Aureka (ASX:AKA) has divested its interest in the Tandarra Gold Joint Venture Project in Victoria for $1.3 million cash, after conducting a strategic review of the project.
Cash will be distributed to the Irvine Gold Project, also located in Victoria, where Aureka will streamline continued diamond drilling and attain permanent land access.
The company recently received assays, featuring 10m @ 12.1 grams per tonne gold from 413m, including 0.3m @ 183g/t gold from 413m and 0.3m @ 64.3g/t gold from 413.8m.
These intersections were uncovered along the Tenacity Hanging Wall Fault, where the company is currently drilling nearby.
The company began its strategic review in early October, as reported by Mining.com.au.
The company currently holds a 49% stake in the project in a joint venture with Catalyst Metals (ASX:CYL).
The Tandarra Project is prospective for three main areas: Tomorrow, Macnaughtan, and Lawry.
The gold price flattened out in the first two months of the September quarter at around the US$3,200 to US$3,500 an ounce range on the back of some better indicators of the global economy including the US, de-escalating trade tensions, and rebounding equity markets.
A push since mid-September 2025 to record highs came as signs of weaker US jobs growth spurred speculation of interest rate cuts in America.
According to the Department of Industry, Science and Resources (DISR) September 2025 Resources and Energy Quarterly, limiting the downside to the gold price in the near term is the ongoing uncertainty from tariffs on the US economy, geopolitical concerns, and possible further US dollar weakness.
As official US interest rates come down, DISR notes demand for the precious metal will increase on a lower opportunity cost of interest-bearing deposits.
“Worries over rising US inflation have added to gold’s attractiveness: gold is viewed by some as an inflation hedge. Alongside increased safe-haven demand by investors since 2022, stable and high central bank purchasing of gold has underpinned gold prices in recent years,” DISR reports.
“Based on likely sustained volumes of central bank purchasing, the gold price is forecast to stay around US$3,200 an ounce.”
The gold price was sitting at US$4,050 at the time of writing.
Aureka is an Australian gold explorer focused on uncovering discoveries in Victoria.
Write to Maddison Elliott at Mining.com.au
Images: Aureka
