Aureka (ASX:AKA) has identified Walkers pit as the preferred pathway to reopen production at the St Arnaud Comstock Gold and Silver Project in Victoria, following the completion of an initial concept study by geological and engineering consultants Measured Group and Minserve.
Walkers pit has been identified as a potential lower capital pathway to reopening the site due to the existing pit and in situ, near-surface mineralisation.
Core Prospecting also provided input on the study as the operators of the nearby Wedderburn Mill and Fiddlers Creek gold mine.
Existing road and ramp access at Walkers pit was last used in the late 1990s, and has been intermittently used since. The pit’s existing infrastructure contributed to the ‘modest’ upfront capital estimate, indicating the capital required relates to onsite setup and site overheads rather than extensive earthworks and pre-mine development.
This study is described as conceptual and is not to be referred to as a Scoping Study, Prefeasibility Study, or Feasibility Study standard under the JORC Code.
Aureka has submitted an application for a small mining (prospecting) licence following the identification of Walkers pit as the preferred location.
Aureka is progressing an infill diamond drilling campaign at the pit, with mineralisation comprising auriferous sheared quartz reefs and stockwork zones.
Historical intercepts include 14m @ 7.2 grams per tonne gold (Au) from 18m and 2.2m @ 27.4g/t Au from 63.2m.
Managing Director James Gurry says the Walkers pit area is entirely within a “previously disturbed footprint”, which is encouraging for the company as it progresses the area as the ideal pathway to reopen the Comstock Project.
“It is also a milestone to submit our first production licence application. We look forward to working with our stakeholders to advance this smaller scale minimal disturbance licensing over coming weeks,” Gurry says.
“We also look forward to seeing the progress of the infill diamond drilling program now underway at Comstock and, if results support it, then feeding those results, and 2025 drilling, into a potential update to the maiden mineral resource at the Comstock Gold and Silver Project later in 2026.
“Our first production licence application is another key milestone for Aureka and follows our recent upgrade in JORC resources to 455,000 ounces.
“The in-pit infill diamond drilling at Walkers is progressing to schedule, and while assays remain pending, we are intersecting geological structures and features consistent with our Comstock model.”
Aureka is an Australian explorer focused on advancing gold projects in Victoria.
Write to Maddison Elliott at Mining.com.au
Images: Aureka
