Astral Resources (ASX: AAR) has announced significant high-grade gold intercepts from its Spargoville project, with mineralisation interpreted as open at depth, complementing ongoing development drilling at its Mandilla project.
Astral reported assay results from 39 reverse-circulation (RC) infill and extensional drill holes totalling 4,234m at Spargoville's Wattle Dam Complex, supporting programs across the Redback, Huntsman, and Trapdoor prospects.
Key intersections included 13m at 7.10g/t Au from 87m, notably containing 2m at 34.6g/t Au, as well as 5m at 9.35g/t Au from 38m, including 3m at 13.8g/t Au.
Company interpretation suggests that the high-grade mineralisation is linked to the eastern contact of an interpreted porphyry and is steeper than previously understood.
Importantly, the deepest drill tests indicate that the mineralisation remains open at depth, with the extent of mineralisation at Huntsman potentially increasing by as much as 150m from the current resource.
Mandilla Drilling Continues
Development activities at the Mandilla project are progressing, with 110 holes of sterilisation RC drilling completed, totalling 16,760m.
This program is expected to continue into the June 2026 quarter, pending heritage clearance.
Further in-fill RC drilling is also underway for the Theia open pits, aiming to reduce spacing to 20m x 20m for Stage Two and 12.5m x 12.5m for Stage One, targeting a Measured Resource category.
A diamond drilling program has commenced at Theia, comprising six holes for approximately 3,000m, to test depth extensions below the current Stage Five open pit design.
Project Context & Resources
The current Mineral Resource Estimate (MRE) for the Wattle Dam Complex stands at 2.1 Mt at 1.3 g/t Au for 91 koz of contained gold.
The total Spargoville MRE, as of May 2025, was 3 Mt at 1.4 g/t Au for 139 koz.
Astral Resources has a track record of exploration success across its portfolio.
Previous drilling results include high-grade intercepts at Kamperman in January 2026, with 14m at 6.79 g/t Au and 13m at 6.60 g/t Au.
Drilling at Theia in December 2025 also showed strong results, with intervals such as 21m at 7.13 g/t Au and 33m at 2.21 g/t Au.
Recent Funding & Development Milestones
In December 2025, Astral Resources completed a successful placement, raising approximately A$65 million.
These funds are earmarked to accelerate the Mandilla project's Definitive Feasibility Study (DFS) and to fund early works and long-lead items.
The Mandilla DFS remains on track for completion in the June 2026 quarter.
Adding to recent regulatory successes, a mining licence for the Feysville areas was granted in January 2026, facilitating progression towards a Mining Proposal and a Joint Venture with Mineral Mining Services for the Think Big Gold Mine.
