In the competitive ASX exploration sector, significant drill results can capture the market’s attention, and Astral Resources recently delivered a remarkable finding at its Feysville gold project in Western Australia. The company’s stock surged 36%, rising from 12.5 cents to 17 cents following the announcement of a 3-meter drill intersection grading an astounding 5.7 ounces per tonne (177 grams per tonne) of gold.
The standout drill hit is part of a broader 25-meter intersection that averages a stellar 24.3 grams per tonne of gold, starting from a depth of 68 meters. This impressive result underscores the potential of the Feysville project, enhancing Astral’s position in the gold exploration market.
The detailed breakdown of the drill hole reveals:
25m at 24.3g/t gold from 68m depth
Including 1m at 28g/t gold from 69m
Additionally, 3m at 177g/t gold from 74m
The drill hole also displayed earlier intercepts, including:
12m at 7.26g/t gold from 23m
With 1m at 16.5g/t gold from 24m
And a notable 1m at 39.7g/t gold from 27m, which translates to over an ounce per tonne.
Following the announcement, the market responded enthusiastically to Astral’s results, highlighting investor interest in high-grade gold finds. The dramatic rise in stock price indicates confidence in the company’s ability to capitalize on its gold discoveries.
In addition to Astral Resources’ findings, other exploration companies also reported significant drill results last week. Core Lithium unveiled promising data from its Shoobridge Gold-Lithium project in the Northern Territory, while Arika Resources reported findings from its Yundamindra project in WA, further contributing to a dynamic exploration environment.
Astral Resources’ recent drill success exemplifies the potential of its Feysville project and serves as a reminder of the excitement that high-grade gold discoveries can generate in the mining sector. As the company continues its exploration efforts, investors and market observers will undoubtedly keep a close eye on future announcements and developments.
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