# AAR: Australian Gold Conference Presentation Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/aar-australian-gold-conference-presentation--34b0dbce-e36d-4b8e-8d4b-3d8450f8f4bf Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03152022 Publisher: asx Original announcement: 2026-10-13T21:51:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-13T22:18:44.226Z Atlas analysis updated: 2026-10-13T22:18:44.226Z - Company: Astral Resources - Ticker: AAR - Exchange: ASX - Region: Western Australia - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Other, Drill results - Extracted: 2026-10-13 22:18:44 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Astral Resources presented an update on its Mandilla Gold Project, highlighting successful Pre-Feasibility Study \(PFS\) results with high margins and a clear path to a Definitive Feasibility Study \(DFS\). The presentation also outlines exploration progress at Theia and Feysville, and the significant resource growth achieved at Spargoville. Reasoning: The document is a corporate investor presentation summarizing existing project milestones, financial position, and development pathways rather than announcing a single new technical event. - Positive factor: Strong balance sheet with A$65.1M cash on hand - Positive factor: Mandilla Gold Project PFS shows robust economics with 101% IRR - Positive factor: Significant resource growth potential across portfolio - Positive factor: Clear pathway to DFS for Mandilla Facts used in scoring: 6 ## Classification and evidence **Nearology Play** Polarity: neutral Story-specific tag Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: The presentation positions the project as adjacent to established infrastructure and known deposits in the WA Goldfields. Evidence · text > Located in a Tier-1 jurisdiction, with low sovereign risk and adjacent to established infrastructure ## Extracted facts Stored fact records: 6. Some facts used in scoring do not have a stored record. ## Drill Results (6) ### AMRCD378 [Link to this fact](https://atlas-staging.minestarters.com/news/aar-australian-gold-conference-presentation--34b0dbce-e36d-4b8e-8d4b-3d8450f8f4bf#fact-drill-facts-0) Theia · gold #### Identity - Hole ID: AMRCD378 - Project: Theia - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: AAR #### Geometry - Grade: 4.67 - Grade Unit: g/t - Intercept: 53 m #### Classification - Sample Type: drill #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: Significant gold mineralisation reported below the base of the resource shell. - Positive factor: High grade intercept below resource shell Evidence · text > AMRCD378 returned significant gold mineralisation 53m at 4.67g/t Au starting below the base of the Resource shell #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### AMRCD377 [Link to this fact](https://atlas-staging.minestarters.com/news/aar-australian-gold-conference-presentation--34b0dbce-e36d-4b8e-8d4b-3d8450f8f4bf#fact-drill-facts-1) Theia · gold #### Identity - Hole ID: AMRCD377 - Project: Theia - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: AAR #### Geometry - Grade: 2.39 - Grade Unit: g/t - Intercept: 23 m #### Classification - Sample Type: drill #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: Significant gold mineralisation reported below the base of the resource shell. - Positive factor: Mineralisation below resource shell Evidence · text > AMRCD377 also returned significant gold mineralisation – 23m at 2.39g/t Au #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### AMRCD377 [Link to this fact](https://atlas-staging.minestarters.com/news/aar-australian-gold-conference-presentation--34b0dbce-e36d-4b8e-8d4b-3d8450f8f4bf#fact-drill-facts-2) Theia · gold #### Identity - Hole ID: AMRCD377 - Project: Theia - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: AAR #### Geometry - Grade: 5.02 - Grade Unit: g/t - Intercept: 33 m #### Classification - Sample Type: drill #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: Significant gold mineralisation reported below the base of the resource shell. - Positive factor: High grade intercept below resource shell Evidence · text > and 33m at 5.02g/t Au – both of which are located below the base of the Resource shell #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 4 [Link to this fact](https://atlas-staging.minestarters.com/news/aar-australian-gold-conference-presentation--34b0dbce-e36d-4b8e-8d4b-3d8450f8f4bf#fact-drill-facts-3) Think Big · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Think Big - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: AAR #### Geometry - Grade: 10 - Grade Unit: g/t - Intercept: 3 m #### Classification - Sample Type: drill #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: High grade RC intercept reported at Think Big. - Positive factor: High grade intercept Evidence · text > 3m at 10.0g/t Au #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 5 [Link to this fact](https://atlas-staging.minestarters.com/news/aar-australian-gold-conference-presentation--34b0dbce-e36d-4b8e-8d4b-3d8450f8f4bf#fact-drill-facts-4) Think Big · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Think Big - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: AAR #### Geometry - Grade: 9.53 - Grade Unit: g/t - Intercept: 2 m #### Classification - Sample Type: drill #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: High grade RC intercept reported at Think Big. - Positive factor: High grade intercept Evidence · text > 2m at 9.53g/t Au #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 6 [Link to this fact](https://atlas-staging.minestarters.com/news/aar-australian-gold-conference-presentation--34b0dbce-e36d-4b8e-8d4b-3d8450f8f4bf#fact-drill-facts-5) Think Big · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Think Big - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: AAR #### Geometry - Grade: 6.01 - Grade Unit: g/t - Intercept: 9 m #### Classification - Sample Type: drill #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: RC intercept reported at Think Big. - Positive factor: Solid grade intercept Evidence · text > 9m at 6.01g/t Au #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.