Astral Resources Reveals Promising Assay Results at Kamperman Prospect
AAR (AAR) Share Update August 2024 Thursday 1st
Astral Resources Reports Strong Assay Results at Kamperman Prospect
Astral Resources NL (ASX: AAR) has announced exceptional assay results from its recent in-fill and extensional drilling program at the Kamperman Prospect, part of the Feysville Gold Project in Western Australia.
Instant Summary:
- 26-hole/2,808 metre RC drilling program completed at Kamperman Prospect.
- Significant gold intersections include 38 metres at 2.12g/t Au and 34 metres at 2.24g/t Au.
- In-fill results support a high-grade west-dipping zone of gold mineralisation over 450 metres.
- Extensional drilling indicates mineralisation remains open to the north and east.
- Results to underpin a maiden Mineral Resource Estimate (MRE) due in the September Quarter.
Drilling Program and Results
Astral Resources has completed a 26-hole, 2,808 metre reverse circulation (RC) drilling program at the Kamperman Prospect within the Feysville Gold Project. The drilling program aimed to in-fill and extend known mineralisation zones.
Significant assay results from the first 23 holes include:
- 38 metres at 2.12g/t Au from 42 metres in FRC358
- 34 metres at 2.24g/t Au from 33 metres in FRC353
- 19 metres at 3.32g/t Au from 32 metres, including 1 metre at 32.78g/t Au from 48 metres in FRC355
- 18 metres at 1.51g/t Au from 28 metres in FRC343
- 8 metres at 2.40g/t Au from 20 metres in FRC344
Geological Interpretation
The in-fill results support the interpretation of a high-grade west-dipping zone of gold mineralisation extending from north to south over 450 metres of strike. Extensional drilling shows that the mineralisation at Kamperman remains open both to the north and east.
Upcoming Mineral Resource Estimate
The results will underpin a maiden Mineral Resource Estimate (MRE) for Kamperman, due in the September Quarter. This MRE will be part of an updated MRE for the Feysville Gold Project, which aims to provide a valuable source of high-grade satellite feed for the Mandilla Process Plant.
Future Exploration Plans
Astral Resources' Managing Director, Marc Ducler, highlighted the success of the drilling program and the company's plans to commence a 6,000 metre RC drilling program at the Theia Deposit within the Mandilla Gold Project. Following this, Astral will return to Feysville to follow up on significant gold anomalies announced earlier this month.
The strong assay results are likely to positively impact Astral Resources' stock price as they indicate the potential for significant gold resources at Kamperman. The upcoming MRE could further boost investor confidence and attract more interest in the company's projects.
Investor Reaction:
Analysts are expected to react positively to the news, given the high-grade gold intersections and the potential for further resource expansion. The market may see increased trading activity in Astral Resources' shares as investors position themselves ahead of the September MRE release.
Conclusion:
Investors should keep an eye on the upcoming Mineral Resource Estimate for Kamperman and Astral Resources' continued exploration efforts. The promising assay results and potential for resource expansion make Astral Resources a company to watch in the gold mining sector.