Astral Resources Uncovers Broad High-Grade Gold Zones at Theia Deposit

Robust In-fill Drilling Reinforces Theia’s Potential

Astral Resources has released assay results from 29 additional holes in its ongoing in-fill reverse circulation drilling program at the Theia Deposit, part of the Mandilla Gold Project near Kalgoorlie, Western Australia. These results continue to reveal broad zones of high-grade gold mineralisation, closely matching the company’s existing Mineral Resource Estimate (MRE) of 33.3 million tonnes at 1.1 grams per tonne gold, containing 1.15 million ounces.

The in-fill program, designed to increase drill density to a 12-metre by 12-metre grid over a key 80 by 120-metre panel of the Stage 1 open pit, is now approximately 50% complete with 46 holes reported out of 99 planned. This denser drilling aims to upgrade resource confidence potentially to the Measured Resource category, a critical step towards mine development and production planning.

High-Grade Intercepts Highlight Resource Quality

Among the standout results are intercepts such as 14 metres at 6.89 grams per tonne gold, including 2 metres at an exceptional 36.4 grams per tonne, and multiple other intervals exceeding 2 grams per tonne over significant widths. These findings underscore the presence of consistent, high-grade quartz vein arrays within a monzonitic intrusive host rock, with visible free gold commonly observed.

Managing Director Marc Ducler expressed growing confidence in the robustness of the resource model, noting that the majority of holes returned significant gold intervals. He highlighted the potential for Theia to serve as an ideal starter pit, with mineralisation defined to near grade control standards, accelerating the pathway to production.

Advancing Exploration and Project Economics

Complementing the in-fill drilling, Astral has commenced a 3,000-metre diamond drilling program targeting high-grade structures within Theia and testing deeper extensional targets on the deposit’s eastern flank. This deeper drilling could unlock additional resources and enhance the project’s long-term value.

The Mandilla Gold Project’s Preliminary Feasibility Study (PFS), announced in June 2025, outlines a standalone operation producing 95,000 ounces per annum over 12 years, with a net present value (NPV8) of $1.4 billion at a gold price of A$4,250 per ounce, rising to $2.9 billion at A$6,250 per ounce. Theia alone accounts for the majority of the planned production, reinforcing its strategic importance.

Future Drilling and Broader Exploration Plans

Following completion of the Theia in-fill program, drilling rigs will be redeployed to the Feysville Gold Project to extend the Kamperman deposit and follow up on historical gold anomalies. Astral’s consolidated Mineral Resource Estimate across Mandilla, Feysville, and Spargoville now stands at 50 million tonnes at 1.1 grams per tonne gold for 1.76 million ounces, with Ore Reserves of 36.6 million tonnes at 0.9 grams per tonne for 1.08 million ounces.

These drilling results and ongoing exploration efforts position Astral Resources well to advance the Mandilla project through feasibility and towards production, with the potential to deliver significant value to shareholders and the broader gold market.