3m @ 64.3g/t gold from 413.8m.
Visible gold intercepts in hole RD048 also continue to confirm potential for high-grade lodes within Irvine’s Resolution resource.
Aureka, which has a market capitalisation of $19.22 million, says the results are 200m north north-west of the visible gold intercept, as previously reported, and also reaffirm the Tenacity Hanging Wall Fault structure to be a high-priority target with potential to deliver further high-grade intercepts and grow the inferred resource.
Managing Director James Gurry says the ongoing drilling is yielding “exceptional” goal grades at Irvine.
The current drilling is continuing to step out and target additional high-grade mineralisation potential immediately south of the Resolution inferred resource.
Aureka notes the maiden drilling program has improved the geological reinterpretation and understanding of the plunging mineral controls and has assisted with delineating multiple moderate west-dipping structures.
Additional exploration drilling is planned at Irvine to target potential mineralised ore shoots extensions along extrapolations of the Tenacity Hanging Wall and Resolution Foot Wall faults.
The Irvine Project has had more than $13 spent in expenditure since first discovered. The project hosts a resource of 304,000 ounces @ 2.43g/t gold.
Aureka is a mineral explorer focused on gold discoveries at its suite of projects in Victoria. The company is attending this week’s Australian Gold Conference in Sydney. Mining.com.au is also again in attendance.
Write to Aaliyah Rogan at Mining.com.au
Images: Aureka
