Asra Minerals is just weeks away from completing its updated gold mineral resource estimate for its Mt Stirling project in WA’s eastern Goldfields region that will prioritise the site’s open-pit potential.
The project, comprising about 74 square kilometres of tenure, is 20km north of Leonora and currently has a JORC-compliant estimate of about 118,400 gold ounces.
Asra has been busy with the drill in recent months and says at least 167 holes will be included in its upcoming figure.
Since November, the company has completed a 224-hole program across six of its major prospects.
Asra’s Mt Stirling prospect has been a major focus with 70 holes completed for a total of 10,180m that included both infill and extension drilling.
The company has previously said a total of 48 drill holes at Stirling Well are expected to be included in its estimate.
There has also been extensive drilling at its two JORC-compliant resources, MS Viserion and Stirling Well.
MS Viserion sits on 2 million tonnes at 1.54 g/t for 102,000 ounces contained and Stirling Well is 840m south with a resource of 254,000 tonnes at 2.01 g/t gold for 16,400 ounces contained.
Asra says it aims to continue to expand MS Viserion following the release of the upgraded mineral resource estimate in addition to follow-up exploration of its priority targets.
The broader region has recently produced about 14 million ounces of gold from an array of mines including Tower Hills, Sons of Gwalia, Thunderbox, Harbour lights and Gwalia.
Asra’s project lies within 8km of Red 5’s 4-million-ounce King of the Hills gold mine that has produced more than 1 million ounces of gold so far.
The company says Mt Stirling is a “triple play” because the the project hosts multiple commodities with heavy rare earth elements and critical minerals in addition to gold.
Last week Asra announced it will drill up to 50,000m across nine tenements at its Mt Stirling project after receiving approval to probe for rare earths, cobalt and scandium.
Drilling this year verified the presence of rare earths, cobalt and scandium that led to a significant re-brand for the gold miner, previously known as Torian Resources.
Asra is currently running the rule over a mineralogical characterisation study using material from its Yttria and Wishbone prospects with the University of Queensland’s Julius Kruttschnitt Mineral Research Centre.
With a new identity as a multi-resource explorer, an upcoming gold mineral resource estimate and a swag of hits on the board, the market will be keeping a close eye on Asra Minerals' next steps.
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By Matt Birney
