astralresourcesblog

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The Significance of Iris Gold Deposits - Astral Resources

The Iris Gold Deposit represents a highly promising gold resource, currently holding a Mineral Resource Estimate (MRE) of 4.4 million tonnes (Mt) at a grade of 0.8 grams per tonne (g/t) gold (Au), translating to approximately 115,000 ounces (koz) of contained gold. Despite this substantial resource, 90% of the deposit remains classified within the Inferred category, indicating significant potential for further delineation and resource confidence upgrades.

To enhance the certainty of the resource estimate, an in-fill drilling program was conducted, targeting the central section of the Iris Deposit. The goal was to upgrade this portion from the Inferred category to the more robust Indicated category. Encouragingly, assay results have confirmed that the in-fill drilling campaign has been highly successful, yielding numerous drill intersections with gold grades surpassing the MRE benchmark of 0.8 g/t Au.

Astral Resources, the company spearheading the development of the Iris Deposit, has responded to these promising results by expanding its drilling strategy. As a result, an extended drill program is planned for 2025 to cover the remainder of the Iris Deposit. This continued exploration and resource refinement will play a crucial role in unlocking the full economic potential of the deposit.

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Mandilla Gold Project – A Key Development Opportunity

The Mandilla Gold Project, located in the highly prospective northern Widgiemooltha greenstone belt, presents a compelling development opportunity within one of Australia's most renowned gold-producing regions. Situated 70 kilometers south of Kalgoorlie, the project is strategically positioned near some of the most significant gold deposits in the country, including the Golden Mile Super Pit in Kalgoorlie, operated by Northern Star Resources Limited (ASX: NST), the St Ives Gold Mine near Kambalda, owned by Gold Fields Limited, and the Beta Hunt Gold Mine, operated by Westgold Resources Limited (ASX: WGX). This positioning underscores Mandilla's potential within a prolific gold district.

Mandilla’s Promising Resource Base

The Mandilla Gold Project consists of four main deposits: Theia, Iris, Eos, and Hestia. Collectively, these deposits host an impressive Mineral Resource of 37 million tonnes at 1.1 g/t Au, equating to 1.27 million ounces (moz) of gold. This robust resource base positions Mandilla as a highly attractive gold development asset, with significant upside potential as exploration continues across the project area.

A key factor in Mandilla’s favor is the success of the Iris Deposit. The high-grade gold potential demonstrated at Iris has further strengthened the project's case for development, highlighting Mandilla's ability to contribute meaningfully to the region's gold output. With further exploration and resource definition, the project could continue to grow and further solidify its place as a key player in the industry.

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Managing Director’s Vision: Aligning With Company’s Strategic Goals

Astral’s Managing Director, Marc Ducler, underscores the promising potential embedded within the Company’s projects, particularly at the Kamperman site. He shared, “These latest holes at Kamperman continue to surprise to the upside – showing that there is a potentially very significant high-grade opportunity here that we are yet to unlock.” This statement highlights the optimism surrounding Astral's growth prospects and the considerable untapped value the project may offer.

The leadership team is dedicated to advancing key projects such as Mandilla and Feysville, with a clear focus on bringing these projects toward production. Marc Ducler and the team are ensuring that critical milestones are met within the stipulated timeframes and budgetary constraints, positioning the Company for success.

With over 20 years of experience in the mining industry, Mr. Ducler brings a wealth of expertise to Astral. His extensive background includes 17 years of senior operational management roles at prestigious companies like GoldFields, BHP, Fortescue Metals, MRL, and Roy Hill. Before his current role, he served as the Managing Director of Egan Street Resources, a gold exploration and development company. Under his leadership, Egan Street achieved a successful takeover by Silver Lake Resources (ASX: SLR), further demonstrating Mr. Ducler’s strategic vision and leadership capabilities.

Mr. Ducler’s leadership ensures that Astral’s strategic goals remain firmly aligned with the Company’s growth objectives, driving forward momentum across key projects. As the team works diligently to unlock further value at Kamperman and bring the Mandilla and Feysville projects closer to production, Astral is poised for continued success in the mining sector.

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Astral Resources Reports Promising Gold Results at Mandilla’s Iris Deposit

Astral Resources (ASX: AAR) has announced strong gold intercepts at its Iris Deposit, further solidifying the deposit’s potential role in the forthcoming Pre-Feasibility Study (PFS) for the Mandilla Project. Located near Kalgoorlie, Western Australia, the 100%-owned Mandilla Project continues to demonstrate its viability as a significant gold resource.

As of December 17, 2024, Astral Resources’ shares are trading at $0.145, giving the company a market capitalization of $180.35 million. Over the last 52 weeks, the stock has ranged from $0.051 to $0.170, reflecting investor interest in the company’s promising exploration and development efforts. Astral currently has 1.2 billion shares outstanding.

For additional details on Astral Resources and its projects, visit the official website.