Theia In-fill Drilling Yields 3m at 99.9g/t and 1m at 191.4g/t Gold in Early Assays

Strong Early Results from Theia In-fill Drilling

Astral Resources has released assay results from the first 17 holes of a 99-hole, 10,000-metre in-fill reverse circulation drilling program at its flagship Theia Deposit, part of the Mandilla Gold Project near Kalgoorlie, Western Australia. The initial 2,030 metres of drilling demonstrate broad zones of gold mineralisation with remarkable high-grade intercepts, including standout hits such as 3 metres at 99.9 grams per tonne (g/t) and 1 metre at 191.4 g/t gold.

These results confirm a strong alignment with the existing Mineral Resource Estimate (MRE) announced earlier in April 2025, which outlined 33.3 million tonnes at 1.1 g/t gold for 1.15 million ounces of contained gold. The consistency of gold grades along the length of these intersections within the core mineralised zones reinforces confidence in the resource model and the project's development plans.

Significance for Mandilla Gold Project Economics

Theia is a critical component of the Mandilla Gold Project, representing approximately 75% of the gold production forecast in the June 2025 Preliminary Feasibility Study (PFS). The PFS envisages a standalone operation producing 95,000 ounces of gold annually over the first 12 years, with a net present value of $1.4 billion based on an 8% discount rate and a gold price of A$4,250 per ounce.

Managing Director Marc Ducler emphasised the importance of these early drilling results, noting that the high-grade intersections and the continuity of mineralisation are encouraging signs that underpin the project's robust economics. The ongoing in-fill drilling program aims to increase drill density within a key 80 by 120-metre panel of the Stage 1 open pit to a 12-metre by 12-metre spacing, further de-risking the project ahead of mining.

Expanding Exploration and Future Drilling Plans

Beyond Theia, Astral has commenced a 21-hole, 2,500-metre reverse circulation drilling program at the Spargoville Project under a joint venture with KOMIR, targeting lithium-pegmatite deposits identified through geochemical surveys. Early progress includes completion of four holes, with the program expected to conclude within three weeks.

Following completion of the RC drilling at Mandilla and Spargoville, the rig will move to Feysville for further drilling programs. Additionally, a 3,000-metre diamond drilling campaign targeting high-grade structures within Theia is slated to begin in the December quarter of 2025, aiming to unlock further high-grade ounces and refine the geological understanding of the deposit.

Robust Sampling and Quality Assurance

The drilling and sampling programs employ industry-standard techniques, including reverse circulation and diamond drilling, with samples assayed using advanced Photon Assay technology. Quality control measures such as certified reference materials, blanks, and duplicates are rigorously applied to ensure data integrity. The strong correlation between assay results and the MRE model adds further confidence to the resource's reliability.

Overall, Astral Resources’ latest drilling results at Theia reinforce the Mandilla Gold Project’s potential as a significant new gold producer in Western Australia, with ongoing exploration and development activities positioning the company for the next phase of growth.