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Astral Resources NL (ASX:AAR)

ALERT: Price-sensitive ASX Announcement for AAR
Current share price for AAR : $0.135 -0.03 (-18.18%)+
Announcement
Release
9 Oct 2026 9:31AM
Price at Release
$0.165
Full Release
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Summary
Astral Resources NL (ASX: AAR) announced a substantial update to the Mineral Resource Estimate for its 100%-owned Spargoville Gold Project in Western Australia, increasing the project resource by 102% from the prior May 2025 estimate to 8.5Mt at 1.0g/t Au for 281koz of contained gold under JORC 2012, following reinterpretation and re-estimation of the Spiders, Eagles Nest, 8500N and 5B deposits using a 0.40g/t Au cut-off and pit shells based on A$4,500/oz gold and Mandilla DFS-aligned mining and processing assumptions; Indicated Resources rose 130% to 5.1Mt at 1.1g/t Au for 186koz, with Spiders now the largest deposit at 5.5Mt for 177koz, while Wattle Dam Stockwork, Larkinville and Hilditch remain unchanged from May 2025, and the update was achieved with only about 16,000m of new RC drilling, supporting renewed exploration and planned drilling, while lifting Astral’s consolidated group Mineral Resource to 67.0Mt at about 1.0–1.1g/t Au for 2.214Moz across Mandilla, Feysville and Spargoville; the announcement also notes Spargoville’s open-pit development potential, granted mining tenure, encouraging metallurgy, and no apparent environmental barriers identified to date.
Key Points
  • Spargoville Mineral Resource Estimate increased 102% to 8.5Mt at 1.0g/t Au for 281koz contained gold.
  • Indicated Resources increased 130% to 5.1Mt at 1.1g/t Au for 186koz.
  • The update covers the Spiders, Eagles Nest, 8500N and 5B deposits, while Wattle Dam Stockwork, Larkinville and Hilditch remain unchanged.
  • Spiders is now the largest Spargoville deposit with 5.5Mt at 1.0g/t Au for 177koz.
  • The revised estimate used a 0.40g/t Au cut-off and pit shells based on a gold price of A$4,500/oz.
  • Cost assumptions were aligned with the upcoming Mandilla Gold Project Definitive Feasibility Study mine optimisations.
  • The increase was achieved with only about 16,000m of new reverse circulation drilling since Astral acquired Maximus Resources.
  • Astral plans renewed exploration and further drilling at Spargoville, including at Spiders.
  • Spargoville is considered amenable to open pit mining with assumed 96% processing recovery in optimisation work.
  • Astral’s consolidated group Mineral Resource increased to 67.0Mt for 2.214Moz of contained gold.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.