Asra Minerals (ASX:ASR) is targeting down-dip extensions of the known ‘high-grade’ gold mineralisation with its new drilling program at Leonora South Gold Project in Western Australia.
The company will begin drilling at the Orion and Sapphire deposits with six holes for 1,000m of reverse circulation drilling and 300m of diamond tail drilling.
The program will involve drilling three holes at Sapphire and Orion, respectively. Asra says the primary objective is to confirm the continuity of mineralisation at depth and evaluate the potential for resource expansion.
The program is expected to take three to four weeks to complete with the first assay results expected in six to eight weeks.
Challenge Drilling and Terra Drilling has been brought on board to assist this program, with all parties agreeing to a drill-for-equity agreement.
Asra has the option to issue $250,000 worth of shares to Challenge Drilling and Terra Drilling for its involvement in the program at an issue price of $0.002 each. The issue of shares will be subject to shareholder approval.
Upon completion, the company will conduct exploration work, targeting newly identified, high-priority areas at the Gladstone prospect.
CEO Paul Stephen says the company is focused on unlocking a deeper potential of the high-grade gold identified in previous efforts by supporting resource extension at both Orion and Sapphire.
“The insights gained from our recent aeromagnetic review, coupled with the encouraging results from last year’s drilling, give us strong confidence in the potential to significantly expand our resource at Leonora South,” Stephen says.
Asra Minerals is an exploration company with prospects across Western Australia’s Eastern Goldfields region, targeting gold exploration.
Write to Maddison Elliott at Mining.com.au
Images: Asra
