Astral Resources NL (ASX:AAR) has reported a fresh batch of high-grade gold assay results from in-fill reverse circulation (RC) drilling at the Iris deposit, part of its 100%-owned Mandilla Gold Project near Kalgoorlie, Western Australia.
Standout intersections include 4 metres at 21.3 grams per tonne (g/t) gold from 91 metres, 2 metres at 12.8 g/t gold from 120 metres and 5 metres at 5.73 g/t gold from 99 metres. Broader intervals were also recorded, such as 21 metres at 1.59 g/t from 148 metres and 23 metres at 1.00 g/t from 156 metres.
Building resource confidence at Iris
The results stem from a 19-hole, 2,971-metre in-fill RC drilling program designed to increase confidence in the existing Mineral Resource Estimate (MRE). This work extended close-spaced drill coverage (40 by 20 metres) across an area of 140 by 360 metres in the central portion of the deposit.
Map of Iris illustrating drill collar locations of recent and historical drilling on local area geology.
Of particular note, hole MDRC983 returned high-grade mineralisation outside of the current Pre-Feasibility Study (PFS) pit design, such as 4 metres at 21.3 g/t, including 2 metres at 37.9 g/t, and 2 metres at 12.8 g/t, including 1 metre at 24.4 g/t. Astral believes these zones may represent potential additional high-grade feed for the proposed Mandilla processing plant, with follow-up drilling south of this hole already planned.
Cross-section through Iris illustrating drill trace, assay results and geological interpretation.
Managing director Marc Ducler said the second phase of drilling at Iris had again highlighted the strength of the deposit’s higher-grade core, with the results likely to support a further increase in Indicated mineral resources in an MRE update planned for the March 2026 quarter.
“These high-grade results will complement the next resource update at Iris, with further drilling to the south currently being planned,” he said.
Work programs advancing across portfolio
Astral currently has two RC rigs on site. One is completing the first phase of a three-phase, 99-hole, 10,000-metre in-fill program at the Theia deposit at Mandilla, while the other is finishing a 13,500-metre regional RC program at the Spargoville Project. At Theia, diamond drilling targeting high-grade shear-hosted mineralisation is scheduled to commence early in the December quarter.
Map of Mandilla Gold Project on local area geology.
At Spargoville, 68 holes totalling 11,000 metres have been drilled across several prospects, with assays pending. Once complete, Astral will begin a 21-hole, 2,500-metre RC program for its joint venture with Korean state-owned KOMIR, targeting lithium pegmatite anomalies.
The company is also preparing a 47-hole, 7,000-metre RC campaign at the Feysville Project’s Kamperman prospect as part of its broader exploration pipeline.
Read more: Astral Resources hits high-grade gold within pit shell at Kamperman
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Map illustrating the location of the Mandilla, Spargoville and Feysville Gold Projects.
Mandilla PFS and growth potential
The Mandilla project already carries an MRE of 42 million tonnes at 1.1 g/t gold for 1.43 million ounces. A PFS released in June 2025 outlined a standalone project producing 95,000 ounces per year for 12 years from a 2.75-million-tonne-per-annum plant, with a post-tax net present value (NPV8) of $1.4 billion at a gold price of A$4,250 per ounce.
Read more: Astral delivers robust Mandilla gold pre-feasibility with A$2.8B free cashflow forecast
With fresh high-grade results at Iris, ongoing drilling at Theia, and further regional exploration under way, Astral is positioning itself to grow resources ahead of a planned Definitive Feasibility Study, which will advance once the company appoints its preferred engineering partner in coming weeks.