Astral Resources NL has posted a 49% increase in the indicated mineral resource at its flagship Mandilla Gold Project in Western Australia, with the updated resource now exceeding one million ounces of contained gold.
Resource has grown
The total group mineral resource estimate (MRE), including the nearby Feysville Project, now stands at 47 million tonnes at 1.1 g/t gold for 1.62 million ounces.
The updated MRE for Mandilla, 70 kilometres south of Kalgoorlie, is estimated at 42 million tonnes at 1.1g/t gold for 1.43 million ounces of contained gold.
The indicated category alone has grown to 31 million tonnes at 1.1g/t for 1.03 million ounces, which will underpin the Mandilla pre-feasibility study (PFS) scheduled for completion in the June 2025 quarter.
The Theia deposit remains the cornerstone of the project, accounting for 81% of Mandilla’s resource base.
The Theia MRE has increased by 133,000 ounces to 1.15 million ounces, driven largely by in-fill drilling and enhanced geological modelling. Significantly, 72% of Theia’s ounces now sit within the indicated category.
The revised Mandilla MRE reflects a 13% uplift in contained metal from the July 2023 estimate, and the additional 161,000 ounces have been defined at a modest discovery cost of approximately A$26 per ounce.
The consolidated Astral group MRE now includes 5 million tonnes at 1.2g/t for 196,000 ounces from the Feysville Project, 14 kilometres south of Mandilla.
Drilling continues
Drilling is ongoing at Feysville, with reverse circulation and air-core assay results pending.
Astral’s expanded resource base positions the company to progress development studies and initiate Ore Reserve declarations in 2025.
Astral Resources managing director Marc Ducler said: “Since completing the July 2023 MRE followed by the September 2023 scoping study, the key strategic focus of Astral has been de-risking the company’s flagship Mandilla Gold Project which forms the basis of the pre-feasibility study due to be completed in the June 2025 Quarter.
“A key task was upgrading inferred Mineral Resources at Mandilla to the higher confidence indicated category, requiring considerable in-fill drilling at the Theia deposit.
“Our strategy has been highly successful, with this updated 2025 MRE recording an increase in the Mandilla Indicated Mineral Resource of 49% to 1.03 million ounces. These ounces will form the backbone of our ongoing PFS, with additional contribution from the Kamperman and Think Big deposits at Feysville.
“In addition, we are pleased to report an increase in the MRE at Mandilla of 161,000 ounces, delivered at a discovery cost of just $26 per ounce.
“Significantly the Theia Deposit now hosts 1.15 million ounces in a single large open pit, making it the only undeveloped open cut deposit of +1 million ounces south of Kalgoorlie in the prolific Eastern Goldfields district.
“Notably 72% of the Theia ounces are in the higher confidence indicated category.
“Work is continuing to progress the Mandilla PFS, with both OPEX and CAPEX cost models for the process and non-process infrastructure received and under review.
“Mining costs from request-for-quotation submissions having also been recently received, essentially equipping Astral with all of the key cost inputs required to complete the PFS.
“Delivery of the PFS and declaration of first ore reserves in the June Quarter of 2025 will represent a major milestone for Astral.
“Elsewhere, we are delighted to have commenced the process of compulsorily acquiring the outstanding shares in Maximus Resources Ltd, the takeover of which was an important transaction for Astral. The upside exploration potential of a substantially larger tenement package is looking very exciting.
“Meanwhile, at Feysville, exploration results from a recently completed air-core drilling program are due shortly, while a reverse circulation drill program has also recently commenced.
“Taking into account the progress made, and with the gold price recently exceeding A$5,000 per ounce, Astral shareholders have much to look forward to.”