Aureka (ASX:AKA) has uncovered the visual presence of sulphide mineralisation within surrounding sediments via an ongoing drilling program at the Irvine Project in Victoria.
The first diamond drillhole, RD045, is progressing and is expected to be completed in the coming days.
Aureka, which has a market capitalisation of $15.36 million, says sulphide minerals have been encountered in several locations internally within the Irvine basalt as well as the western sedimentary sequence.
Additionally to sulphides being identified, several occurrences of broad disseminated pyrrhotite and arsenopyrite have been identified within the basalt. Aureka says these are associated with shear structures and possible interflow sediments.
All of the identified zones of interest are being prepared for dispatch to the laboratory for analysis.
Managing Director James Gurry says the company has plenty to look forward to as results of drilling are interpreted in the weeks ahead.
The Irvine Project hosts an inferred resource of 304,000 ounces of gold @ 2.43 grams per tonne gold.
Aureka is a Victoria-focused gold explorer with a portfolio of projects across the state. The company’s assets include the Irvine, Tandarra, and St Arnaud projects.
Write to Aaliyah Rogan at Mining.com.au
Images: Aureka
