Asra Minerals Targets High-Grade Gold Near Sapphire Deposit at Leonora South
Asra Minerals launches a 3,000m drilling campaign at Leonora South, aiming to confirm historic gold mineralisation near its Sapphire resource. Results expected by September could reshape the project's resource potential.
- 3,000m reverse-circulation drilling planned at Challenge and Eclipse prospects
- Targets located within 500m of existing 21,600oz JORC resource at Sapphire
- Program aims to validate historic high-grade gold intersections
- Drilling to commence mid-July with assays anticipated by September
- Follows recent drilling at Orion, Sapphire, and Gladstone with results pending
Exploration Momentum Builds at Leonora South
Asra Minerals Ltd (ASX, ASR) is accelerating its exploration efforts at the Leonora South Gold Project in Western Australia's prolific Eastern Goldfields region. The company has announced a focused 3,000-metre reverse-circulation drilling program targeting two high-priority prospects, Challenge and Eclipse, situated just 500 metres from its existing Sapphire deposit. This proximity to a known JORC 2012 Mineral Resource of 21,600 ounces at 2.1 grams per tonne gold underscores the potential significance of the campaign.
The drilling program is designed to confirm and extend historic shallow gold mineralisation previously identified through earlier RC drilling. By validating the grade and continuity of these mineralised zones, Asra aims to deepen geological understanding and assess the prospects’ resource potential more comprehensively. The company expects to commence drilling imminently, with results from assays anticipated as early as September.
Strategic Positioning in a Renowned Gold District
Leonora South sits within the historic Kookynie mining centre, approximately 180 kilometres north of Kalgoorlie, an area known for its rich gold endowment. Asra’s broader Leonora Gold Project encompasses extensive landholdings both north and south of Leonora, covering greenstone belts geologically akin to multi-million-ounce gold deposits nearby. The company’s existing JORC-compliant resources at Orion and Sapphire, alongside recent drilling at Gladstone, provide a solid foundation for growth.
Managing Director Paul Stephen highlighted the strategic importance of the upcoming drilling, noting that the Challenge and Eclipse prospects lie “right on the doorstep” of the Orion-Sapphire resource. He expressed confidence that confirming near-surface mineralisation at these targets could unlock further value and advance the company’s understanding of the broader mineral system.
Looking Ahead, Unlocking Resource Growth Potential
This drilling initiative follows a recent campaign at Orion, Sapphire, and Gladstone, where samples have been dispatched for analysis but results remain pending. The combined data from these programs will be critical in shaping Asra’s next steps, including potential resource upgrades and further exploration targeting.
Asra’s Leonora South project is complemented by its Leonora North holdings, which include the Mt Stirling area with inferred and indicated resources totaling over 150,000 ounces. Together, these assets position Asra Minerals as a notable player in one of Australia’s most prolific gold regions, with exploration upside that could materially enhance its resource base.
Bottom Line?
Asra’s imminent drilling results at Leonora South will be pivotal in defining the next phase of growth for this promising gold project.
Questions in the middle?
- Will the upcoming assays confirm the historic high-grade gold intersections at Challenge and Eclipse?
- How might positive drilling results impact Asra’s overall resource estimates and valuation?
- What are the company’s plans for further exploration or development following this drilling phase?