Asra Minerals has initiated a 2,000-meter aircore drilling program targeting extensions of historic high-grade gold mineralisation at its Leonora South Gold Project in Western Australia.
- Commencement of 50-hole aircore drilling program at Cosmopolitan and Altona South
- Targets extensions of historic gold mineralisation from mines that produced over 448,000 ounces
- Drilling designed to test highly prospective zones identified by recent geological assessments
- Program expected to take 1-2 weeks with results to follow
- Part of broader exploration strategy within Asra’s Leonora Gold Project portfolio
Historic Gold Mines Under the Spotlight
Asra Minerals Ltd (ASX – ASR) has kicked off an aircore drilling campaign at the Cosmopolitan and Altona South prospects, located within its Leonora South Gold Project near Kookynie, Western Australia. The program comprises 50 planned holes totaling approximately 2,000 meters, aiming to explore extensions of gold mineralisation linked to two historically significant mines.
The Cosmopolitan mine, active from 1892 to 1922, produced an estimated 360,000 ounces of gold, while the Altona mine, operational between 1900 and 1965, yielded around 88,700 ounces. These figures, though not JORC-compliant, underscore the area's rich gold endowment and provide a compelling backdrop for Asra’s exploration efforts.
Strategic Exploration in a Proven Gold Camp
The aircore drilling program is designed to test geological extensions south of these historic mines, focusing on zones identified as highly prospective through recent geophysical and geological studies. Aircore drilling offers a cost-effective and efficient method to rapidly assess near-surface mineralisation, allowing Asra to quickly refine its understanding of the area's potential.
Managing Director Paul Stephen expressed optimism about the campaign, highlighting the opportunity to uncover new gold discoveries in an underexplored part of a well-known gold camp. The program is expected to be completed within one to two weeks, with the company committed to providing timely updates on progress and assay results.
Context Within Asra’s Broader Leonora Portfolio
This drilling initiative complements Asra’s broader Leonora Gold Projects, which include both northern and southern tenements in the prolific Eastern Goldfields region. The company holds JORC-compliant resources at Mt Stirling in Leonora North and the Orion-Sapphire deposits in Leonora South, collectively amounting to over 200,000 ounces of gold at respectable grades.
Situated near established gold operations such as Vault Minerals’ King of the Hills and Genesis Minerals’ Leonora and Kookynie mines, Asra’s landholdings benefit from geological similarities to multi-million-ounce deposits. The current drilling at Cosmopolitan and Altona South could add significant value by expanding the known resource base and enhancing geological models.
Looking Ahead
While historical production data provides encouraging context, it is important to note that these figures have not been verified under modern reporting standards. Asra’s drilling results will be critical in validating the potential for new discoveries and guiding future exploration and resource development strategies.
Investors and industry watchers will be keenly awaiting assay outcomes and subsequent updates, which could influence Asra’s valuation and strategic direction in this highly competitive gold region.
Bottom Line?
Asra’s aircore drilling at historic gold sites could unlock new discoveries, setting the stage for resource growth in a proven gold district.
Questions in the middle?
- Will the drilling confirm extensions of high-grade gold mineralisation beyond historic mine boundaries?
- How might new discoveries impact Asra’s overall resource estimates and project valuation?
- What are the next steps if promising results emerge from this initial aircore program?