Spectacular High-Grade Gold Intercept of 3 Metres at 177g/t at Kamperman

Astral Resources NL (ASX: AAR) (Astral or the Company) is pleased to report assay results for the first 20 holes for 2,580 metres of a 31-hole (3,834 metre) in-fill and extensional RC drill program at the Kamperman Prospect, part of the 100%-owned Feysville Gold Project (Feysville), located approximately 14km south of Kalgoorlie in Western Australia (Figure 1).

HIGHLIGHTS

• Assay results received for the first 20 holes (2,580 metres) of a 31-hole (3,834 metre) reverse circulation (RC) drill program at Feysville’s Kamperman Prospect, with best results including:
  
  • 12 metres at 7.26g/t Au from 23 metres including 1 metre at 16.5g/t Au from 24 metres and 1 metre at 39.7g/t Au from 27 metres and, further down-hole, 25 metres at 24.3g/t Au from 68 metres, including 1 metre at 28.0g/t Au from 69 metres and 3 metres at 177g/t Au from 74 metres in hole FRC378;
  • 12 metres at 1.96g/t Au from 20 metres and 5 metres at 1.25g/t Au from 58 metres in hole FRC377;
  • 4 metres at 2.95g/t Au from 61 metres and 11 metres at 0.96g/t Au from 91 metres in hole FRC372; and
  • 18 metres at 0.90g/t Au from 25 metres in hole FRC371.
• RC holes FRC377 and FRC378 were designed to in-fill the northern end of the Kamperman prospect while also testing for potential north-plunging mineralisation, as characterised by previous intercepts of 14 metres at 1.44g/t Au from 54 metres in hole FRC304 and 12 metres at 1.99g/t Au from 78 metres in hole FRC341.
• The results from RC holes FRC377 and FRC378 are encouraging, and diamond drilling (DD) is planned in this area to better understand the orientation of the very high-grade zone in hole FRC378.
• Step-out holes to the north and north-east intersected gold mineralisation, demonstrating that Kamperman remains open to the north.
• Further assay results from the Kamperman program are pending.
• The RC rig is currently undertaking a program of several drill holes at Mandilla to determine dewatering requirements as part of the hydrogeological work program for the Mandilla Pre- Feasibility Study (PFS).
• At the Iris Deposit, a program of ten holes for 1,365 metres of in-fill drilling has been completed with a further ten holes remaining to be drilled. At the Eos Deposit, 16 holes for 2,540 metres will be drilled shortly.
• At Mandilla, a DD rig has commenced a four-hole/1,600 metre drill program of four deep in-fill holes ahead of an update to the Theia Mineral Resources Estimate (MRE), which is expected to be reported in the March Quarter, 2025.

Astral Resources’ Managing Director Marc Ducler said: “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.

“Previously, FRC243 returned a very high-grade zone of two metres at 188g/t Au from 77 metres, 40 metres to the north-east. FRC378 has now returned another very high-grade zone of three metres at 177g/t Au from 74 metres.

“Previous diamond drilling that was completed to better understand the potential orientation of this very high-grade zone was not successful; however, given the potential size of the prize, additional work is warranted.

“The extensional drilling completed to the north and north-east has continued to intersect gold mineralisation, albeit the gold grades were of a lower tenor than expected given the quantum of quartz and sulphides logged in the RC chips. Additional RC drilling is planned given the proximity to a north- east trending fault which is potentially controlling the mineralisation or offsetting it.

“It is becoming clear that Kamperman hosts multiple potential controlling structures that warrant further investigation, as does Feysville as a whole.

“The in-fill RC program at Iris is 50% complete. The program is now on hold for approximately three weeks while groundwater testing is undertaken with the RC rig. Once the groundwater program is complete, RC drilling will resume at Iris and Eos.

“Meanwhile, diamond drilling is now underway at Theia with four deep in-fill holes for 1,600 metres planned. These holes are designed to provide the level of confidence required to warrant an upgrade of the Inferred Resources at depth into the Indicated Resource category.”

Figure 1 – Map illustrating the location of the Mandilla and Feysville Gold Projects.

FEYSVILLE GOLD PROJECT

The Feysville Gold Project is located within the north-north-west trending Norseman – Wiluna Greenstone Belt, within the Kambalda Domain of the Archean Yilgarn Craton, approximately 14km south of the KCGM Super Pit in Kalgoorlie.

Significant gold and nickel mineralisation occurs throughout the belt, including world-class deposits such as the Golden Mile Super Pit in Kalgoorlie owned by Northern Star Resources Limited (ASX: NST) and the St Ives Gold Mine south of Kambalda owned by Gold Fields Limited. The area also hosts the substantial Beta Hunt Gold Mine owned by Westgold Resources Limited (ASX: WGX).

Feysville hosts an MRE of 3Mt at 1.3g/t Au for 116koz² of contained gold at the Think Big deposit, providing a foundation for the project to potentially become a source of satellite ore feed for a future operation based on Astral’s flagship Mandilla Gold Project.

Locally, Feysville has been interpreted to contain upthrust ultramafics, emplaced within a sequence of volcanic sediments (the Black Flag sediment group), granitic intrusions, mafic basalts, gabbro and andesite. A map of the Feysville Gold Project identifying tenements and deposits/prospects on local area geology is set out in Figure 2.

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