The four deposits that make up Mandilla now boast 37 million tonnes grading 1.1 grams per tonne for 1.27 million ounces, a 22% increase since December 2022, added for an estimated $18/oz.
Infill drilling has allowed inferred resources to increase 69% to 694,000oz, and will form the basis of development studies.
A scoping study is already underway and is due by the end of the year.
Encouragingly, the resource is based on an extremely conservative $2500/oz gold price and a 0.39gpt cut-off.
Overall, Astral’s resources are now 1.38Moz once the 116,000oz from the nearby Feysville project are added in.
The Theia deposit remains the focus, with total resources of 1.02Moz, with the addition of 143,000oz, while Hestia resource has jumped 583% to 82,000oz at 0.9gpt. Hestia’s grade has also improved.
Resources for Iris and Eos were largely unchanged.
Astral calls Theia “one of the largest single open pit resources in the Kalgoorlie region”, saying only Northern Star Resources’ Super Pit and Red Hill pit surpass it.
Theia remains open at depth, and an ongoing structural review is expected to refine deeper targets.
Managing director Marc Ducler said with five successive resource upgrades for Mandilla over 26 months, and the latest based largely on infill drilling, there was a good chance that Astral can continue to add to resources at low discovery costs.
He said the next year marked the beginning of Astral’s transition from explorer to mine developer.
The company will resume drilling at Feysville in early August, before returning to Mandilla.
