Stockhead Investor: Astral carves Theia resource model in stone as drilling highlights gold consistency

Astral Resources’ plans for a standalone gold development at the Mandilla project near Kalgoorlie have been boosted by grade control drilling with results supporting the resource model for the primary Theia deposit.

Assays from the first 17 holes totalling 2030m in the company’s 99-hole infill reverse circulation drill program returned broad zones of gold mineralisation with some exceptional high-grade intersections.

Results received to date include:

• 32m grading 10.78g/t Au from a down-hole depth of 50m including 3m at 99.9g/t from 76m (AMRC029)

• 8m at 1.11g/t Au from 70m and 2m at 95.88g/t from 105m (AMRC023); and

• 1m at 19.8g/t Au from 45m and 34m at 1.56g/t from 62m (AMRC028).

Astral Resources (ASX:AAR) notes the infill results demonstrate a very strong correlation to the current Theia resource of 33.3Mt grading 1.1g/t, or 1.15Moz of contained gold.

The consistency of the gold grade at this stage also demonstrates a very strong correlation with the resource estimate.

“The results of the Theia infill program are critical to the successful development of the Mandilla gold project,” managing director Marc Ducler said.

“Theia represents approximately 75% of the gold production contemplated in the PFS, which highlights the importance of Theia to the overall project economics.”

He added the first set of results were strongly encouraging as they returned not just the high-grade gold mineralisation expected at Theia but also good consistency of mineralisation along the length of the hole in line with model predictions.

Full article: https://stockhead.com.au/resources/astral-carves-theia-resource-model-in-stone-as-drilling-highlights-gold-consistency/