Aureka drill bit chases 786g/t Vic gold trail at Fiddlers Creek

The Wedderburn processing facility is a fully licensed mill and one of only six gold mills in Victoria licensed for external tolling. Notably, Aureka says the current throughput from Fiddlers Creek uses only a fraction of the mill’s 42,000-tonne-per-annum nameplate capacity, leaving significant spare capacity for the company to process ore from its other projects.

In another clever move, the company secured the brains to run the operation, with 30-year veteran metallurgist Marcus Binks nominated to the board. Binks, who has held senior roles at the giant Fosterville and Young-Davidson gold mines, knows the Wedderburn mill intimately, having helped establish and run the facility.

The acquisition of the mill connects the dots on Aureka’s broader strategy, creating a central processing hub for its growing Victorian portfolio. The company’s flagship 398,000-ounce Irvine project sits just 135km from the mill, while its 56,500-ounce Comstock project is less than 50km away.

With rods now turning at Fiddlers Creek, Aureka is not just drilling for gold; it’s drilling to prove a strategy. The company has moved swiftly to acquire a cash-flowing mine, a strategic mill and the expert to make it all sing. And if those spectacular legacy grades are a sign of what is still hiding around Fiddlers Creek, Aureka could be well placed to turn its geological potential into plenty more yellow metal.

Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au