Astral Resources identifies two new zones of gold mineralisation at Feysville
Thu July 11 2024
Astral Resources NL (ASX:AAR) has delineated two significant new zones of gold mineralisation that warrant follow-up testing at the Feysville Gold Project near Kalgoorlie in Western Australia. Assay results from the first two reconnaissance aircore drill traverses highlight the potential for new gold discoveries 1.5 kilometres northwest of the project’s high-grade Kamperman Prospect.
This drilling involved a 120-hole aircore program for 3,664 metres at Feysville that identified two new zones. Around 25% of completed holes returned gold anomalism greater than 0.1g/t gold from four-metre composite sampling — a successful result for first-pass reconnaissance drilling.
Two anomalies
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 0.14 g/t gold from 27 metres to the bottom-of-hole (BOH) and 16 metres at 0.35 g/t from 26 metres, including 4 metres at 1.24 g/t from 26 metres. An average depth of 31 metres was achieved during the program.
A 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 5.01 g/t gold from 41 metres and 7 metres at 2.47 g/t from 71 metres.
The best aircore results from the current program include 19 metres at 0.73 g/t gold from 4 metres to BOH, including 4 metres at 2.46 g/t from 12 metres, and 6 metres at 0.30 g/t from 8 metres, including 1 metre at 1.02 g/t from 13 metres to BOH.
"An exciting start"
“This initial reconnaissance drill program has highlighted two new zones of gold anomalism,” said Astral Resources managing director Marc Ducler. “The first anomaly represents a potential Kamperman-style analogue located approximately 150 metres northeast 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 aricore holes drilled intersecting significant gold anomalism (>0.1g/t gold) – 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."
Rogan Josh infill program
At the Rogan Josh prospect, a 28-hole infill RC drill program was recently completed with assay results received from the first 16 holes. Best results include 2 metres at 1.28 g/t gold from 54 metres and 2 metres at 1.45 g/t from 23 metres.
Astral considers this program a moderate success in that the gold mineralisation was intersected where expected but grades were lower than expected around the peripheries.
The program appears to have successfully closed off the resource, allowing for an effective update to the MRE, which is expected to be completed in the September quarter of 2024.
Assay results for the remaining 12 holes (for 622 metres) of the Rogan Josh infill program are pending.
“While the Rogan Josh infill 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,” said Ducler.
Looking ahead
RC drilling is now being planned to follow up both anomalies in the second half of 2024, while a 26-hole (2,600 metres) 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.
Ducler added, “The exploration team is progressing an infill RC program at Kamperman before our attention turns to a planned 14,000-metre RC infill 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.”
Source: https://www.proactiveinvestors.com.au/