Astral Resources reels in more broad gold below Theia

Astral Resources has strengthened the case for resource growth at its Mandilla project near Kalgoorlie after drilling intersected more broad gold below the current Theia resource shell (reports Stockhead).

Fresh assays from the Theia Deeps diamond drilling program included 22m at 2.73g/t Au from 361m in hole AMRCD375 along with 2m at 12.8g/t Au from 390m and 5m at 4.14g/t Au from 380m in hole AMRCD424.

The latest drilling intersected further gold mineralisation beneath the base of the April 2026 resource shell, which Astral Resources (ASX:AAR) says demonstrates the growth potential of the cornerstone 1.4Moz Theia deposit.

These holes also returned broad zones of gold mineralisation within the shell such as 49m at 0.9g/t Au from 284m (AMRCD375) and 49m at 1.23g/t Au from 252m (AMRCD424).

The results come after AAR expanded Theia Deeps several times to its current 21-hole, 11,000m program.

Fifteen holes have been completed to date, with drilling focused on testing the width and strike extent of mineralisation discovered beneath the existing resource.

“The highly successful Theia Deeps drill program is continuing to confirm wide high-grade zones of gold mineralisation within the existing Mineral Resource shell, while also demonstrating significant growth potential at depth,” AAR managing director Marc Ducler said.

AAR is running Theia Deeps alongside a large reverse circulation infill drilling program across the planned Theia Stage 1 open pit.

Some 336 holes for 23,900m have been completed from a planned 431 holes for 44,400m.

Results from both programs are expected to feed into an updated Mandilla mineral resource, which AAR says is likely to be scheduled for the March quarter of 2027.

Ducler notes the Theia Deeps diamond drilling program and Theia RC infill program remain in progress.

“Assay results from both programs will support an update to the Mandilla MRE, likely to be scheduled in the March Quarter 2027,” he said.

Resource work is running in parallel with the company’s development studies.

A June 2025 pre-feasibility study outlined seven open pits across Mandilla and Feysville feeding a standalone 2.75Mtpa plant, producing about 95,000oz a year for the first 12 years.

This highlighted a base-case NPV8 of A$1.4bn at A$4,250/oz gold.

A definitive feasibility study is now under way and remains targeted for the March quarter of 2027, with a final investment decision expected to follow, subject to the remaining technical, heritage and approval work.