- 01Spargoville gold resource rises 102% to 281,000oz.
- 02Higher A$4,500/oz gold-price assumption drove expansion.
- 03Astral's combined gold inventory reaches 2.21Moz.
Astral Resources (ASX: AAR) has delivered a 102% increase in contained gold at its Spargoville gold project in Western Australia following a comprehensive geological reinterpretation and resource re-estimation of key deposits.
The updated mineral resource estimate stands at 8.5 million tonnes grading 1.0 grams per tonne gold for 281,000 ounces, compared with the previous estimate of 139,000oz.
The increase follows a review of the Spiders, Eagles Nest, 8500N, and 5B deposits using updated economic assumptions aligned with the company's adjoining Mandilla gold project.
Combined with existing resources at Mandilla and Feysville, Astral's consolidated gold inventory has now reached 2.21 million ounces, ahead of renewed exploration drilling at Spargoville.
Key Deposit Resource Growth
The revised estimate incorporates 5.1Mt of Indicated Resources grading 1.1g/t for 186,000oz, representing a 130% increase in contained gold within that classification.
A further 3.4Mt grading 0.9g/t for 95,000oz sits in the Inferred category, with no material currently classified as Measured.
Spiders remains the largest resource at Spargoville, containing 177,000oz within 5.5Mt grading 1.0g/t, while Eagles Nest contributes 30,000oz and 8500N another 26,000oz.
The Spiders estimate incorporates the Golden Orb, Huntsman, Redback, Trapdoor, and S5 deposits, which were combined in the updated geological interpretation.
Resources at Wattle Dam Stockwork, Hilditch, and Larkinville remain unchanged from the May 2025 estimate, with the revised figures prepared by independent consultant Cube Consulting.
Updated Economic Parameters
The updated deposits were assessed using a lower cut-off grade of 0.40g/t and constrained within optimised pit shells based on a gold price of A$4,500/oz.
Astral applied mining and processing cost assumptions consistent with those underpinning optimisation work for the upcoming Mandilla definitive feasibility study.
The higher assumed gold price, compared with A$3,500/oz previously, was the principal driver of the expanded resource envelopes, rather than drilling alone.
The modelling incorporates an assumed processing recovery of 96%, although historical metallurgical test work returned varying recoveries and further testing is recommended.
The resource estimates comply with the 2012 JORC Code, but remain distinct from economically demonstrated Ore Reserves.
Fresh Drilling Targets
Astral acquired Spargoville through its purchase of Maximus Resources last year, with approximately 16,000 metres of additional reverse circulation drilling completed since that transaction.
The project lies approximately 70 kilometres south of Kalgoorlie and directly adjoins Mandilla, where Astral holds a separate 1.74Moz resource.
Managing director Marc Ducler considers the revised estimates an important foundation for renewed exploration across the Spargoville deposits.
“Part of the motivation for completing this re-optimisation was to help us refine upcoming drilling programs to target further growth,” Mr Ducler said.
“Only a modest 16,000 metres of drilling has been completed at Spargoville since acquiring Maximus Resources, and we are very excited to be back drilling at the Spiders deposit in the current December quarter.”
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