Aureka Granted Prospecting Licence PL008915 for Comstock Gold & Silver Project at St Arnaud

Mukul

05 November 2026 03:14 PM AEDT

Aureka Granted Prospecting Licence PL008915 for Comstock Gold & Silver Project at St Arnaud

Image Source: Krish Capital Pty Ltd

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Aureka Limited (ASX:AKA) has been granted Prospecting Licence PL008915 over its Comstock Gold & Silver Project, located approximately 2km north-northwest of St Arnaud, Victoria, with the licence granted by Resources Victoria on 4 November 2026.

Key Points

Prospecting Licence PL008915 granted by Resources Victoria on 4 November 2026, within four months of application acceptance on 16 July 2026.
The licence covers approximately 4.5 hectares, including the Walkers Zone and the main Comstock Shear, entirely within the previously disturbed Comstock mine site within St Arnaud Regional Park.
The licence was applied for and granted for a term of seven years, with no extensions available under a Prospecting Licence.
Ore from Comstock is planned to be processed at Aureka's 100%-owned Wedderburn Gold Processing Mill, located approximately 45km from the project site.
The grant of the licence does not constitute a decision to commence mining, and Aureka has not made a decision to mine at Comstock.

Prospecting Licence PL008915 Terms and Coverage

The application for PL008915 was lodged by North Central Gold Exploration Pty Ltd, a wholly owned subsidiary of Aureka, on 1 July 2026 and accepted by the regulator on 16 July 2026. The licence was granted for a seven-year term, the maximum available under a Prospecting Licence, with no extension permitted. The proposed program of work is described as small-scale selective underground mining, shallow excavations and rehabilitation focused at the southern end of the pit. The licence area is located entirely within Crown Land within the St Arnaud Regional Park, and the licence could be superseded by a conventional Mining Licence if future geological work supports this.

Licence Conditions and Regulatory Requirements

The licence is subject to standard conditions of grant, including an approved work plan, rehabilitation bond, and other standard conditions applicable to a planned mining operation under a Prospecting Licence in Victoria. Because the licence area sits within Crown Land in the St Arnaud Regional Park, consent from the Crown Land Minister through Parks Victoria is required before any works commence. The licence is also subject to the Djaara (Dja Dja Wurrung Clans Aboriginal Corporation) Land Use Activity Agreement, which includes consultation and notification requirements. Aureka stated it will engage with the Djaara, Parks Victoria, the St Arnaud community, neighbouring landholders and other stakeholders before any site work begins.

Planned Processing at Wedderburn Gold Mill and Next Steps

Comstock ore is planned to be processed at the Wedderburn Gold Processing Mill, approximately 45km from the project site, which Aureka disclosed has ample spare capacity to process ore from both Comstock and Fiddlers Creek. Comstock ore will be subject to metallurgical testing building on historical processing records for the site. Next steps disclosed by the company include obtaining Parks Victoria and Crown Land Minister consent, engaging with the Djaara and local community, developing operating procedures to meet Land Use Activity Agreement conditions, and conducting metallurgical testing and further exploration. The company stated these steps are to be completed before any site work starts.

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