Astral Resources NL (ASX:AAR) advanced drilling and study work at its flagship Mandilla Gold Project during the March 2026 quarter, with activity spanning grade control, resource growth, geotechnical work and deeper drilling.
The company completed 102 reverse circulation holes for 13,069 metres, targeting Theia Stage 2 grade control, extension drilling at the Eos deposit, testing the gap between the Theia and Iris deposits, pre-collars for the Theia deeps diamond drilling program and sterilisation drilling.
Astral also completed 12 geotechnical diamond holes for 868 metres across the Eos and Hestia deposits and the proposed processing plant location.
A six-hole diamond drilling program for about 3,000 metres was also launched at Theia to test for depth extensions below the current Stage 5 open pit design. During the quarter, assay results were reported for 7 diamond holes covering 2,417 metres.
Feysville Gold Project
At the Feysville Gold Project, Astral reported assay results from 17 reverse circulation holes for 2,954 metres from drilling focused on infill and extensional targets at the Kamperman deposit.
The program was aimed at growing the mineral resource and improving understanding of the controls on higher-grade mineralisation within the deposit.
Astral also said its proposed joint venture with Mineral Mining Services Pty Ltd over the Think Big Gold Deposit is expected to be finalised during the June 2026 quarter.
Spargoville Gold Project
The Spargoville Gold Project also saw an extensive drilling campaign during the quarter, with Astral completing 114 reverse circulation holes for 13,947 metres.
This included 39 holes for 4,234 metres of resource definition drilling at the Spiders deposits — Redback, Golden Orb, Huntsman and Trapdoor — within the Wattle Dam Complex, as well as 12 holes for 1,517 metres at the 5B deposit.
The company also completed 63 holes for 8,196 metres of sterilisation drilling over the Mandilla project area.
Assay results from the Wattle Dam Complex drilling program were reported during the quarter, while a broader target generation program across Spargoville identified a significant pipeline of new targets.
Mandilla Definitive Feasibility Study
Astral said the Mandilla definitive feasibility study remains on track, with technical workstreams continuing and permitting and approvals progressing.
During the quarter, the company also began a major heritage clearance survey program across the broader Mandilla tenure, while an updated Mandilla mineral resource estimate by Cube Consulting remains on track for April 2026.
Astral flagged that escalating military conflict in the Middle East during and after the end of the quarter had increased volatility in global oil and gas prices and may continue to affect supply chains, creating some risk around determining undisturbed financial and non-financial inputs for the DFS.
Corporate
On the corporate side, Astral completed tranche 2 of the placement announced in December 2025, issuing 8.4 million new fully paid shares at $0.20 each to raise $1.76 million.
The company ended the quarter with about $73 million in cash, compared with $76 million at the end of the previous quarter.