Cave Hill near Kalgoorlie
Source: Adobe Stock
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

Astral Resources (ASX:AAR) has reported additional high-grade in-fill results and a successful drill test of a previously identified high-grade zone at its Kamperman deposit at its 100% owned Feysville Gold Project near Kalgoorlie, Western Australia. The company says the result highlights the potential for MRE upside at Kamperman.

Feysville hosts an MRE of 3Mt at 1.3g/t Au for 116koz of contained gold at the Think Big deposit, providing a foundation for the project to potentially become a source of satellite ore feed to a future operation based on Astral’s flagship Mandilla Gold Project.

Significant assay results received for the final 11 holes (1,254 metres) of a 31-hole (3,834 metre) reverse circulation (RC) drill program include:

• 33 metres at 3.75g/t Au from 58 metres including 3 metres at 14.8g/t Au from 75 metres in hole FRC387;

• 10 metres at 1.63g/t Au from 131 metres and 22 metres at 5.21g/t Au from 149 metres including 2 metres at 30.9g/t Au from 164 metres and 2 metres at 12.2g/t Au from 168 metres in hole FRC389;

• 22 metres at 4.44g/t Au from 105 metres including 2 metres at 25.9g/t Au from 121 metres in hole FRC388;

This further successful test of an interpreted high-grade shoot adds reinforces the continuity of this zone and Astral’s ability to interpret controls and presents as further upside to the current Kamperman MRE.

The company says the RC rig is now progressing with the in-fill and extensional programs at Iris and Eos respectively and, once complete, will be returned to Kamperman to complete a 15-hole (2,110 metre) in-fill program.

Meanwhile, diamond drilling of four in-fill holes at Theia is progressing well. The first hole of this program has already been completed and a significant number of occurrences of visible gold observed during the logging process.

Plans are now underway to secure a second diamond drill rig. This has the potential to increase the rate of progress of both the current four-hole in-fill program at Theia and the geotechnical program required to inform the open pit parameters for the Hestia and Eos open pits in the Mandilla PFS.

Investors responded negatively to today’s announcement and the stock is down 10.7% at 12.5 cents at 1pm AEST.

Join the discussion: See what HotCopper users are saying about Astral and be part of the conversations that move the markets.

AAR by the numbers
More From The Market Online
The Market Online Video

ASX Market Update: Unemployment remains steady at 4.1% | November 14, 2024

The ASX200 has been up 0.45% at 8,330 points in afternoon trade. Australia’s unemployment rate remained…
The Market Online Video

ASX Market Close: NAB predicts first rate cut will now be May |November 14, 2024

National Australia Bank (ASX:NAB) has become the first major bank to push out its prediction for…

Recce scores $6.75M R&D rebate

Recce Pharmaceuticals (ASX: RCE) has received a cash refund of $6,751,176 Research and Development (R&D) Tax…
HotCopper studio & website with Gumtree branding

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Let’s get straight to the point: of all the smallcaps in the Telecommunications index, The Market Ltd…