Astral Resources expands Theia Deeps with broad, high-grade gold intersections

Astral Resources NL (ASX:AAR) has delivered broad, high-grade gold intersections from deep drilling at the Theia deposit, strengthening the case for a material resource expansion at its 100%-owned Mandilla Gold Project near Kalgoorlie in Western Australia.

Results from drill holes AMRCD260 and AMRCD261 intersected mineralisation both within and beyond the April 2026 resource shell, including zones extending as much as 250 metres below the current model.

The results form part of an expanded 12-hole, 7,500-metre diamond drilling program targeting the broader scale and depth potential of the cornerstone 1.4-million-ounce Theia deposit. Nine holes have now been completed.

Mandilla development platform

Mandilla hosts a mineral resource of 53.5 million tonnes at 1.0 g/t gold for 1.74 million ounces, with Astral’s broader project portfolio containing 2.07 million ounces.

A 2025 pre-feasibility study outlined seven open pits feeding a 2.75-million-tonne-per-year processing plant and producing about 95,000 ounces annually for the first 12 years. The study generated a post-tax net present value of $1.4 billion at a gold price of A$4,250 per ounce.

What’s ahead

Astral will complete the remaining holes in the expanded Theia Deeps program before assessing the potential for a resource upgrade and further drilling.

Two rigs are operating at Mandilla, while infill drilling within the proposed Stage 1 open pit continues.

Astral has completed 140 holes for 13,750 metres of a planned 431-hole, 44,400-metre program, which is expected to run through the remainder of 2026.

Full article: https://www.proactiveinvestors.com.au/companies/news/1095369/astral-resources-expands-theia-deeps-with-broad-high-grade-gold-intersections-1095369.html