Astral Resources (ASX:ARL) Elevates Group Gold Resource to 1.76Moz, Boosting Strategic Position in ASX 300

May 07, 2025 12:03 PM AEST | By Team Kalkine Media

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Astral Resources (ASX:ARL) Elevates Group Gold Resource to 1.76Moz, Boosting Strategic Position in ASX 300 — Image source: shutterstock

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Highlights

Astral Resources (ARL) adds 139,000 ounces to its gold resource with the Spargoville Gold Project.

Total Group Mineral Resource Estimate (MRE) now stands at 1.76 million ounces of gold.

Strategic acquisition enhances exploration and development potential in Western Australia.

Astral Resources NL (ASX:ARL) has significantly increased its total Group Mineral Resource Estimate (MRE) to 1.76 million ounces (Moz) of gold after incorporating the Spargoville Gold Project into its portfolio. This addition boosts the company’s gold reserves and positions it for potential growth within the ASX 300.

The updated Spargoville MRE, restated under Astral’s economic parameters, includes 3 million tonnes at 1.4 grams per tonne (g/t) gold, translating to 139,000 ounces. This follows Astral's acquisition of Maximus Resources, with Spargoville located adjacent to the company’s Mandilla Gold Project in Western Australia. The addition complements the existing MRE at Mandilla, which stands at 42 million tonnes at 1.1 g/t for 1.43Moz, and Feysville with 5 million tonnes at 1.2 g/t for 196,000 ounces.

The total consolidated MRE for Astral Resources (ARL) now reaches 50 million tonnes at 1.1 g/t gold for 1.76Moz. This increase in resources is part of Astral’s ongoing strategy to enhance its footprint in the gold mining sector, providing greater operational efficiency and exploration opportunities at Mandilla.

Astral’s managing director, Marc Ducler, emphasized the importance of establishing a baseline for the newly acquired resources. The company’s standard approach involves regularizing block models to more accurately reflect the likely dilution during open-pit mining, ensuring a solid foundation for future mine optimizations. Although the updated Spargoville estimate reflects a reduction in ounces compared to previous estimates, it aligns with Astral’s rigorous approach to ensuring economic extraction.

Exploration upside is evident with a significant drilling program under consideration for the September 2025 quarter. Spargoville encompasses several key deposits, including Wattle Dam, Eagles Nest, Larkinville, and Hilditch, contributing to the gold resource potential.

Astral Resources (ASX:ARL) also noted the strategic significance of the acquisition, which not only adds gold reserves but also provides a larger tenure footprint for the development of the Theia deposit and future infrastructure optimization. This acquisition, coupled with the already successful Mandilla Project, reinforces Astral’s position within the ASX 300 and opens up further prospects in the region.

For those looking into ASX dividend stocks or exploring opportunities in the ASX 300, Astral’s recent moves showcase its continued growth potential in the precious metals sector. As the company progresses with drilling programs, the increased gold resource and development capacity enhance its long-term outlook.

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