NVDA gained a massive 197% since our AI first added it in November - is it time to sell? 🤔Read more

Astral Resources underscores Feysville’s satellite gold potential with more broad high-grade hits

Published 18/09/2023, 10:56 am
Astral Resources underscores Feysville’s satellite gold potential with more broad high-grade hits
GC
-

Astral Resources NL (ASX:AAR) continues to provide the foundation to make its 100%-owned Feysville Gold Project a satellite source of high-grade ore feed for the company’s flagship Mandilla Gold Project in Western Australia with further strong assay results.

The latest results from a recently completed reverse circulation (RC) drilling at Feysville’s Kamperman Prospect have extended the high-grade gold mineralisation to 240 metres in strike length.

Feysville already hosts a mineral resource estimate of 3 million tonnes at 1.3 g/t for 116,000 ounces of contained gold at its Think Big deposit.

Previous bonanza grades

The RC program saw eight holes completed for 1,110 metres and previously returned impressive results from two holes, including 2 metres at 187.7 g/t gold within 4 metres at 94.84 g/t from 77 metres.

Results for the six remaining holes have now been received, with highlights such as:

  • 21 metres at 4.16 g/t gold from 31 metres, including 2 metres at 12.73 g/t from 47 metres in FRC241;
  • 35 metres at 2.19 g/t from 81 metres, including a higher-grade core of 15 metres at 3.91 g/t from 99 metres in FRC240; and
  • 5 metres at 5.89 g/t from 112 metres, including 1 metre at 20.62 g/t from 114 metres in FRC238.
Geochemical assay results for the Feysville RC program are pending and depending on the outcome, could redirect Astral’s exploration efforts away from Mandilla to Kamperman.

Mandilla and Feysville location map.

Exciting target

“Kamperman is fast becoming an exciting exploration target with each line of relatively wide-spaced RC drilling having returned significant high-grade assay results,” Astral Resources managing director Marc Ducler said.

“These latest results have confirmed the presence of mineralisation at Kamperman over a 240-metre strike length, which remains open to both the north and south.

“Geochemical results from recent drilling, due to be received shortly, will assist in understanding the local geology and, in turn, in targeting the next phase of drilling.”

Other drill results

Astral completed the RC program at Feysville in August, comprising 23 holes for an aggregate 3,202 metres at the Kamperman Prospect (six holes/840 metres), Ethereal Prospect (11 holes/1,490 metres) and Hyperno Prospect (four holes/500 metres).

At Ethereal, only one hole intersected gold mineralisation, returning 1 metre at 26.68 g/t from 149 metres to the bottom-of-hole, while drilling to the south of last year’s program intersected weak mineralisation.

Similarly at Hyperno, only one hole returned a significant intersection of 11 metres at 1.05 g/t gold from 88 metres down-hole.

Mandilla work program

Astral's Mandilla Gold Project is 70 kilometres south of Kalgoorlie in Western Australia and includes the Theia, Iris, Eos and Hestia deposits.

It has an MRE of 37 million tonnes at 1.1 g/t gold for 1.27 million ounces of contained gold, updated in July this year.

Three drill rigs are mobilised at Mandilla, including an RC rig, which has commenced drilling pre-collars for a diamond drill program at Theia.

Once this is completed, the rig will drill the remaining holes from the Theia Southeast infill program that began last month.

A total of 29 holes have been completed to date for 4,380 metres, with seven holes for approximately 1,000 metres remaining to be drilled.

The diamond drilling at Theia will test a potential high-grade position of laminated quartz veining that has been observed between 400-450 metres down-hole in several previous drill holes.

Eight holes for about 2,500 metres have been planned but this could be shortened depending on the outcome of geochemical results at Kamperman.

Elsewhere at Eos, an aircore rig is completing a three-line kilometre program that started in May to test for extensions to the southeast.

An RC rig will subsequently be mobilised to complete additional infill holes to follow up on fresh rock mineralisation intersected within the granitoid earlier in the year.

Astral remains on schedule to report on Mandilla’s scoping study this month.

Read more on Proactive Investors AU

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.