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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.
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