Astral Resources (ASX:AAR) will launch a follow-up drilling program next year at its Eos deposit, which is part of its Mandilla Gold Project in Western Australia.
The $63.38 million market capitalisation company says further drilling is required to determine both the nature and structural controls on mineralisation and its extent following the receipt of ‘high-grade’ results.
The follow-up program will start once all assays from the latest drilling programs have been received.
This news comes after an 11-hole reverse circulation (RC) and 37-hole aircore (AC) drilling program was undertaken at the Eos deposit. That program further demonstrated the potential for a shallow primary gold resource, as well as an expanding palaeochannel deposit sitting above the Archaean rocks.
Some of the ‘best’ results recorded include hole MDRC852 with 4m @ 3.22 grams per tonne (g/t) Au from 38m and 6m @ 5.57g/t Au from 48m; and hole MDRC842 with 3m @ 2.81g/t Au from 57m and 19m @ 0.65g/t Au from 90m.
The company reports the results from hole MDRC852 represent the ‘highest-grade’ intersection returned to date at Eos from primary mineralisation.
Astral Resources Managing Director Marc Ducler says the recent drilling program has delivered on both fronts, with RC drilling highlighting the presence of primary gold mineralisation and extending the ‘high-grade’ central channel by a further 120m to over 600m in total strike.
“A small program of diamond drilling is now required for Eos to gain a better insight into the nature and possible structural controls of the primary gold mineralisation in this area. This will occur in 2024 when our drill schedule best allows.
A 3-hole diamond program following up on previous high-grade RC drilling has recently been completed at the Kamperman prospect. Preparations are now underway for a 2,500m RC program at the same prospect, likely to commence early in the March quarter 2023.
Preparations are now underway for a 2,500m RC program at the same prospect, likely to commence early in the March quarter 2023
This will further evaluate the high-grade gold potential of the exciting Kamperman prospect.”
Astral Resources is a Perth-based gold and base metals explorer. The Mandilla Gold Project sits in the northern Widgiemooltha greenstone belt in the western part of the Kalgoorlie geological domain in Western Australia.
As of 30 September 2023, the company had $4.1 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Astral Resources
