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Goldman Additional broad gold zones identified beneath Theia as infill drilling continues to support mine planning
Astral Resources NL (ASX:AAR) has reported further broad zones of gold mineralisation from deep diamond drilling beneath the Theia Deposit at its Mandilla Gold Project in Western Australia, with results extending the system at depth while infill drilling continues to support development planning for the proposed open pit.
The latest results come from two holes in the company’s expanded 11-hole, 6,000-metre deep drilling program targeting extensions to the 1.4Moz Theia Deposit. According to Astral, mineralisation remains open at depth, with one intercept extending approximately 350 metres below the base of the proposed Theia pit.
Among the strongest results reported were:
- 45.53m at 2.15g/t Au from 356.88m, including 0.3m at 170.8g/t Au, 0.3m at 31.8g/t Au and 0.3m at 27.3g/t Au (hole AMRCD259).
- 51.49m at 2.42g/t Au from 128.0m, including 0.9m at 84.2g/t Au, 0.3m at 42.6g/t Au, 0.3m at 17.7g/t Au and 0.3m at 15.8g/t Au (hole AMRCD264).
- 17.4m at 4.66g/t Au from 230.0m, including 1.0m at 65.7g/t Au and 0.3m at 31.9g/t Au (hole AMRCD264).
- 3.23m at 7.90g/t Au from 413.92m, including 0.3m at 82.1g/t Au (hole AMRCD259).
- 22m at 0.63g/t Au from 714m, extending mineralisation well below the current pit design (hole AMRCD259).
The company also reported broad overall mineralised intersections of 268.41m at 0.70g/t Au from 356.88m in hole AMRCD259 and 199.94m at 1.34g/t Au from 47.46m in hole AMRCD264.
Alongside the deep drilling, Astral said results have also been received from a 20m by 20m infill drilling program for the proposed Stage 2 pit at Theia, aimed at upgrading Mineral Resource confidence and further de-risking the Mandilla mine plan. The company noted that Stage 1 infill drilling is ongoing, with 115 holes completed for approximately 11,150 metres, although assay turnaround times remain slow.
Astral also advised that work continues on the Mandilla Definitive Feasibility Study, debt financing activities and approvals required for the proposed development, while contract negotiations for the Think Big early revenue opportunity are nearing completion.
Astral Resources’ Managing Director Marc Ducler said:
The Theia Deeps drill program continues to extend the Theia Deposit at depth, with nine holes now completed and all holes intersecting quartz veining and sulphide alteration indicative of typical proven Theia-style gold mineralisation. Excitingly, the mineralisation continues to remain open at depth.
Following on from the initial success of the deep drilling program, several additional diamond holes are being planned to in-fill the depth extensions, specifically to target Inferred Mineral Resources and to test the up-dip component of the Theia Deeps mineralisation to the north.
Drill results for a 20m x 20m in-fill program for the Stage 2 pit design at Theia have also been received, with results continuing our de-risking of the Mandilla mine plan. Drill spacing in the respective area was previously at 20m x 40m, with several additional programs of drilling required to upgrade the entire Stage 2 pit to Measured Resource classification ahead of mining.
The in-fill program on the Stage 1 pit design at Theia is ongoing, with 115 holes completed for approximately 11,150 metres. Assay turnaround times have been slow, with results received for less than 20% of the holes drilled.
Contract negotiations on the Think Big early revenue opportunity are nearing completion, with all work scopes in relation to advancing Think Big to production progressing contemporaneous with negotiations, in line with the Letter of Intent and as if the contract was in full force. Additional geotechnical drilling has been completed, as has a 6,000 metre in-fill RC program. The Native Vegetation Clearing Permit (NVCP) and Mine Development Closure Plan (MDCP) have both been submitted.
Furthermore, work on the Mandilla DFS is progressing, with capital and operating costs for the process plant currently under internal review. Additionally, early parts of the scope for the Independent Technical Expert’s Report to facilitate debt financing are also underway. Work is ongoing to finalise the location of key infrastructure items to support the mine development which, once complete, will enable formal submission of the NVCP and MDCP.
