Proactive Investor: Astral Resources progresses Mandilla DFS and secures JV path for early production
Astral Resources NL (ASX:AAR) advanced its flagship Mandilla Gold Project and broader Kalgoorlie portfolio through an active September quarter, highlighted by key drilling programs, definitive feasibility study (DFS) progress, and a new development partnership aimed at accelerating production.
The company also finished the quarter with a strong cash position of $15.9 million, bolstered by a further $4.96 million in option proceeds received after quarter-end.
At Mandilla, located about 70 kilometres south of Kalgoorlie, Astral completed 8,270 metres of reverse circulation (RC) drilling across 73 holes during the quarter, targeting resource growth at the Theia and Iris deposits and potential mineralisation between them.
Assay results for 105 holes totalling 13,305 metres were reported during and after the period, with strong grades from Theia and Iris reinforcing the project’s scale and continuity.
The activity follows June’s preliminary feasibility study (PFS), which outlined a standalone operation producing an average 95,000 ounces per year over the first 12 years, based on seven open pits feeding a 2.75-million-tonnes-per-annum processing facility. The PFS delivered a base-case NPV8 of $1.4 billion at a gold price of A$4,250/oz, rising to $2.7 billion at A$6,000/oz.
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