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Astral Resources NL (ASX: AAR) (Astral or the Company) is pleased to report assay results from a recently completed 26-hole/2,808 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).
HIGHLIGHTS
- 26-hole/2,808 metre reverse circulation (RC) infill and extensional drilling program completed at the Kamperman Prospect (Feysville Gold Project) with excellent results from the first 23 holes including:
- 38 metres at 2.12g/t Au from 42 metres in FRC358;
- 34 metres at 2.24g/t Au from 33 metres in FRC353;
- 19 metres at 3.32g/t Au from 32 metres including 1 metre at 32.78g/t Au from 48 metres in FRC355;
- 18 metres at 1.51g/t Au from 28 metres in FRC343;
- 19 metres at 1.35g/t Au from 25 metres in FRC345;
- 8 metres at 2.40g/t Au from 20 metres in FRC344;
- 11 metres at 1.38g/t Au from 17 metres and 12 metres at 1.99g/t Au from 78 metres in FRC341;
- 3 metres at 5.45g/t Au from 64 metres including 1 metre at 15.15g/t Au from 65 metres in FRC359;
- 13 metres at 1.13g/t Au from 39 metres in FRC336;
- 8 metres at 1.64g/t Au from 35 metres in FRC351;
- 14 metres at 1.16g/t Au from 118 metres in FRC356;
- 11 metres at 1.24g/t Au from 39 metres in FRC348; and
- 4 metres at 3.09 g/t Au from 67 metres in FRC335;
- In-fill results support the interpretation of a high-grade west-dipping zone of gold mineralisation extending from north to south over 450 metres of strike.
- Extensional drilling shows that the mineralisation at Kamperman remains open both to the north and east.
- The results will underpin a maiden Mineral Resource Estimate (MRE) for Kamperman, due in the September Quarter, as part of an updated MRE for the Feysville Gold Project.
- Kamperman represents a potential valuable source of high-grade satellite feed for the Mandilla Process Plant contemplated in the September 2023 Scoping Study 1.
Astral Resources’ Managing Director Marc Ducler said: “This 26-hole drill program is arguably the most successful program completed to date at Kamperman.
“These latest results confirm our geological interpretations with, pleasingly, a broad 30- metre-wide zone of consistent +2g/t gold mineralisation defined across multiple sections in the southern zone at Kamperman.
“Mineral Resource estimate work is now underway at Kamperman following receipt of these latest results, while the Rogan Josh and Think Big estimations are currently being finalised.
“The focus is now turning to the Theia Deposit at the Mandilla Gold Project, with the first phase (6,000 metres) of in-fill RC drilling expected to get underway next week.
“Following the completion of the Phase 1 program, Astral will return to Feysville following up the significant gold anomalies that were announced earlier this month in an area to the north-west of Kamperman.”
This announcement reports assay results for 23 holes of the 26-hole program. Assay results for the remaining three holes are pending.
Figure 1 – Map illustrating location of 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 Karora Resources Inc. (TSX: KRR).
Feysville hosts an MRE of 3Mt at 1.3g/t Au for 116koz of contained gold2 at the Think Big deposit, providing a foundation for the project to potentially become a source of satellite ore feed to 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.
Click here for the full ASX Release
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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Astral Resources
Overview
Astral Resources (ASX:AAR) is a gold mineral exploration company with three gold projects in tier 1 mining jurisdictions of Western Australia. The three assets are the Mandilla gold project, the Feysville gold project, and the Carnilya Hill gold project. The flagship and 100 percent owned Mandilla gold project has a mineral resource containing 1.27 million ounces (Moz) of contained gold. The other key project, 100 percent owned Feysville, hosts an updated mineral resource estimate of 5.0Mt at 1.2g/t gold for 196koz of contained gold . Feysville could potentially become a satellite source of high-grade ore feed for the flagship Mandilla gold project.
The scoping study completed at Mandilla unveils robust project economics. The cornerstone of the scoping study is the Theia deposit, which alone 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 Resources intends to increase production further. The assay results from the six-hole 1,832-metre drilling program completed at Theia deposit last year indicate a high potential for converting inferred resources to higher confidence indicated resources. Feysville presents another exciting opportunity, which is evident from the recent assay results at the Kamperman prospect. In 2023, Astral drilled 10 holes at Kamperman intersecting high-grade gold, including 4 metres at 94.8 g/t gold, 21 metres at 4.16 g/t gold, 35 metres at 2.19 g/t gold, 10 metres at 4.57 g/t gold, and 5 metres at 5.89 g/t gold.
The presence in Western Australia, a tier 1 mining jurisdiction, is encouraging and should comfort investors. Western Australia has world-class infrastructure and a skilled workforce. The Fraser Institute ranked it fourth globally and first in Australia as the most attractive jurisdiction for mining investment in 2023.
Astral benefits from a team of professionals boasting extensive expertise in geology and mining. The company is led by managing director Marc Ducler, who has more than two decades of experience in the mining industry. The management team has a proven track record of executing several successful exploration and development projects, as well as M&A.
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.
- Updated JORC 2012 mineral resource estimate (MRE) at the Feysville gold project is 5.0Mt at 1.2g/t gold for 196koz of contained gold.
- Including the Mandilla MRE of 37Mt at 1.1g/t gold for 1.27Moz of contained gold, Astral’s total gold MRE is now calculated to be 42Mt at 1.1g/t gold for 1.46Moz of contained gold (Group MRE).
- The company is led by an experienced team with a proven track record of advancing projects to development and M&A.
Key Projects
Mandilla Gold Project
The Mandilla gold project is located within the northern region of the Widgiemooltha greenstone belt, approximately 70 kilometers to the south of the prominent mining hub of Kalgoorlie, Western Australia. Mandilla includes four deposits namely, Theia, Iris, Eos and Hestia. The cornerstone of the project is the Theia deposit, constituting 81 percent of Mandilla's resources, totaling 29 Mt at a grade of 1.1 g/t gold, amounting to 1.02 Moz of contained gold in a single open pit. We note that Mandilla has a total mineral resource estimate of 37 Mt at 1.1 g/t gold for 1.27 Moz.
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. Astral estimates the pre-production capital spend at AU$191 million, and the project is anticipated to generate a free cash flow of AU$740 million (assuming a gold price of A$2,750/oz). The project’s NPV @8 percent is estimated at AU$442 million, and the IRR at 73 percent.
Drill collars at Theia deposit
Astral continues to advance exploration and resource expansion efforts at Mandilla. 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.
Astral is planning to commence a pre-feasibility study at Mandilla.
Feysville Gold Project
The Feysville project is situated in Australia's premier gold belt, merely 14 km south of the Golden Mile deposit, which boasts 70 million ounces, located in Kalgoorlie. The project's updated JORC 2012 mineral resource estimate (MRE) indicates 5.0Mt at 1.2g/t gold for 196koz of contained gold. Including the Mandilla MRE of 37Mt at 1.1g/t gold for 1.27Moz of contained gold, Astral’s total gold MRE is now calculated to be 42Mt at 1.1g/t gold for 1.46Moz of contained gold (Group MRE).
At Feysville, Astral is focusing on the high-grade Kamperman prospect. A recent 19-hole 2,459 reverse circulation (RC) drilling program at Kamperman returned encouraging assay results. The latest drilling program yielded significant assay results in 14 out of 19 RC holes. This high success rate continues to indicate that Kamperman has the potential to be a substantial source of high-grade satellite ore for the Mandilla processing plant. A further 2,500-metre follow-up RC program is planned to extend known mineralization at Kamperman beyond the current 350-metre strike length.
Carnilya Gold Project
The Carnilya Hill gold project is situated about 20 kilometers south-southeast of the company's Feysville project and approximately 40 kilometers southeast of Kalgoorlie, Western Australia. The project encompasses various tenements – M26/047-049, M26/453 – spanning approximately 2.65 sq. km. Astral holds rights for gold mining, while Mincor Resources NL (ASX:MCR) holds rights to nickel and other minerals.Management Team
Mark Connelly – Non-executive Chairman
Mark Connelly is a mining industry veteran who has held positions of CEO and managing director with several multinational companies across many jurisdictions, including Australia, North America, South America, Africa and Europe. He has a proven track record in deal making and was principally responsible for the merger of Papillon Resources and B2 Gold Corp in October 2014 (value US$570 million), as well as the key person responsible for the merger of Adamus Resources and Endeavour Mining for US$579 million. He is currently the non-executive chair of Calidus Resources, Omnia Metals Group, Alto Metals, Warriedar Resources and Nickel Search.
Marc Ducler – Managing Director
Marc Ducler has more than 20 years of experience in the mining industry. He has held senior operational management roles with GoldFields, BHP, Fortescue Metals, MRL and Roy Hill. He was also the managing director of Egan Street Resources (a gold exploration and development company) until it was acquired by Silver Lake Resources (ASX:SLR).
Peter Stern – Non-executive Director
Peter Stern has experience in corporate advisory, specializing in M&A and capital raising. He has spent six years with Macquarie Bank and three years with UBS and Deutsche Bank. He is a graduate of Monash University with a Bachelor of Science (geology major). Stern is a fellow of the Australian Institute of Company Directors and the chairman of Troy Resources.
David Varcoe – Non-executive Director
David Varcoe is a mining engineer with over three decades of experience. He has extensive operational and managerial experience across various commodities, including gold, iron ore, copper, diamonds, coal, uranium and rare earths. His expertise spans board positions, operations management, project management and consulting. Varcoe is a principal consultant with the leading Australian firm AMC Consulting.
Justin Osborne – Non-executive Director
Justin Osborne is a geologist with over 30 years of experience in exploration. He was previously the executive director at Gold Road Resources (ASX:GOR), where he played a crucial role in developing the world-class Gruyere gold deposit (6.6 Moz gold). Osborne also held senior positions on the exploration executive team at Gold Fields. He was instrumental in developing the Damang Superpit project in Ghana and achieved significant discovery success at the St Ives gold mine.
Brendon Morton – Chief Financial Officer & Company Secretary
Brendon Morton has over 20 years of experience, particularly in the global resources sector across Australia, Africa and Asia. He has held several executive financial and company secretarial roles with ASX-listed and unlisted companies in the resources industry.
Jed Whitford – General Manager Business Development and Projects
Jed Whitford is a mining engineer with over 20 years of industry experience. His expertise primarily encompasses gold and base metals operations, having worked with companies such as Western Mining, Gold Fields, Golder Associates, Xstrata and Glencore.
Julie Reid – Geology Manager
Julie Reid has 36 years of experience working across Australia, Vietnam and Indonesia, covering a variety of commodities in diverse geological terrains. She holds a Bachelor of Applied Science from Curtin University of Technology.
Radisson Mining Resources: Advancing High-grade Gold Exploration in Quebec
Radisson Mining Resources (TSXV:RDS,OTCQB:RMRDF) is a gold exploration company unlocking the value of its 100 percent owned O’Brien gold project. Located in the Abitibi Greenstone Belt along the prolific Larder-Lake-Cadillac Break in Quebec, Canada, the O’Brien gold project hosts the highest-grade, past-producing mine along the Cadillac Break. Radisson Mining Resources leverages its extensive drilling campaigns, high-grade historical production, and experienced management team to create value for shareholders and stakeholders.
With world-class assets, robust exploration programs, and experienced leadership, Radisson is well-positioned to deliver value to its shareholders.
The O’Brien gold project is in the Abitibi region of northwestern Quebec, along the Larder-Lake-Cadillac Break, and encompasses the historic O’Brien mine, which produced 587,121 ounces of gold at an average grade of 15.25 grams per ton (g/t) between 1926 and 1957. The company has planned a 22,000-metre drilling program to expand known mineralization below existing resources.
Company Highlights
- Flagship O’Brien Gold Project: Hosts the highest-grade, past-producing mine along the Cadillac Break, with significant resource expansion potential.
- Located in tier-one mining district amongst numerous world-class producers
- Experienced Leadership: A seasoned management team and board with a proven track record in mining exploration and development.
- Commitment to Sustainability: Prioritizes environmental stewardship and community engagement in all exploration activities.
This Radisson Mining Resources profile is part of a paid investor education campaign.*
Click here to connect with Radisson Mining Resources (TSXV:RDS) to receive an Investor Presentation
Quimbaya Gold: Unlocking High-grade Gold Potential in Antioquia, Colombia’s Premier Mining District
Quimbaya Gold (CSE:QIM)) is a junior gold exploration company exploring high-grade gold projects in Colombia. Quimbaya Gold's portfolio spans 59,057 hectares in highly prospective regions in the Antioquia mining district, the region responsible for about 50 percent of Colombia’s total gold production or around one million ounces (Moz) annually.
Located next to Aris Mining’s (TSX:ARIS) Segovia mine, Quimbaya leverages its proximity to established infrastructure and gold-rich geological formations. With Colombia being one of the most underexplored yet top mining jurisdictions in South America, Quimbaya’s projects are uniquely poised for significant discoveries.
Quimbaya's flagship Tahami project spans 17,087 hectares featuring mesothermal veins with multiple mineralization events underlain by Precambrian metamorphic rocks consolidated within the San Lucas Gneiss unit.
Company Highlights
- Quimbaya Gold controls 59,057 hectares across three distinct projects in Antioquia, Colombia — renowned as the country's top mining department, accounting for over half of Colombia’s gold production.
- The flagship Tahami project is adjacent and on trend to Aris Mining’s Segovia mine, one of the highest-grade gold mines globally. Tahami benefits from its strategic proximity to Segovia and its potential for discovery of high-grade vein gold systems.
- Tight share structure (60 percent insider/family offices/institutions ownership) with a market cap of approximately C$11.45 million, ensuring alignment with shareholder interests.
- Quimbaya has entered into a partnership with Independence Drilling, Colombia’s largest drilling company, which secures an extremely cost-effective 100,000 meters of drilling over five years.
- Quimbaya utilizes software that allows for rapid and cost-effective acquisition of mining claims, giving the company a competitive edge in securing high-value assets.
- The technical team’s proven track record of major discoveries in Colombia positions Quimbaya as a standout explorer in the region.
This Quimbaya Gold profile is part of a paid investor education campaign.*
Click here to connect with Quimbaya Gold (CSE:QIM) to receive an Investor Presentation
Radisson Mining Resources
Investor Insight
A compelling investment opportunity, Radisson Mining is leveraging its significantly high-grade gold asset in the prolific Abitibi Greenstone Belt and a strategic exploration and development plan to aggressively advance its flagship O’Brien gold project.
Overview
Radisson Mining Resources (TSXV:RDS,OTCQB:RMRDF) is a gold exploration company focused on unlocking the value of its 100 percent owned O’Brien gold project, strategically located in the Abitibi Greenstone Belt along the prolific Larder-Lake-Cadillac Break in Quebec, Canada. The company leverages its extensive drilling campaigns, high-grade historical production, and experienced management team to create value for shareholders and stakeholders.
Company Highlights
- Flagship O’Brien Gold Project: Hosts the highest-grade, past-producing mine along the Cadillac Break, with significant resource expansion potential.
- Located in tier-one mining district amongst numerous world-class producers
- Experienced Leadership: A seasoned management team and board with a proven track record in mining exploration and development.
- Commitment to Sustainability: Prioritizes environmental stewardship and community engagement in all exploration activities.
Key Project
O’Brien Gold Project: A High-Grade Opportunity in the Abitibi Region
The O’Brien gold project is Radisson's flagship asset, located in the Abitibi region of northwestern Quebec, along the Larder-Lake-Cadillac Break. The project encompasses the historic O’Brien mine, which produced 587,121 ounces of gold at an average grade of 15.25 grams per ton (g/t) between 1926 and 1957.
Project Highlights
- Location: Situated between the towns of Rouyn-Noranda and Val-d’Or, with excellent infrastructure and access via Trans-Canadian Highway 117
- Recent drilling: 2024 drilling highlighted significant potential for resource expansion at depth with the deepest hole ever drilled at the project returning an intercept of 242 g/t gold over 1 metre within a mineralized interval that averaged 31.24 g/t gold over 8 metres, in addition to the possible re-discovery of the famous “Jewellery Box” zone with an intercept of 1,345 g/t gold over 1 metre
- MOU with IAMGOLD: Memorandum of understanding signed with IAMGOLD to assess the design criteria for processing mined material from O’Brien at the nearby Doyon gold mill. The mill is part of IAMGOLD’s Doyon-Westwood mine complex located just 21 kilometres west of O’Brien directly accessible along Trans-Canada Highway 117.
- Resource Estimate: As of March 2, 2023, the project boasts indicated resources of 1,517,000 tons grading 10.26 g/t gold (501,000 ounces) and inferred resources of 1,601,000 tons grading 8.66 g/t gold (446,000 ounces) at a 4.5 g/t gold cut-off.
- Infrastructure: Proximity to five potential custom milling facilities within 75 km enhances project economics.
2025 Outlook and Exploration & Development Plans
Radisson Mining Resources has released its 2025 outlook and detailed exploration and development plans for the O’Brien gold project in Québec.
Key Highlights:
- Exploration Drilling: A 22,000-metre drilling program is planned to expand known mineralization below existing resources. This follows significant 2024 results, including 242 g/t gold over 1 metre at 1,500 metres depth.
- Surface Exploration: Initiatives include surface stripping and trenching to delineate the extension of the historic "Jewellery Box" zone, recently rediscovered by Radisson drilling.
- Development Studies: Completion of metallurgical studies and milling assessments under an MOU with IAMGOLD is anticipated, focusing on processing at the nearby Doyon mill. A preliminary economic assessment( PEA) is planned upon successful completion of these studies.
- Environmental and Community Engagement: Increased focus on baseline environmental studies and community engagement is planned as the project advances toward potential development.
- The 2025 exploration budget is approximately C$6.8 million, fully funded from Radisson's existing treasury.
Leadership and Expertise
Radisson Mining Resources is led by a team of experienced professionals with extensive backgrounds in mining exploration, development, and operations.
Management Team
Matt Manson -President, Chief Executive Officer, and Director
Matt Manson has over 30 years of international mining experience, including leadership roles in developing the Valentine gold project and the Renard Diamond mine.
Hubert Parent-Bouchard - Chief Financial Officer
Hubert Parent-Bouchard joined Radisson in 2014, bringing expertise in corporate finance and strategic planning.
Kristina Pillon - Manager of Investor Relations
Kristina Pillon brings 15 years of experience in capital markets focused primarily in the resource sector.
Dave Ross - Vice President, Exploration
Dave Ross is a professional geologist with 25 years of experience in mineral resource estimation and the exploration of structurally hosted gold deposits.
Board of Directors
Pierre Beaudoin - Chairman of the Board & ESG Committee Member
Pierre Beaudoin is a seasoned mining executive with over 30 years of international experience in operations, project development and mineral processing.
Peter MacPhail - Director
Peter MacPhail has over 35 years of operational mining experience in Canada, Mexico and Australia, including leadership roles at Alamos Gold.
Michael Gentile - Director, Strategic Advisor & Audit Committee Member
Michael Gentile is a former professional money manager with extensive experience in the mining and natural resource sectors.
Jeff Swinoga - Director & Audit Committee Chair
Jeff Swinoga is a highly accomplished mining executive with over 25 years of mining industry experience in the areas of capital markets, project advancement, development and project construction.
Cindy Valence - Director & ESG Committee Chair
Cindy Valence, MBA, is an experienced manager with over 20 years of experience, having held senior management level positions, including as executive vice-president and chief sustainability officer at Sayona Mining.
Lise Chénard - Director, ESG Committee Member & Audit Committee Member
Lise Chénard is a professional engineer with over 40 years of experience in mining geology (gold, copper, zinc) in Quebec and internationally. Her expertise extends to mining operations, management and technical supervision, resource and reserve audits, and technical studies of mining projects.
Sustainability and Community Engagement
Radisson Mining Resources is committed to responsible exploration and sustainable development. The company actively engages with local communities and stakeholders to ensure its projects deliver long-term value while minimizing environmental impact.
Advancing Towards Value Creation
With a clear vision to expand its high-grade gold resources and unlock exploration upside, Radisson Mining Resources is well-positioned to deliver value to its shareholders. The combination of world-class assets, robust exploration programs, and experienced leadership underscores Radisson's commitment to becoming a leading gold exploration company in Quebec.
For more information, visitwww.radissonmining.com.
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