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Astral Resources NL (ASX:AAR) has recently declared a trading halt as it prepares to disclose significant findings from its extensive drilling operations at the Mandilla Gold Project, located near Kalgoorlie, Western Australia. This announcement comes in the wake of a successful 99-hole drilling campaign at the Theia deposit, which has unveiled a series of high-grade results that bolster the company’s confidence in the project’s potential.
The recent drilling endeavor was conducted with the aim of providing a clearer understanding of the mineralization within the proposed Stage 1 starter pit. The infill drilling was meticulously executed with reverse circulation (RC) techniques across a defined grid, ensuring a comprehensive assessment of the area.
Drilling Results and Their Implications
The recently completed drilling program has yielded an average of 52.2 gram-metres per hole, with an overall average grade of 1.93 g/t gold across all intervals reported. Such findings not only reinforce the geological models used in the Mandilla Pre-Feasibility Study (PFS) but also highlight Theia as a crucial component of the project’s development strategy.
According to Marc Ducler, the managing director of Astral Resources, the results of this drilling campaign have exceeded expectations. He emphasized that the program’s primary purpose was to mitigate risk while securing immediate gold resources for the initial phase of mining. Ducler stated, “These latest results have continued to confirm wide zones of high-grade mineralization within the Stage 1 Theia open pit.” Among the standout findings were several intervals showcasing bonanza grades, such as 1 meter at 184.7 g/t Au and 2 meters at 63.8 g/t Au.
Significance of the Theia Deposit
The Theia deposit is pivotal to the overall success of the Mandilla project, with Stage 1 targeting approximately 4.2 million tonnes at a grade of 1.1 g/t, amounting to around 146,000 ounces of gold over the first 21 months of operation. This initial phase is expected to yield about 75% of the total project ounces, firmly establishing Theia’s role as the engine for the Mandilla project’s economics.
Future Drilling Plans and Developments
Looking ahead, Astral Resources is set to maintain its drilling momentum not only at Mandilla but also at the Feysville project. While the diamond drilling at Theia has concluded, results are still pending for work targeting the interpreted “230 shear” and an adjacent mineralized structure east of Theia. Preliminary visual inspections have indicated an intensely sheared zone, with two holes already showing characteristics similar to Theia’s mineralization.
Moreover, the company has also initiated drilling at Theia West, with nine out of eleven RC holes completed to explore a gap identified between previous drill results. At Feysville, a total of 17 holes have been drilled at the Kamperman deposit, focusing on refining the spacing around known high-grade zones and exploring potential parallel vein systems.
Geotechnical Drilling and Upcoming Studies
As part of its ongoing efforts, Astral’s diamond rig has transitioned to geotechnical drilling at the Hestia and Eos sites, aiming to support an in-depth Definitive Feasibility Study (DFS). The company plans to take a brief pause over the holiday season, with operations expected to resume shortly thereafter.
In summary, the recent drilling results from Astral Resources have significantly enhanced the outlook for the Mandilla Gold Project. The trading halt reflects the company’s commitment to transparency as it prepares to share these promising developments with the market. Investors and stakeholders are keenly awaiting further updates as the company continues to advance its exploration and development initiatives.
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