What Are the Key Findings from Astral Resources' Recent Diamond Drilling Program at Theia? Astral Resources Nl

What Are the Key Findings from Astral Resources' Recent Diamond Drilling Program at Theia?

Astral Resources Unveils High-Grade Gold Intercepts at Theia, Mandilla Gold Project

Astral Resources NL (ASX: AAR), a dynamic player in the gold mining sector, has reported outstanding results from its recent diamond drilling program at the Theia deposit within the Mandilla Gold Project. Located approximately 70km south of Kalgoorlie in Western Australia, these results point to significant resource upside potential.

Key Drilling Results: High-Grade Gold Intercepts

The six-hole diamond drill (DD) program completed in November at Theia has yielded impressive high-grade gold mineralization, including extraordinary intercepts of 1 metre at 199g/t Au and 0. 3 metres at 211g/t Au. These findings underscore the high-grade assay population in the deposit. Notable results from the completed DD holes include:

MDRCD828: 304 gram-metres of gold over the hole length, including 39 metres at 5. 43g/t Au and 1 metre at 199g/t Au.

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MDRCD829: 147 gram-metres of gold, featuring several significant intercepts including 9 metres at 1. 71g/t Au and 13. 4 metres at 2. 87g/t Au.
MDRCD827: 100 gram-metres of gold, with a notable intercept of 50 metres at 0. 95g/t Au.

Strategic Exploration and Expansion Efforts

The drilling at Theia aimed to extend the known mineralization and to confirm the lateral extent of a high-grade shear zone previously identified. DD holes MDRCD828 and MDRCD829 successfully targeted deep sulphide-rich zones, while MDRCD827 explored a southern extension at depth.

Implications for the Mandilla Gold Project

Resource Growth: These results highlight the potential for significant resource growth at Mandilla.
Updated Mineral Resource Estimate (MRE): In July 2023, Astral updated the MRE for Mandilla, reaching 1. 27Moz of contained gold.
Scoping Study: A Scoping Study outlined a production target of 845,000oz, with 70% sourced from the Indicated category, demonstrating the project's robust economics.
Metallurgical Testing: High gravity recoverable gold, fast leach kinetics, and exceptional overall gold recoveries with low reagent consumption were confirmed.

Further Exploration and Upcoming Results

Assay results for three additional DD holes at Theia and a three-hole program at Kamperman (Feysville) are expected early in the New Year. Air-core and Reverse Circulation drilling programs are also scheduled to commence at Feysville in early March 2024.

Management's Perspective

Marc Ducler, Managing Director of Astral Resources, acknowledged the team's dedication, which led to significant progress at both Mandilla and Feysville Projects in 2023. He highlighted the recent MRE update and Scoping Study outcomes, emphasizing the consistent delivery of thick gold intercepts in diamond drilling.

Exploration Context and Geological Significance

The Mandilla Gold Project encompasses the Theia, Iris, Eos, and Hestia deposits, with mineralization linked to structurally controlled quartz vein arrays and hydrothermal alteration. Significant structures along the western flank of the project are crucial in localizing gold mineralization.

Project Infrastructure and Future Prospects

Mandilla benefits from existing Mining Leases and favorable metallurgical characteristics. With no third-party royalties, the project is well-positioned for continued exploration and development. The Feysville Project, hosting a 116koz MRE, adds to Astral’s robust project portfolio.

The latest drilling results from Theia not only bolster the resource potential at Mandilla but also position Astral Resources as a key player in the gold mining industry. With a focus on expansion and a strong foundation in resource estimation and project scoping, Astral is poised for significant growth and continued exploration success.

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