• Astral Resources produces an average 98.2% recovery from its million-ounce Theia deposit
  • Results consistent with previous demonstrations of high recoveries and low reagent consumption
  • Upgraded resource and pre-feasibility study soon due in M&A-intensive Goldfields

 

Special Report: Astral Resources has reported more outstanding recoveries from its cornerstone deposit as it looks towards an updated resource and PFS over the Mandilla gold project south of Kalgoorlie.

Metallurgical test work over six sections of Astral Resources (ASX:AAR) million-ounce-plus Theia deposit showed an average gravity recovery of 87.6% and an average 24-hour gold recovery of 98.2%.

Paired with respective cyanide and lime consumption at 0.35kg/t and 1.9kg/t, Astral heralded the results as outstanding, and more importantly, consistent with previous results demonstrating extremely high gold recoveries, fast leach kinetics and low reagent consumption.

Results have been similar for the other deposits which make up Mandilla’s open-pittable 1.265Moz collection, a number soon due for enlargement after recent drill results which included a best-ever hit.

Astral managing director Marc Ducler noted that previous metallurgy had demonstrated the Theia deposit to have outstanding metallurgical characteristics in both the oxide and fresh rock samples, and that more recently the company had completed variability metallurgical test work to satisfy the requirements of the PFS.

“The latest phase of metallurgical test work involved the collection of 234 samples, representing six sections along the Theia ore body,” he said.

“Once again, the results are exceptional, achieving an average gravity recovery of 87.6% and an average overall gold recovery after only 24-hours of leaching of 98.2%.

“Pleasingly, these results were achieved using a coarse grind size of 150μm (meaning reduced power consumption) and low reagent consumption, consistent with previous results, which is expected to support low processing costs in the PFS.”

Ducler said with focus firm on delivering a technically and financially robust study, the latest results, together with those covering other deposits, further confirm the project’s quality and represent another significant step in de-risking.

“Meanwhile, Cube Consulting is currently finalising the updated Mandilla mineral resource estimate, the results of which are expected to be announced in the March quarter. Mine design work, to support the PFS, will then commence,” he said.

“Elsewhere, diamond drill results from the three-hole program at the Feysville project’s Kamperman deposit are expected in the coming weeks.

“The air-core program at Feysville has also been completed with assay results also due in the near term. A 46-hole RC drill program is expected to commence at Feysville in March 2025.”

 

Goldfields grabs

Ducler added with an off-market take-over of Maximus Resources now free of conditions, shareholders who accept the offer will be issued their AAR shares within ten business days.

The deal is more about tenement consolidation than adding ounces, and is expected to smooth the Mandilla development as an avalanche of M&A comes for the WA gold space.

Astral hit the scale and market support required to turn hunter on its 300,000oz neighbour, and AAR itself has been labelled a potential target for its location on the doorstep of Gold Fields’ St Ives mine.

But whatever happens, Astral is confident in its ability to develop the fully owned Mandilla solo, with an updated resource for this quarter and a prefeasibility study for the following quarter to capture some attention as the region’s lone junior to hold a million-ounce deposit.

 

 

 

This article was developed in collaboration with Astral Resources, a Stockhead advertiser at the time of publishing.

 

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

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