Astral Resources Announces Further Outstanding Metallurgical Recoveries from Theia, Boosting Project Economics

Astral Resources (AAR:AU) has announced further outstanding metallurgical recoveries from Theia, a deposit that makes up 81% of the Mandilla mineral resource estimate. The scoping study at Mandilla indicates robust project economics, including a mine life of 11 years, annual production of 100,000 oz in the first seven and a half years, NPV@8% of AU$442 million, and free cash flow of AU$740 million. The company is led by Managing Director Marc Ducler, with over two decades of experience in the mining industry.

Astral Resources (AAR:AU) has recently announced impressive metallurgical recoveries from its Theia deposit, which forms a significant portion of the Mandilla mineral resource estimate. The Theia deposit, located in the northern Widgiemooltha greenstone belt of Western Australia, is a promising area for gold mineralization [1].

The scoping study at Mandilla, conducted by Astral Resources, has indicated robust project economics. The study outlines a mine life of 11 years, with annual production of 100,000 oz in the first seven and a half years. The net present value (NPV) at an 8% discount rate is estimated to be AU$442 million, while free cash flow is projected to reach AU$740 million [1].

The Theia deposit, which has a mineralized footprint extending over a strike length of more than 1.6km, is part of a larger mineralized zone that includes the Iris deposit. The mineralized footprint at Iris extends over approximately 600 metres, combining with Theia to form a mineralized zone extending over a strike length of more than 2.2 kilometres [1].

Astral Resources' Managing Director, Marc Ducler, who boasts over two decades of experience in the mining industry, is leading the company towards this promising future. The Mandilla project is situated in the Goldfields region of Western Australia, which is known for its high-quality free-milling, open pit gold resources [1].

The study also highlights the potential for Astral Resources to become a significant player in the gold mining industry with its flagship Mandilla project. The project's compelling financial metrics and potential to yield over 100,000 oz of gold annually make it an attractive investment opportunity for those interested in the gold mining sector [1].

References:
[1] Astral Resources. (2023). Mandilla Project. Retrieved from https://astralresources.com.au/mandilla-project/