Assays from the latest batch of 41 reverse circulation holes totalling 4456m returned a weighted average grade of 1.54g/t gold, validating both the geological and resource models for Theia.

Best results are:

  • 7m grading 10.4g/t Au from a down-hole depth of 133m including 1m at 53g/t Au from 133m (AMRC446)
  • 13m at 5g/t Au from 36m including 1m at 36.8g/t Au from 41m and 1m at 19g/t Au from 46m (AMRC431); and
  • 4m at 13.5g/t Au from 106m including 1m at 45.7g/t Au from 107m (AMRC410).

Further support came from AMRCD374, an RC hole with a diamond tail drilled as part of the Theia Deeps program, which intersected multiple high-grade gold zones within the proposed Stage 1 open pit.

Notable assays from this hole include 1m at 219g/t Au from 25m, 3m at 15.4g/t Au from 141m, 13m at 2.29g/t Au from 62m, 3.35m at 5.86g/t Au from 229m, and 5m at 2.97g/t Au from 47m.

Astral Resources (ASX:AAR) said the results demonstrate the significant potential of the planned Stage 1 open pit.

Managing director Marc Ducler said the results continued to validate the geological and resource models within the proposed Stage 1 pit, with the 1.54g/t weighted average grade across the latest batch exceeding expectations.

“Additionally, drill-hole AMRCD374, which was collared inside the proposed Theia Stage 1 pit as part of the Theia Deeps program has delivered impressive high-grade results,” he noted.

“Although the hole was terminated before reaching its intended Theia Deeps target due to excessive deviation, it intersected multiple high-grade zones including 1m at 219g/t Au, 3m at 15.4g/t Au and 13m at 2.29g/t Au, as well as a host of other mineralised intercepts.

“In all, the 319-metre hole delivered 426.5 gram-metres of mineralisation along the hole length, further reinforcing the high-grade opportunity the early stages of Theia represent.”

The Mandilla PFS has the proposed Theia Stage 1 open pit encompassing 4.2Mt at 1.1g/t Au for 146,000oz of contained gold over the first 21 months of the project.

Infill drilling is designed to tighten Stage 1 drill spacing and support conversion of Stage 1 mineral resources to the higher-confidence measured category.

This will increase confidence in the mine plan and provide a key de-risking milestone for the Mandilla definitive feasibility study and project financing.

In parallel, the Theia Deeps program testing for additional gold beneath the April 2026 resource shell has been expanded to 21 holes totalling 11,000m.

This follows earlier drilling returning broad mineralised zones outside the current resource shell.

Astral now has 225 holes for 22,705m completed in the 431-hole Stage 1 in-fill campaign, while 14 holes have been completed in the expanded Deeps program. More Deeps assays are pending.

The broader Mandilla definitive feasibility study is forecast for completion in the March quarter of 2027, with timing still dependent on the required consents and heritage work.

Heritage surveys have also been completed at Kamperman in Feysville and the Spiders area at Spargoville.

Exploration can recommence at both areas once preliminary reports are received.