Strong Gold Anomalism Outlines Potential Analogue of Kamperman Prospect at Feysville

Astral Resources NL (ASX: AAR) (Astral or the Company) is pleased to provide an update on recent exploration activities at its 100%-owned Feysville Gold Project (Feysville), located 14km south of Kalgoorlie in Western Australia (Figure 1).

HIGHLIGHTS

• Two significant new zones of gold mineralisation (> 1.0 g/t Au) delineated in the first two air-core (AC) drill traverses completed at the Feysville Gold Project as part of an initial 120-hole (3,664 metres) reconnaissance program.
• The program utilised a slimline RC rig to test an interpreted zone of structural complexity, with holes achieving an average penetration depth of 31m.
• Approximately 25% of completed holes returned gold anomalism greater than 0.1g/t Au from four-metre composite sampling, which is considered very successful for first-pass reconnaissance drilling.
• The first gold anomaly is coincident with a magnetic high and is interpreted to be associated with the mineralised Ethereal Shear. Best results include:
  • 26 metres at 0.14g/t Au from 27 metres to bottom-of-hole (BOH) in FAC179;
  • 16 metres at 0.35g/t Au from 26 metres including 4 metres at 1.24g/t Au from 26 metres in FAC180;
  • 18 metres at 0.32g/t Au from 20 metres to BOH including 4 metres at 1.29g/t Au from 24 metres in FAC107; and
  • 12 metres at 0.23g/t Au from 21 metres including 3 metres at 0.68g/t Au from 29 metres to BOH in FAC109.
• The second gold anomaly appears to be associated with a previously identified prospect known as Empire Rose, where historic drilling returned results including 3 metres at 5.01g/t Au from 41 metres and 7 metres at 2.47g/t Au from 71 metres in FEC350. Best AC results from the current program include:
  • 19 metres at 0.73g/t Au from 4 metres to BOH including 4 metres at 2.46g/t Au from 12 metres in FAC141;
  • 6 metres at 0.30g/t Au from 8 metres including 1 metre at 1.02g/t Au from 13 metres to BOH in FAC142; and
  • 12 metres at 0.23g/t Au from 23 metres to BOH.
• Reverse circulation (RC) drilling is being planned to follow up both anomalies in the second half of 2024.
• A 26-hole (2,600 metre) RC drill program evaluating the Kamperman prospect is underway. Mineral Resource Estimates (MRE) for the Think Big deposit and the Rogan Josh and Kamperman prospects are scheduled for delivery this quarter.

Astral Resources’ Managing Director Marc Ducler said: “This initial reconnaissance drill program has highlighted two new zones of gold anomalism. The first anomaly represents a potential Kamperman-style analogue located approximately 150 metres north-east of the Empire Rose Prospect, coincident with a large magnetic break, and defined by a zone of thick gold anomalism. The second anomaly, a significant zone of gold anomalism has also been identified associated with intense shearing and interpreted to be the extension of the Ethereal Shear.

“Two potential gold discoveries from the first half of a four line-kilometre reconnaissance drill program is an exciting start. With over 25% of the 120 AC holes drilled intersecting significant gold anomalism (>0.1g/t Au) – well above background and 100-times above the detection limit – we are confident we have demonstrated the potential for further gold discoveries within our Feysville tenement package.

“While the Rogan Josh in-fill program didn’t return the high-grade intervals we might have hoped for, it confirmed our current interpretations of gold mineralisation, closed off parts of the potential resource, and will greatly assist with completion of the Rogan Josh MRE, which is currently underway.

“Meanwhile, the exploration team is progressing an in-fill RC program at Kamperman before our attention turns to a planned 14,000 metre RC in-fill program at the cornerstone Theia deposit at the Mandilla Gold Project. This will provide information vital for progression of advanced mining studies and MRE updates.

“Our intention at Feysville continues to be on the demonstration of its potential to deliver higher-grade satellite ore feed to a Mandilla Processing Hub as contemplated in our September 2023 Scoping Study.

“We are now more confident than ever that Think Big and Kamperman will deliver on this upside. With this new reconnaissance drilling pointing to new upside opportunities with a potential Kamperman-style analogue and possible extensions to the mineralised Ethereal Shear, we see the very real chance of delivering on our growth ambitions from the Feysville Project.”

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