Astral strikes more broad gold beneath planned Theia pit

Results from holes AMRCD259 and AMRCD264 come from Astral Resources’ (ASX:AAR) expanded 11-hole, 6000m diamond program targeting extensions to the cornerstone 1.4Moz Theia deposit.

AMRCD259 hit 268.41m at 0.70g/t Au from 356.88m, including 45.53m at 2.15g/t and 3.23m at 7.90g/t, plus a deeper 22m at 0.63g/t from 714m that pushes Theia about 350m below the planned open pit.

Hole AMRCD264 added 199.94m at 1.34g/t Au from 47.46m, including 51.49m at 2.42g/t and 17.4m at 4.66g/t.

Managing director Marc Ducler said the Theia Deeps program had extended the deposit, with nine holes completed, all showing quartz veining and sulphide alteration typical of Theia-style gold mineralisation.

“The mineralisation continues to remain open at depth,” he said.

“Astral plans more diamond holes to infill the depth extensions, target inferred resources, and test the up-dip component of Theia Deeps to the north.”

Deep dive: AMRCD259 has pushed Theia about 350m below the planned pit, hitting 268.41m at 0.70g/t gold plus a deeper 22m zone. Pic: AAR

Deep drilling is underway alongside infill work across the proposed Theia open pit.

Astral has received assays from a 43-hole, 4324m RC program designed to tighten a portion of the Stage 2 Theia open pit to 20m by 20m drill spacing.

Best results included 8m at 10.5g/t Au from 42m in AMRC249, including 1m at 58.9g/t and 1m at 17.9g/t.

Other notable hits included 5m at 4.18g/t from 70m in AMRC273, 13m at 1.98g/t from 44m in AMRC268 and 3m at 5.19g/t from 76m in AMRC289.

Astral said mineralisation to date matched its geological model for Theia, with broad, consistent grade intervals in laterally continuous quartz-sulphide zones.

Astral now has two rigs on the ground at Mandilla.

The diamond program is ongoing, with nine holes completed from the expanded 11-hole plan, while the RC rig is drilling out the rest of the Stage 1 Theia open pit to support a further lift in measured resources.

About 11,150m has been drilled from the planned 23,000m first stage program, with most assays still to come.

The work forms part of Astral’s broader push to de-risk Mandilla ahead of a final investment decision.

Mandilla hosts a 53.5Mt at 1.0g/t resource for 1.74Moz, with Theia the cornerstone deposit.

The June 2025 PFS outlined a standalone 2.75Mtpa operation across Mandilla and Feysville, producing about 95,000oz a year for the first 12 years.

At a base case gold price of A$4250/oz, the PFS delivered a $1.4bn NPV8, rising to $2.9bn at A$6250/oz.

For Astral, the latest drilling adds more evidence that Theia has room to grow beneath the current mine plan, while shallow infill drilling continues to tighten confidence around the proposed open pit.