Gold

Asra Minerals says gold extends beyond known boundaries at Mt Stirling

Mon 23 May 22, 2:00pm (AEST)
Gold Mining

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Key Points

  • Asra Minerals has uncovered piecemeal high-grade cores at its WA Eastern Goldfields Mt Stirling project
  • Company is to publish an upgraded global Mineral Resource Estimate within weeks
  • Project located nearby a gold mine with over 1M oz Au produced; probing multiple targets

Asra Minerals (ASX:ASR) has discovered significant gold intercepts on-site its Mt Stirling Project in the WA Eastern Goldfields with high grade segments assayed in a recent drill run. 

The most eyebrow raising result is 6m @ 5.38 grams of gold per tonne with a further 3m @ 10.15g/t found alongside 21m @ 1.09g/t. 

The company notes it is to publish a new global Mineral Resource Estimate (MRE) "within weeks;" the most recent drilling program has uncovered multiple gold targets which are now on the company's near-term exploration radar. 

The intercepts, Asra Minerals adds, effectively represent an extension of mineralisation on-site beyond existing resource boundaries attached to the project. 

(Source: Asra Minerals) A map outlining the location of the Stirling target relative to Red 5's operations
(Source: Asra Minerals) A map outlining the location of the Stirling target relative to Red 5's operations

Area prospective for both gold and rare earths 

Asra Minerals highlighted to the market this morning the presence of a JORC compliant total MRE of 118,400oz Au on site adjoins "an endowment of clean heavy rare earths and critical minerals." 

The Mt Stirling project is 8km northwest of Red 5's (ASX:RED) King of Hills gold mine; that asset has produced over 1Moz Au to date. 

Assay results to inform the pending global MRE were received for 13 drill holes, a total of 48 will be included in the pending updated MRE. 

Company keen to probe ‘Skywing’ target 

A further two drill holes at the 'Skywing' target are awaiting assay results. 

Skywing lodes vary from 1-2m true width and the company believes they provide a prospective shallow deposit prime for an open-pit operation. 

Further drill testing for Skywing is scheduled, targeting the eastern area of the target where Asra Minerals claims gold grades increase in results retrieved so far. 

The shallow nature of mineralisation at Skywing, Asra Minerals hopes, will allow it to fast-track the inclusion of that mineralisation into an upcoming mine optimisation study. 

Forty two drill holes have been perforated at Skywing with just over 2,000m of core to be reviewed. 

Asra Minerals' three month charts compared to the materials index
Asra Minerals' three month charts compared to the materials index

 

Written By

Jonathon Davidson

Journalist

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication.

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