Astral hits 115g/t gold during infill program, anticipates MRE upgrade

Astral Resources Ltd (ASX:AAR) has found wide zones of high-grade gold – including up to 115.7 grams per tonne (g/t) – taken from the first two holes in a four-hole infill diamond drilling program at the Mandilla gold project near Kalgoorlie.

From the first hole, the best results included 28 metres at 2.63g/t Au from 149 metres including 0.5 metres at 115.7g/t Au from 152.3 metres and 0.3 metres at 20.3g/t Au from 173 metres.

In the second hole, top results included 8.9 metres at 1.04g/t Au from 86.3 metres; and 15.3 metres at 0.78g/t Au from 99.3 metres, including 0.4 metres at 20.9g/t Au from 113.2
metres.

Additionally, these results – which specifically targeted the Theia Deeps area – strongly correlate with the current Mineral Resource Estimate (MRE) mineralisation wireframes and are likely to support the conversion of Mineral Resources into the higher confidence Indicated category.

Mandilla’s current MRE is currently set at 1.3 million ounces.

Astral managing director Marc Ducler said the results had provided a boost to resource expectations at the project.

“Pleasingly, the intersections appear to conform well to the current MRE, giving us belief that we will see increases in the higher confidence Indicated category when the MRE is updated during the March Quarter,” he said.

“Assay results for the final two diamond drill holes are expected to be received shortly.

“Based on observations from drill-hole logging, we are confident similar results will be achieved.”

Astral has been trading flat at 14 cents.

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