Drilling Outcomes from Astral Resources Gold Boost Resource Prospect in Mandilla
In a significant development, Astral Resources (ASX: AAR) has announced exceptional in-fill drilling results from its Iris Deposit, part of the company's 100%-owned Mandilla Gold Project near Kalgoorlie, Western Australia.
The high-grade results, located outside the current Pre-Feasibility Study (PFS) pit designs, include 4 meters at 21.3g/t Au, 2 meters at 12.8g/t Au, 5 meters at 5.73g/t Au, 21 meters at 1.59g/t Au, 23 meters at 1.00g/t Au, and 15 meters at 1.22g/t Au. These findings were delivered by the recent 19-hole (2,971-meter) in-fill reverse circulation (RC) drill program at the Iris Deposit.
The recent drilling program has significantly expanded the area covered by detailed drilling at the Iris deposit to 140 meters by 360 meters. This expansion is expected to further enhance the project's potential for resource growth.
The Mandilla project has a production profile of 95,000 ounces per year for the first 12 years. The Net Present Value (8% discount rate) of the project is $1.4 billion (based on A$4,250/oz gold price). The project's PFS, published in June 2025, demonstrated robust economics. The Mandilla Definitive Feasibility Study is currently underway, with the preferred engineering partner expected to be appointed on completion of a competitive tender in the coming weeks.
Astral Resources is also conducting an in-fill drilling program at the Theia Deposit, with a 99-hole/10,000-meter program currently 20% complete. Diamond drilling targeting high-grade shear-hosted gold mineralisation within and adjacent to Theia is expected to commence early in the December Quarter.
Gold mineralisation at the Mandilla project occurs in several geological settings, including structurally controlled quartz vein arrays and hydrothermal alteration near the western margin of the Emu Rocks Granite.
Astral Resources has a diversified project portfolio, with active exploration across Mandilla, Spargoville, and Feysville. The company responsible for gold production in the Mandilla Gold Project is Gold Road Resources.
The upgrade from Inferred to Indicated resources is significant for investors as it demonstrates higher geological confidence and allows resources to be considered for conversion to reserves in economic studies. A 21-hole (2,500-meter) RC program will commence on behalf of a joint venture with KOMIR to investigate lithium pegmatite targets after the completion of the Spargoville program.
RC drilling is ongoing at Eagles Nest, part of the 100%-owned Spargoville Project, with 68 holes for 11,000 meters drilled to date. The latest Astral Resources gold drill results at Iris, particularly the high-grade intercepts outside the current pit design, demonstrate potential for resource growth.
