Asra Minerals' Drilling Update: Promising Gold Grades at Kookynie and Mt Stirling
ASRA MINERALS LIMITED (ASR) Share Update September 2024 Monday 30th
Asra Minerals Announces Positive Drilling Results at Kookynie and Mt Stirling Projects
Asra Minerals Limited (ASX: ASR) has released an encouraging update on its drilling activities at the Kookynie and Mt Stirling Gold Projects, revealing significant gold grades that validate historical data and boost confidence in future resource growth.
Instant Summary:
- Three RC drill holes completed at Kookynie East Project.
- Significant gold grades: 4m at 8.84 g/t Au from 79m, including 1m at 24.7 g/t.
- Diamond drilling in progress at Sapphire mine.
- Detailed aeromagnetic survey completed at Mt Stirling and Kookynie East.
- RC and AC drilling underway ahead of schedule at Mt Stirling Gold Project.
Drilling Results at Kookynie East Project
Asra Minerals has completed three reverse circulation (RC) drill holes at the Kookynie East Project, targeting the historical Sapphire, Orion, and Gladstone mines. Each hole successfully intersected the targeted mineralised structures, confirming significant gold grades.
At the Sapphire mine, RC drill hole NIC004 returned 4m at 8.84 g/t Au from 79m, including 1m at 24.7 g/t Au from 79-80m. At the Gladstone mine, RC drill hole NIC001 intersected 2m at 3.18 g/t Au from 57m and 2m at 2.77 g/t Au from 64m. Meanwhile, RC drill hole NIC002 at the Orion mine reported 4m at 3.12 g/t Au from 67m.
Diamond Drilling and Aeromagnetic Surveys
Diamond drilling is currently in progress at the Sapphire mine, with core processing underway for both the Orion and Sapphire diamond drill holes. Additionally, a detailed aeromagnetic survey has been completed at both Mt Stirling and Kookynie East, with data processing and interpretation ongoing.
Early Drilling at Mt Stirling Gold Project
Asra Minerals has also commenced a 4,000m aircore (AC) and RC drill program ahead of schedule at the Mt Stirling Gold Project. This program aims to test high-priority anomalies defined at the Mt Stirling Diorites Area. Six high-priority target areas have been identified, with drill testing currently in progress.
Future Plans
Following the completion of the Mt Stirling program, RC drilling will recommence at Kookynie East to test high-priority, untested resource growth and regional targets. This systematic approach aims to extend known targets and generate additional resource growth and discovery targets from extensive data review.
The positive drilling results and significant gold grades are likely to boost investor confidence in Asra Minerals. The validation of historical data and the potential for resource growth could positively impact the company's stock price. The ongoing and planned drilling activities, along with the completion of aeromagnetic surveys, indicate a strong commitment to exploration and resource expansion.
Investor Reaction:
Analysts are expected to react positively to the drilling results, as they validate historical data and indicate the potential for significant resource growth. The early commencement of drilling at Mt Stirling and the completion of aeromagnetic surveys further demonstrate Asra Minerals' proactive approach to exploration.
Conclusion:
Investors should keep an eye on Asra Minerals' continued exploration activities and upcoming drilling results. The company's strategic focus on validating historical data and expanding resources positions it well for future growth. Subscribe to our newsletter for regular updates on Asra Minerals and other stock market news.