Asra Minerals proclaims success with deeper gold hits at Gladstone prospect

Asra Minerals’ drilling has extended gold mineralisation at Gladstone prospect by 45m below previous intercepts, which could increase the resource footprint.

Deeper gold hits highlight potential for Asra to increase the Gladstone mineralised footprint. Pic: Getty Images

Special Report: Asra Minerals’ recent reverse circulation drilling has confirmed the presence of deeper high-grade gold at Gladstone prospect within its Leonora South project in WA’s Eastern Goldfields.

• Asra drilling confirms deeper high-grade gold of up to 2m at 18.31g/t at Gladstone prospect
• Result extends mineralisation 45m below previous intercepts, increasing likelihood of more resources
• Drilling also fills gap between existing drill coverage, which will improve understanding of resource model

Five holes at the prospect intersected the targeted mineralised structure at depth, returning assays of up to 2m grading 18.31g/t gold from a downhole depth of 60m in hole NIC014.

Importantly for Asra Minerals (ASX:ASR), the results demonstrate the extension of Gladstone mineralisation up to 45m below previously drilled intercepts while validating the presence of coarse gold and high-grades at depth that were indicated by historical drilling.

“We are extremely pleased with these latest drilling results from Gladstone, which consistently confirm the presence of significant gold mineralisation, intercepting high-grade gold in all holes validates our interest in the area and provides valuable insights for future exploration programs,” managing director Paul Stephen said.

“These results are a major step forward in building our understanding of the broader Leonora South gold Project.”

Hole NIC014 on geological section with historical drill holes. Pic: Asra Minerals

Drill results

ASR’s drill program comprised several strategic holes designed to test infill and extensional targets within the Gladstone prospect, which is a sulphide quartz lode that has been worked over a length of ~600m.

It follows hole NC001 that was drilled in 2024 to twin the historical NGR00015 that had intercepted elevated gold but ceased sampling within mineralisation at 64m.

NC001 returned significant results of 1m at 4.965g/t gold from 58m and 1m at 4.702g/t from 65m with the company saying the wide variation of values observed between the hole and its historical twin was a strong indicator of coarse gold.

The intersection of high-grade gold improves confidence while confirming the downdip continuity of mineralisation, a finding which indicates potential for expanding the overall resource at depth.

NIC014 was drilled to test a significant gap in the existing drilling coverage and its intersection of gold is critical for infilling and informing a greater understanding of the Gladstone resource model.

Its intersection of a 1m intersection at 34.741g/t gold from 62m is also indicative of high-grade zones within the gap.

Holes NIC013, NIC015 and NIC016 were designed as step back holes to test the continuity and extent of gold mineralisation at depth.

Adding interest, a review of historical results, recent detailed aeromagnetics and mapping has identified possible strike extensions to the west of the Gladstone historical workings.

This conceptual target will be further evaluated prior to a decision on drill testing in the coming quarters.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Originally published as Asra Minerals proclaims success with deeper gold hits at Gladstone prospect