Asra Minerals (ASX:ASR) has reported a 23% upgrade to the Mineral Resource Estimate (MRE) for its flagship Mt Stirling Project in Western Australia.
Asra reports that the MRE has been increased from 118,384oz Au to 152,000oz Au.
The MRE for the MS Viserion deposit increased 34% from 102,000oz Au to 137,000oz Au (2,549,000t at 1. g/t Au using a 0.5g/t gold lower reporting cut-off) and was classified as Indicated and Inferred based on drill density, geological understanding, grade continuity and economic parameters of open pit mining (pit optimisation).
The Stirling Well MRE was 15,000oz Au (198,000 tonnes at 2.3g/t Au using a 0.5g/t gold lower reporting cut-off) and classified as Inferred based on data quality, drill density, geological understanding, and grade continuity.
Addressing the upgrade, Asra Executive Chairman Paul Summers said: “We have an expanding pipeline of additional gold targets requiring testing, including key extensions of Stirling Well, Skywing shallow oxide, Estera high grade extensions and Tyrannus plus the high-grade historical mines of Diorite King and Little Wonder.
“We have an expanding pipeline of additional gold targets requiring testing”
Together with our inventory of clean heavy rare earths and critical minerals, Mt Stirling’s multi-commodity portfolio offers incredible upside and news flow over the coming months ahead of a regional gold exploration update.”
Completed by BM Geological Services (BMGS), the MRE update utilised a combined 5 diamond drillholes and 178 reverse circulation holes to create 3D mineralisation wireframes and weathering surfaces.
The interpretation was then used to flag drilling data to be used in estimation of grades into a block model constructed using the Geovia Surpac software package (Surpac). The mineralisation interpretations were completed on 20-40m spaced drilling, using a nominal 0.5g/t Au lower cut-off.
The domains within each deposit were statistically assessed and variogram model were created for the main lodes that were used in the estimation of the other lodes that did not contain enough samples to produce coherent variography.
A top cut was applied to Mt Stirling Well to prevent high grade outliers from affecting the estimation however, it was decided that MS Viserion did not require a top cut. Grades were estimated using Ordinary Kriging and were validated using visual and statistical methods.
Asra Minerals’ flagship Mt Stirling Project in Western Australia’s Eastern Goldfields hosts 10 advanced gold prospects as well as a unique and abundant inventory of clean heavy rare earths elements and critical minerals.
Located near the mining towns of Leonora and Kalgoorlie, Mt Stirling Project has a current JORC compliant total mineral resource estimate of 152,000 gold ounces. The region has recently produced approximately 14Moz of gold from mines such as Tower Hills, Sons of Gwalia, Thunderbox, Harbour Lights and Gwalia. Mt Stirling is nearby to excellent infrastructure including road, rail, and mills.
