Astral Resources: Gold Exploration with Highly Prospective Assets in Western Australia

Astral Resources (ASX:AAR) is a gold mineral exploration company focusing on three assets are the Mandilla gold project, the Feysville gold project, and the Carnilya Hill gold project. Astral is advancing its flagship Mandilla gold project, with a mineral resource estimate of 37 Mt at 1.1 g/t gold for 1.27 Moz. The 100 percent owned Feysville is another key project that hosts a mineral resource estimate of 3 million tons (Mt) at 1.3 grams per ton (g/t) gold for 116,000 ounces (oz) of contained gold.

The scoping study completed at Mandilla highlighted the Theia deposit, which accounts for 81 percent of the total Mandilla mineral resource estimate. The deposit hosts a mineral resource estimate of 29 Mt at 1.1 g/t gold for 1.02 Moz of contained gold in one large open pit. The scoping study indicates a mine life of 11 years with an annual production of 100,000 oz in the first seven and a half years, dropping to 41,000 oz for the remaining three and a half years. The study outlines compelling financial metrics, including NPV@8 percent of AU$442 million, free cash flow of AU$740 million, and a payback period of nine months.

Astral continues to advance exploration and resource expansion efforts at Mandilla with plans to commence a pre-feasibility study. The company completed a six-hole 1,832 metre drilling program at Theia deposit last year. The assay results have been released and indicate a high potential for the conversion of inferred resources to higher confidence indicated resources. The assay results include: 39 metres at 5.4 g/t gold, 29 metres at 2.8 g/t gold, 28 metres at 1.4 g/t gold, 8 metres at 8.8 g/t gold.

Company Highlights

• Astral Resources is an ASX-listed gold exploration company in the Kalgoorlie region of Western Australia, a tier 1 jurisdiction and a mature mining region with successful development history and granted mining leases.
• The company has three assets - the Mandilla gold project, the Feysville gold project, and the Carnilya Hill gold exploration project.
• The focus is on advancing its flagship Mandilla gold project, with a mineral resource estimate of 37 Mt at 1.1 g/t gold for 1.27 Moz.
• The scoping study at Mandilla highlights the project’s robust economics with a mine life of 11 years, NPV@8 percent of AU$442 million, and free cash flow of AU$740 million.
• Mandilla’s cornerstone Theia deposit, which comprises 81 percent of the project’s resources, contains 29 Mt at 1.1 g/t gold, with 1.02 Moz of contained gold in one large open pit.
• Feysville project hosts a mineral resource estimate of 3 Mt at 1.3g/t gold for 116 koz of contained gold. The project could potentially become a source of satellite ore feed to Astral’s flagship Mandilla gold project.
• The company is led by an experienced team with a proven track record of advancing projects to development and M&A.

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