Astral Resources Increases Spargoville MRE to 1.76M Ounces

THE DRILL SERGEANT: Astral Resources (ASX: AAR) gave Day Two punters at the 2025 RIU Resources Roundup by reporting an update to the Mineral Resource Estimate (MRE) for the company’s 100 per cent-owned Spargoville gold project near Kalgoorlie in Western Australia.

Astral Resources acquired the project via its recent takeover of Maximus Resources.

The restated JORC 2012 MRE has come in at 3 million tonnes at 1.4 grams per tonne gold for 139,000 ounces of contained gold.

“With compulsory acquisition of the outstanding shares in Maximus having now been completed, we considered that it was important to set our own baseline for the recently acquired Mineral Resources at the Spargoville gold project,” Astral Resources managing director Marc Ducler said in the company’s ASX announcement.

“Astral’s standard approach when testing the Mineral Resources for reasonable prospects for economic extraction (RPEE) includes a first step of regularising the block model, which is the process of varying the size of the block model shapes to approximate the size of the earth moving machinery likely to be used in open pit mining.

“This serves to more accurately reflect the amount of dilution likely to be experienced during open pit mining and provides a good base for the subsequent optimisations used to identify the potentially economic portion of the mineralisation models.

“Today’s update reflects this process of regularisation as well as the application of the latest revenue and cost data for the pit optimisations derived from contractor quotes obtained for the upcoming Mandilla PFS.

“The downward revision in contained metal is mostly attributable to the impact of dilution resulting from increasing the block dimensions to 4mE x 5mN x 5mRL and application of the Astral economic constraints.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE