Asra Minerals (ASX:ASR) is preparing to kick off a reverse circulation (RC) drilling program at its Little Wonder Gold deposit within the Mt Stirling Project in Western Australia.
Subject to relevant approvals, the $13.10 million market capitalisation company is planning to kick off drilling in Q1 2024, comprising 10 to 12 holes for 2,000m of drilling.
The drilling will aim to evaluate the old mine site’s potential, test for mineralisation extensions along-strike, and better understand the gold mineralisation controls in the region.
Asra Minerals Managing Director Rob Longley says during last week’s site visit, the company confirmed the geological position of the deposit was directly comparable with ‘large’ historical gold mine settings in the Leonora region.
“It makes perfect sense to get the drill bit back into our golden roots at Mt Stirling as the Australian and US gold price remains strong.
Simultaneously, field teams are undertaking geochemical soil surveys for lithium mineralisation at Lake Johnston in our Southern Hub, and metallurgical work continues on our Yttria REE deposit in our Northern Hub.
With a bolstered exploration team and new funding in the bank through our recent placement, we are excited to deliver exploration results on our gold and critical minerals projects in this highly prospective region.”
“With a bolstered exploration team and new funding in the bank through our recent placement, we are excited to deliver exploration results on our gold and critical minerals projects in this highly prospective region”
Asra Minerals is a multi-commodity-focused explorer targeting gold, lithium, and rare earth element projects in the premier Goldfields region of Western Australia.
As of 30 September 2023, the company had $2.11 million cash at hand, according to its latest quarterly report. Post-quarter-end, Asra conducted a placement to raise $2.5 million.
Write to Aaliyah Rogan at Mining.com.au
Images: Asra Minerals