Astral Resources NL (ASX:AAR) continues to generate strong assay results from in-fill drilling at its flagship Theia Deposit within the 100%-owned Mandilla Gold Project, about 70 kilometres south of Kalgoorlie in Western Australia.
The latest 16 reverse-circulation (RC) holes, totalling 1,765 metres, delivered an average of 50 gram-metres of gold per hole — reinforcing confidence in the geological model and the potential for a highly profitable starter pit as outlined in the Mandilla Pre-Feasibility Study (PFS).
Map of Mandilla Gold Project on local area geology.
Broad, consistent gold intersections
Highlights from the new results include:
- 40 metres at 2.90 g/t gold from 45 metres, including 1 metre at 28.2 g/t from 57 metres and 1 metre at 33.1 g/t from 79 metres (AMRC086).
- 6 metres at 17.3 g/t from 91 metres including 1 metre at 63.4 g/t from 94 metres (AMRC072).
- 8 metres at 5.14 g/t from 117 metres including 1 metre at 28.4 g/t from 123 metres (AMRC069).
- 8 metres at 1.68 g/t from 56 metres and 41 metres at 1.49 g/t from 93 metres (AMRC081).
- 21 metres at 1.80 g/t from 36 metres including 1 metre at 13.7 g/t (AMRC074).
Assays have now been returned for 62 of 99 holes (7,028 metres) in the 10,000-metre in-fill program, which targeted an 80-by-120-metre panel within the Stage 1 open pit at a 12-by-12-metre spacing.
Cross-section through Theia illustrating drill trace, assay results and geological interpretation.
Astral said the results demonstrate a strong correlation with the April 2025 Theia Mineral Resource Estimate of 33.3 million tonnes at 1.1 g/t gold for 1.15 million ounces. Notably, many new intersections exceed the average resource grade.
Management confident in profitable starter pit
Managing director Marc Ducler said the latest batch of results confirmed the quality of the orebody.
“Across these 16 holes, we have averaged 50-gram × metres of gold, giving the team great confidence that we will be commencing Mandilla on a very profitable starter pit at Theia as we kick off potential mine development,” he said.
He added that completion of the RC in-fill campaign paves the way for deeper diamond drilling now under way, targeting high-grade structures within Theia and testing an interpreted parallel zone on the eastern flank.
Both targets “offer the opportunity to further augment the incredible potential of the +1.2-million-ounce Theia deposit”, Ducler said.
Map of Theia illustrating drill collar locations of recent and historical drilling on local area geology.
Drilling expands across Mandilla and Feysville
A 3,000-metre diamond-drill program at Theia is progressing to evaluate those structural targets. Meanwhile, Astral has resumed RC drilling at its Feysville Gold Project, also near Kalgoorlie, with a 17-hole (3,000-metre) program at the Kamperman prospect to chase extensions of high-grade mineralisation, to be followed by a 30-hole regional campaign over 4,000 metres.
Earlier this month, Astral signed a Letter of Intent with Mineral Mining Services Pty Ltd for a development joint venture over the Think Big deposit at Feysville — a deal that could provide near-term cash flow and reduce funding risk as Mandilla advances towards a final investment decision.
Read more: Astral Resources secures development partner for early production at Think Big gold project
Mandilla PFS outlines strong project economics
Mandilla’s June 2025 PFS, based on a 2.75-million-tonne-per-annum processing plant and seven open pits across Mandilla and Feysville, outlined a 12-year mine life producing 95,000 ounces per year. At a base-case gold price of A$4,250 per ounce, the project delivered a net present value (NPV8) of A$1.4 billion, rising to A$2.9 billion at A$6,250 gold.
Astral said the strong continuity of grade now confirmed at Theia further strengthens confidence in those development metrics as it continues to pursue both growth and early-stage production options across its Western Australian gold portfolio.
Map illustrating the location of the Mandilla, Spargoville and Feysville Gold Projects.