en.Wedoany.com Reported - Astral Resources (ASX:AAR) has achieved results from an expanded diamond drilling program at the Mandilla Project, comprising 11 holes for a total of 6,000 meters, targeting the expansion of the cornerstone 1.4-million-ounce Theia deposit.
Hole AMRCD259 intersected 268.41 meters at 0.70 g/t gold from 356.88 meters depth, including high-grade intervals of 45.53 meters at 2.15 g/t and 3.23 meters at 7.90 g/t. The hole also intersected 22 meters at 0.63 g/t gold from 714 meters depth, extending the Theia orebody approximately 350 meters below the proposed open pit.
Another hole, AMRCD264, intersected 199.94 meters at 1.34 g/t gold from 47.46 meters depth, including rich zones of 51.49 meters at 2.42 g/t and 17.4 meters at 4.66 g/t.
Managing Director Marc Ducler stated that the Theia Deep project has already expanded the deposit scale, with all nine completed holes exhibiting typical Theia-style gold mineralization characterized by quartz veins and sulfide alteration. He noted that mineralization remains open at depth, and the company plans to deploy additional diamond drill holes to infill the drilling grid in the deep extension area, target inferred resources, and test the up-dip northern portion of Theia Deep. Astral reported that visible gold has been observed in the deep drilling, further confirming the deposit's potential.
Alongside advancing deep drilling, the company is also conducting infill drilling at the proposed Theia open pit. Astral has received assay results from a 43-hole, 4,324-meter reverse circulation drilling program designed to tighten drill spacing to 20 meters by 20 meters in the Theia Stage 2 open pit area. The best result was hole AMRC249, which intersected 8 meters at 10.5 g/t gold from 42 meters depth, including extremely high-grade intervals of 1 meter at 58.9 g/t and 1 meter at 17.9 g/t. Other notable discoveries include AMRC273 intersecting 5 meters at 4.18 g/t from 70 meters depth, AMRC268 intersecting 13 meters at 1.98 g/t from 44 meters depth, and AMRC289 intersecting 3 meters at 5.19 g/t from 76 meters depth.
Astral stated that the mineralization characteristics to date are consistent with its Theia geological model, presenting consistent widths and favorable grade ranges within laterally continuous quartz-sulfide zones.
Astral currently has two rigs deployed at the Mandilla site. The diamond drilling program is ongoing, with nine of the expanded 11-hole plan completed; meanwhile, the reverse circulation rig is drilling the remaining portion of the Theia Stage 1 open pit to support further increases in measured resources. Of the planned 23,000-meter Stage 1 program, approximately 11,150 meters have been drilled, with most assay results yet to be released. These efforts are part of Astral's overall strategy to de-risk the Mandilla Project ahead of a final investment decision. The Mandilla Project hosts resources of 53.5 million tonnes at 1.0 g/t gold, totaling 1.74 million ounces, with Theia as the cornerstone deposit. A June 2025 pre-feasibility study outlined a standalone 2.75-million-tonne-per-annum combined Mandilla and Feysville operation, expected to produce approximately 95,000 ounces of gold annually over the first 12 years. Under a base-case gold price of A$4,250 per ounce, the pre-feasibility study yielded a net present value of A$1.4 billion (8% discount rate); at a gold price of A$6,250 per ounce, the net present value rises to A$2.9 billion. The latest drilling results provide further evidence of the Theia deposit's growth potential below the current mine plan, while shallow infill drilling continues to build confidence in the proposed open pit.
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