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Highlights
- Astral Resources reports a significant 98.2% gold recovery from Theia deposit.
- Consistently low reagent consumption aligns with previous results.
- Upcoming resource upgrade and PFS in the M&A-rich Goldfields region.
Astral Resources (ASX:AAR) has announced exceptional metallurgical results from its key Theia deposit, part of the Mandilla gold project located south of Kalgoorlie. The latest metallurgical test work has indicated an impressive average gravity recovery of 87.6% and a remarkable 98.2% total gold recovery in just 24 hours of leaching. This outcome has been achieved with low cyanide and lime consumption, reported at 0.35kg/t and 1.9kg/t, respectively. These findings reinforce the high efficiency of the recovery process and echo previous demonstrations of superior recovery rates, rapid leaching kinetics, and minimal reagent usage.
The Mandilla project, encompassing over 1.265 million ounces of open-pittable gold, is set to expand as recent drilling yielded a record high intercept. Managing Director Marc Ducler emphasized Theia's outstanding metallurgical properties, visible in both oxide and fresh rock samples. He highlighted the comprehensive test work conducted across 234 samples from various sections of the Theia ore body, which confirmed the deposit's robust recoverability and potential for low processing costs due to a coarser grind size of 150μm.
Ducler further noted that the focus remains on delivering a technically sound and financially viable prefeasibility study (PFS). The continuous positive results from Theia and other deposits significantly support the risk management of the project. Cube Consulting is close to completing the updated mineral resource estimate for Mandilla, with results anticipated in the first quarter. Subsequent mine design efforts will align with PFS objectives.
In tandem with these developments, Astral is also advancing its Feysville project. Results from recent diamond and air-core drilling operations are expected soon, with a reverse circulation (RC) drilling program slated for March 2025. Furthermore, Astral Resources has strengthened its strategic position in the Goldfields through an off-market takeover of Maximus Resources, intended for tenement consolidation rather than mere resource expansion.
As mergers and acquisitions intensify in the Western Australia gold sector, Astral's strategic location near the sizeable St Ives mine primes it for potential interest. Nevertheless, Astral remains committed to developing the Mandilla project independently, boasting its status as the region's sole junior miner with a million-ounce asset. This strategic focus, combined with forthcoming updates and studies, positions Astral Resources to attract considerable attention in the gold industry.
