Astral Resources builds momentum at Mandilla during June quarter as drilling, resource growth and DFS work advance

Astral Resources NL (ASX:AAR) strengthened the development case for its flagship Mandilla Gold Project during the June 2026 quarter, delivering an updated 1.74-million-ounce Mineral Resource, completing almost 19,600 metres of drilling and progressing the definitive feasibility study towards a targeted March quarter 2027 completion.

The company also advanced a potential early-production opportunity at the Think Big deposit within its Feysville Gold Project and ended the quarter with approximately A$65 million in cash, leaving it well funded to continue drilling, technical studies and project approvals.

The June quarter work program centred on improving confidence in the Mandilla resource, testing the substantial depth potential beneath the proposed Theia open pit and de-risking the project ahead of a future final investment decision.

Major drilling campaign supports development plan

Astral completed 19,598 metres of drilling at Mandilla during the quarter, including 148 reverse circulation holes for 14,782 metres and nine diamond holes for 4,816 metres.

The reverse circulation program focused on in-fill drilling across the proposed first two stages of the Theia open pit outlined in the Mandilla pre-feasibility study.

A total of 132 holes for 13,275 metres was completed across the Stage 1 pit area, while 16 holes for 1,507 metres targeted Stage 2.

The Stage 1 program is designed to convert resources into the Measured category, increasing confidence in the early mine schedule and supporting financing, reserve estimation and the definitive feasibility study.

Results reported after the end of the quarter included several strong high-grade intersections.

Among the best were 4 metres at 16.4 g/t gold from 58 metres, including 1 metre at 61.3 g/t; 10 metres at 5.13 g/t from 37 metres, including 1 metre at 41.8 g/t; and 2 metres at 22.0 g/t from 44 metres, including 1 metre at 43.5 g/t.

Further results included 6 metres at 6.82 g/t from 70 metres, 9 metres at 5.14 g/t from 77 metres and 16 metres at 2.3 g/t from 114 metres.

Astral said the results continued to validate the geological interpretation and Mineral Resource model at Theia, where gold is hosted in broad, laterally continuous zones of quartz-sulphide veining.

The Stage 1 drilling campaign is expected to continue through the remainder of 2026, with further Stage 2 in-fill drilling to follow.

Next steps

Two drill rigs are operating at Mandilla, with work continuing across the Theia Deeps and Stage 1 in-fill programs.

Astral had completed 151 holes for 15,131 metres of the planned 431-hole, 44,400-metre Stage 1 campaign at the time of reporting.

Additional diamond holes have been added to improve confidence in recently identified deep mineralisation and test the system further along dip and up-dip.

Sterilisation drilling will also continue as heritage clearances are received.

Planned reverse circulation and diamond drilling at the Kamperman deposit at Feysville and the Spiders complex at Spargoville remains on hold pending completion of heritage surveys.

The company’s key milestones are the finalisation of project layouts, submission of major approvals, completion of the definitive feasibility study and preparation for a final investment decision in 2027.

Full article: https://www.proactiveinvestors.com.au/companies/news/1096038/astral-resources-builds-momentum-at-mandilla-during-june-quarter-as-drilling-resource-growth-and-dfs-work-advance-1096038.html