Deep Drilling Continues to Expand Theia Deeps

Theia keeps on getting bigger!

If last weeks post was about de-risking the ounces we already know about, today’s news is about finding new ones.

Astral has just released assays from two deep diamond holes, AMRCD260 and AMRCD261, drilled well below the Mineral Resource shell at Theia. The results suggest the deposit may extend significantly further at depth than currently modelled:

- 52.60m at 1.48g/t Au from 389.4m (AMRCD260) sitting right at the base of the current pit shell

- 7.0m at 5.22g/t Au from 583m, and 43.86m at 0.87g/t Au from 605m, up to 250m below the current resource

- 54.0m at 2.38g/t Au from 316m (AMRCD261) entirely outside the current shell, and the hole ended in mineralisation with visible gold at 603m

This is part of a 12-hole, 7,500m deep drilling program (upsized from an original 6 holes) designed to test whether Theia’s mineral system extends beyond what’s already been booked.

Nine holes are done, and two more nearby holes - AMRCD376 and AMRCD262 are showing strong visual indicators with assays still pending.

Theia already anchors ~75% of the ounces in Mandilla’s PFS production case.

Results like this raise a question for the market: how much bigger might this deposit end up being once the deep program wraps?