Astral Resources increases indicated resource at Mandilla gold project by 49%
Astral Resources (ASX: AAR) has reported a 49% increase in the indicated resource numbers at its Mandilla gold project near Kalgoorlie in Western Australia.
The company released an updated JORC-compliant mineral resource estimate (MRE) of 42 million tonnes at 1.1 grams per tonne gold for 1.43 million ounces of contained gold.
The updated MRE provides a total 13% increase in contained metal compared with the previous estimate of 37Mt at 1.1g/t for 1.27Moz of contained gold the company announced in July 2023.
De-risking Mandilla
“Since completing the July 2023 MRE [and] the September 2023 scoping study, the key strategic focus of Astral has been de-risking the company’s flagship Mandilla gold project,” managing director Marc Ducler said.
“A key task was upgrading inferred mineral resources at Mandilla to the higher-confidence indicated category, requiring considerable in-fill drilling at the Theia deposit.”
“Our strategy has been highly successful, with this updated 2025 MRE recording an increase in the Mandilla indicated mineral resource of 49% to 1.03Moz.”
“These ounces will form the backbone of our ongoing PFS, with additional contribution from the Kamperman and Think Big deposits at Feysville.”
Constrained pit shells
The Mandilla MRE used a lower cut-off of 0.39g/t gold constrained within pit shells derived using a gold price of $3,500/oz, delivering the increase in the MRE at a discovery cost of $26/oz.
Astral is continuing to progress the Mandilla PFS, with both operating and capital expenditure cost models for the process and non-process infrastructure received and under review.
Mr Ducler said Astral had recently received mining costs from request-for-quotation submissions.
New drill program
The company has now commenced a reverse circulation drill program consisting of 46 holes for 5,740 metres at Feysville.
The program includes an in-fill and extensional program to the north of the Kamperman deposit and a regional drilling program to follow up significant gold intercepts.
Astral will also incorporate those from the regional aircore program completed in the June quarter 2024.