Astral Resources (ASX:AAR) Strengthens Mandilla Project with Iris Infill Drill Success

3 min read | December 17, 2024 11:13 AM AEDT | By Team Kalkine Media

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Astral Resources (ASX:AAR) Strengthens Mandilla Project with Iris Infill Drill Success — Image source: shutterstock

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Highlights

Astral Resources’ (AAR) Iris drilling program confirms significant gold mineralisation.

Upcoming pre-feasibility study (PFS) to include Iris within the Mandilla Project.

Extensive drilling results expected in the new year, enhancing project development.

Astral Resources (ASX:AAR) has reported encouraging results from its infill drilling at the Iris Deposit, part of the Mandilla Gold Project, located near Kalgoorlie, Western Australia. The program successfully demonstrated the continuity of gold mineralisation across three drill lines within Iris, further supporting the project’s development as Astral advances toward its pre-feasibility study (PFS).

The Iris Deposit currently has a mineral resource estimate (MRE) of 4.4 million tonnes at 0.8 grams per tonne (g/t) gold, translating to 115,000 ounces of contained gold. Astral focused the recent drilling on a 60 by 280-metre section to improve resource classification to the indicated category. The reverse circulation (RC) drill program comprised 21 holes, covering a total of 3,702 metres. Results showed that gold mineralisation remains consistent, with significant intercepts, including 28 metres at 1.5 g/t gold and a standout zone of 5 metres at 10.3 g/t gold, which included a single metre at 47.1 g/t.

Astral Resources’ managing director noted that these results confirm the deposit’s potential to contribute meaningfully to the upcoming PFS, which remains on track for delivery in 2025. Following the success of this drill program, plans are underway to expand the infill drilling across the remainder of the Iris Deposit.

Mandilla Gold Project Advancing with Robust Development Plans

Astral Resources’ Mandilla Project comprises multiple deposits, including Theia, Iris, Eos, and Hestia. The latest scoping study estimates a net present value (NPV) of $442 million, supported by strong gold recovery and processing rates. While the study primarily accounted for Theia, Hestia, and Eos deposits, the Iris resource presents an additional upside for future development.

Exploration efforts are ongoing across Mandilla, with programs recently completed at the Eos and Kamperman deposits. Sixteen holes covering 2,558 metres at Eos, alongside a smaller three-hole program at Kamperman, will provide further insights into fresh rock gold mineralisation, with assay results expected early next year.

Additionally, Astral completed a four-hole diamond drill program at Theia, further testing mineralisation and collecting samples for metallurgical studies. The company expects these results to flow in the new year, setting a positive tone for continued exploration.

Astral Resources (AAR) remains committed to advancing its gold projects, with ongoing drilling efforts and resource updates aimed at enhancing the Mandilla Project's development potential.

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