Astral Resources Announces Outstanding Metallurgical Results at Mandilla Gold Project
AAR (AAR) Share Update September 2024 Monday 16th
Astral Resources Achieves Exceptional Gold Recoveries at Mandilla Gold Project
Astral Resources (ASX: AAR) has announced exceptional metallurgical results from its Mandilla Gold Project in Western Australia, significantly de-risking the project and showcasing high gold recoveries across multiple deposits.
Instant Summary:
- Gold recoveries of up to 99.5% achieved across key deposits.
- Exceptional results from Hestia, Eos, and Iris deposits.
- Metallurgical testing under typical process plant conditions.
- Consistent high gravity gold recoveries and rapid leaching.
- Exploration drilling programs progressing well at Theia and Feysville.
Exceptional Metallurgical Results
Astral Resources has reported outstanding metallurgical results from the Mandilla Gold Project, located approximately 70km south of Kalgoorlie in Western Australia. Recent test-work on samples from the Hestia, Eos, and Iris deposits demonstrated gold recoveries of up to 99.5% under typical process plant conditions.
The metallurgical testing was conducted under a range of grind sizes and modest cyanide concentrations, reflecting real-world processing conditions. At a 212μm grind size, the final gold recoveries achieved after only eight hours of leaching were: 96.5% gravity recovery and 99.5% final recovery for Hestia; 17.9% gravity recovery and 98.8% final recovery for Eos; and 66.8% gravity recovery and 96.5% final recovery for Iris.
Consistent High Gold Recoveries
These results are consistent with previous findings at Theia, Mandilla's flagship deposit, which also demonstrated high gold recoveries, fast leach kinetics, and low reagent consumptions. The exceptional metallurgical characteristics of the Mandilla Gold Project significantly de-risk the project and confirm its potential for high gold recoveries in typical processing conditions.
Exploration and Drilling Progress
In addition to the metallurgical results, Astral Resources has completed the first phase of an in-fill RC drilling program at Theia, with 70 holes drilled for an aggregate of 6,500 meters. The drill rig has now relocated to the Feysville Gold Project to undertake a 34-hole (3,750 meters) program to test for extensions to the Kamperman deposit. Encouragingly, the first three holes have intersected significant quartz and sulphide mineralisation.
Mineral Resource estimations are currently underway for Think Big, Rogan Josh, and Kamperman at Feysville, with results expected later this month.
The exceptional metallurgical results significantly de-risk the Mandilla Gold Project, enhancing its economic viability and positively impacting the project's pre-feasibility study metrics. This news is likely to boost investor confidence and positively affect Astral Resources' stock price.
Investor Reaction:
Analysts are expected to react positively to the news, given the high gold recoveries and the project's de-risking. The results confirm the potential for low-cost, high-recovery gold production at Mandilla, which could attract further investment and interest in Astral Resources.
Conclusion:
Investors should closely monitor Astral Resources' ongoing exploration and drilling activities, as well as the upcoming Mineral Resource estimations. The exceptional metallurgical results at Mandilla highlight the project's potential and could lead to significant long-term value for shareholders.