Kamperman Continues to Grow Ahead of Maiden Mineral Resource Estimate

Astral Resources NL (ASX: AAR) (Astral or the Company) is pleased to report assay results from a recently completed 18-hole/2,172 metre RC drilling program at the Kamperman Prospect, part of its 100%-owned Feysville Gold Project (Feysville), located approximately 14km south of Kalgoorlie in Western Australia (Figure 1).

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HIGHLIGHTS

• Assay results received from an 18-hole (2,172 metres) reverse circulation (RC) drilling program at the Kamperman Prospect (Feysville Gold Project), with best results including:
  • 28 metres at 1.99g/t Au from 68 metres including 1 metre at 12.2g/t Au from 89 metres in FRC295;
  • 17 metres at 1.60g/t Au from 32 metres in FRC301;
  • 14 metres at 1.44g/t Au from 54 metres and 14 metres at 0.68g/t Au from 31 metres in FRC304;
  • 13 metres at 1.44g/t Au from 43 metres and 10 metres at 0.90g/t Au from 16 metres in FRC306;
  • 12 metres at 1.52g/t Au from 30 metres in FRC303;
  • 29 metres at 0.97g/t Au from 25 metres in FRC293;
  • 5 metres at 2.31g/t Au from 65 metres and 4 metres at 1.67g/t Au from 19 metres in FRC299;
  • 3 metres at 2.41g/t Au from 108 metres and 14 metres at 0.82g/t Au from 36 metres in FRC294; and
  • 6 metres at 1.06g/t Au from 30 metres and 8 metres at 0.90g/t Au from 17 metres in FRC302.
• In-fill and extensional drilling supports interpretation of gold mineralisation over 450 metres of strike which remains open to the north.
• A 2,000 metre RC drill program is currently underway at the Rogan Josh Prospect to in-fill the previously identified sub-horizontal supergene enriched mineralisation.
• Preliminary work is underway to deliver an updated Mineral Resource Estimate (MRE) for the Feysville Gold Project, incorporating an updated MRE for Think Big and maiden MREs for Rogan Josh and Kamperman.
• This has the potential to establish Feysville as a valuable source of higher-grade satellite ore for the Mandilla Processing Plant contemplated in the September 2023 Scoping Study 1.

Astral Resources’ Managing Director Marc Ducler said: “The Kamperman Prospect continues to grow ahead of the delivery of a maiden Mineral Resource, which is expected to be announced in the latter half of the year. Shallow RC drilling is a cost-effective and efficient means of exploration, especially when two-thirds of our drill holes are intersecting significant gold mineralisation, as we have seen at Kamperman.

“A slimline RC rig is now on site and provides a very cost-effective method of drilling shallow holes up to approximately 70 metres depth. This style of drill rig is well suited to the in-fill program now underway at Rogan Josh, which is aiming to improve the definition of a zone of enriched supergene gold mineralisation identified in several historical holes.

“The maiden Mineral Resource Estimates for both Kamperman and Rogan Josh will feed into a broader update to the Feysville Project MRE, which is expected to be delivered in the second half of 2024.

“With relatively conservative pit design (based on AUD $2,100/oz gold price) and revenue assumptions (AUD $2,750/oz gold price) used for the Mandilla Scoping Study, the availability of additional higher-grade ore from Feysville is expected to provide significant additional financial leverage for the upcoming Mandilla Pre-Feasibility Study.

“In addition to the current Resource definition drilling, Astral is also planning to complete a regional exploration program comprising four line-kilometres of AC drilling to test an area up to two kilometres to the north of Kamperman. Interpreted cross- cutting structures and intrusive rocks considered to be potentially important pathways and sites for gold mineralisation appear to cut through a complex folded greenstone package in this area, representing a compelling large scale gold target.”

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This article includes content from Astral Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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