Mark Kavanagh couldn't hide his excitement after Atlantic Jewel sent out an ominous spring warning with a sparkling win in a jump-out at Flemington on Friday.

The unbeaten mare was given the most serious test in her comeback to racing, leading her 800m heat up the straight, clocking a slick 46.10 seconds with a final 400m in 21.68s.

"It's just delightful to have her back. It's just relief," Kavanagh said.

"It's pretty obvious that she's pretty well back. The time was exceptional. She's not a leader and she toyed with them.

"I'm just relieved, I'm tickled pink and I'll be on tenterhooks until I get her back to the track."

Jockey Michael Rodd reported to Kavanagh that the mare "had plenty left in the tank".

"He said 'she was practising and waiting for them'," Kavanagh said.

After watching the work-out, Kavanagh said the Group One Memsie Stakes (1400m) on August 31 at Caulfield was the target for Atlantic Jewel's highly-anticipated return.

"That then gives her an opportunity to go to Moonee Valley a fortnight later," Kavanagh said.

"If I wait for the Let's Elope (on September 7) maybe it just gets to a point where it restricts my avenues of how I place her.

"Certainly nothing is in concrete yet. I'll have to see how she pulled but certainly the way she looks to me today I believe she'll be ready for that race (Memsie)."

Atlantic Jewel has won all seven of her starts including the 2011 Group One Thousand Guineas and last year's Group One All Aged Stakes.

The mare hasn't started since her All Aged victory in April last year with a tendon injury keeping her off the scene last season.

Kavanagh said the patient approach was paying off.

"We've made sure that every possible avenue has been explored for her to get back to the track," he said.

"We've done it with time, patience and everything is going to plan at this stage.

"The last thing we want to do with something like that is say 'I never gave it my best shot', because we have given it our best shot. And we're starting to get excited now."