Asra Minerals sharpens Leonora North gold focus, to drill priority targets

• Asra’s review of Leonora North provides clear focus for future work
• The company is planning its next drill campaign which will home in on priority targets 
• Sample results from Leonora South expected in October 

Special Report: A review at Leonora North in WA’s Eastern Goldfields has sharpened Asra’s focus on the gold asset, underscoring prospective ground along strike and at unexplored targets. 

The review narrowed in on the Mt Stirling resource, confirming its role as the foundation of the Leonora North project with potential for extensions into largely untested ground. 

Importantly, the structural setting at Mt Stirling suggests the opportunity for parallel and subsidiary lodes and with $3.25m in the bank following a recent capital raising, Asra Minerals (ASX:ASR) is ready to drill deeper into these targets.  

Further studies are ongoing to refine and optimise the next drill campaign as the review starts to piece together a pipeline of growth opportunities. 

Hydra and Tyrannus 

The Hydra prospect, northwest of the 137,000oz gold resource at Mt Stirling, is one key area for future exploration. 

Between Hydra and Mt Stirling lies an interpreted connecting fault with limited modern drilling, presenting Asra with a 1km untested exploration zone.

This area will be closely investigated for mineralised zones while additional soil samples are collected along the faults of Mt Stirling. 

These will be analysed for gold to provide a geochemical interpretation of the prospective area. 

Meanwhile, the Tyrannus prospect is interpreted to lie on a parallel fault to the Mt Stirling resource, about 500m to the northeast.

Drilling has confirmed shallow gold across multiple zones, in both saprolite and fresh rock, backing the geological model and hinting at a second mineralised system near Mt Stirling.

Stirling well resource 

The Stirling Well deposit provides a supplementary inferred resource of 198,000t at 2.3g/t, or 15,00oz of contained gold, but which has historically received less exploration than the main Mt Stirling resource. 

A recent review of analogous deposits has highlighted a hypothetical for additional mineralisation below the current defined envelope where most of these zones remain untested by drilling. 

The company will continue to assess the ongoing review before planning any further drilling

“New exciting exploration phase” 

ASR managing director Paul Stephen said the company was strongly positioned to drive an exciting new phase of exploration at Mt Stirling. 

“A comprehensive review of the Leonora North Project has sharpened our focus, highlighting significant potential along strike, as well as untested targets with prior indications of mineralisation,” he said. 

“This revitalised strategy represents the beginning of a dedicated campaign to unlock further value across our prospective ground and positions the company to deliver growth through targeted exploration success.”

At the same time, Asra has moved quickly to advance exploration at Leonora South, with all significant one-metre split samples have been dispatched to the laboratory in Kalgoorlie for gold analysis. 

Results are expected back in October and will be shared with the market as soon as they are received.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.