Aureka wins licence to restart historic Comstock gold mine
Aureka won a seven-year licence for Victoria's Comstock gold mine, reopening it for mining since 1995.
Aureka Limited won approval to develop Victoria's Comstock gold and silver mine, a step toward restarting the site. The company got the seven-year prospecting licence covering 4.5 hectares near St Arnaud.
The approval came after a fast four-month process. Comstock holds 1.45 million tonnes of ore grading 56,500 ounces of gold and 100,000 ounces of silver.
Aureka plans to feed ore from Comstock and its recently bought Fiddlers Creek mine into its Wedderburn processing mill. The mill is just 45 kilometres away.
Recent drilling showed strong results: 8.9 grams of gold per tonne and 57.8 grams of silver per tonne. However, Aureka has not yet decided to mine.
The company must still get an approved work plan. It must post a rehabilitation bond.
It must also gain Crown Land approval.
- 1.45 million tonnes
- Ore reserve
- 56,500 ounces
- Gold resource
- 100,000 ounces
- Silver resource
- 45 kilometres away
- Wedderburn mill distance
Why it mattersAureka moves from mineral explorer to multi-mine producer. This is a big step in building an integrated Victorian gold company. It will create regional employment.
AustraliaVictorian gold mining resumes at a historic site after 31 years, supporting the state's resources sector and bringing investment to the St Arnaud region.
✓ Claims checked against the source and corrected before publish. checked 4 h ago
