AAR: Substantial Increase in Mineral Resources at Spargoville
Original announcement by asx on
- Company
- Astral Resources
- Ticker
- AAR
- Exchange
- ASX
- Region
- Western Australia
- Primary commodity
- Gold
- Secondary commodities
- None reported
- Document categories
- Resource update
- Extracted
- 2026-10-08 23:04:21 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Astral Resources has announced a substantial update to its Spargoville Gold Project Mineral Resource Estimate (MRE), reporting a 102% increase in contained gold to 281,000 ounces. The updated MRE now stands at 8.5 million tonnes at 1.0 g/t gold, with Indicated Resources increasing by 130% to 5.1 million tonnes at 1.1 g/t gold. The estimate is JORC 2012 compliant and constrained by pit shells, though the overall grade has decreased compared to the previous estimate.
Reasoning: Astral Resources announced a 102% increase in contained gold at its Spargoville Gold Project, with the Mineral Resource Estimate growing to 8.5Mt at 1.0g/t Au for 281koz. This update, which includes a 130% increase in Indicated Resources, is JORC 2012 compliant and constrained by pit shells, although the overall grade has declined by 28.5%.
Positive factors
- Significant increase in contained gold (102%) at Spargoville
- Substantial tonnage growth (183%) at Spargoville
- Significant increase in Indicated Resources (130%) at Spargoville, improving confidence
- Resource estimate is JORC 2012 compliant
- Qualified Persons have signed off on the estimate
- Cut-off grades are clearly disclosed
- Resource is constrained within pit shells, indicating reasonable prospects for economic extraction
- Updated gold price assumption (A$4,500/oz) for pit optimization
Negative factors
- Overall grade decline (28.5%) at Spargoville compared to prior estimate
- No Measured Resources reported for Spargoville
- Some metallurgical testing is preliminary and more testing is recommended
- Cut-off grade slightly increased for some deposits (0.39g/t Au to 0.40g/t Au)
Facts used in scoring: 44
Classification and evidence
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: The Spargoville MRE increased by 183% from 3.0Mt to 8.5Mt.
Evidence · text
“The MRE at Spargoville previously totalled 3.0Mt at 1.4g/t Au for 139koz of contained gold and, notwithstanding that these three deposits remain unchanged from the May 2025 MRE, the new update represents a 102% increase to 8.5Mt at 1.0g/t Au for 281koz of contained gold.”
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: The Spargoville MRE increased by 102% from 139koz to 281koz of contained gold.
Evidence · text
“The Mineral Resource Estimate (MRE) for Astral’s 100%-owned Spargoville Gold Project (Spargoville) has increased by 102% to 8.5Mt at 1.0g/t Au for 281koz of contained gold”
Category Upgradepositive
Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal.
Why it applies: Indicated Resources for Spargoville increased by 130% to 5.1Mt at 1.1g/t Au for 186koz of contained gold.
Evidence · text
“The Indicated Resources have increased by 130% to 5.1Mt at 1.1g/t Au for 186koz of contained gold.”
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: The Mineral Resource Estimate is reported in accordance with the JORC Code (2012 Edition).
Evidence · text
“reported in accordance with the JORC Code (2012 Edition).”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: Mr Michael Job (Cube Consulting) and Ms Julie Reid (Astral Resources NL) are named as Competent Persons responsible for the estimate.
Evidence · text
“The information in this announcement that relates to Estimation and Reporting of Mineral Resources for the Spiders (which includes Golden Orb, Huntsman, Redback, Trapdoor and S5), Eagles Nest, 8500N and 5B Deposits of the Spargoville Gold Project is based on information compiled by Mr Michael Job, who is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). Mr Job is an independent consultant employed by Cube Consulting. Mr Job has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Job consents to the inclusion in this Quarterly Report of the matters based on the information in the form and context in which it appears.”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: The resource is reported using a 0.40g/t Au lower cut-off grade.
Evidence · text
“The Spiders, Eagles Nest, 8500N and 5B Deposits have been re-estimated using a 0.40g/t Au lower cut-off”
Grade Declinenegative
Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.
Why it applies: The overall grade for Spargoville decreased from 1.4g/t Au to 1.0g/t Au, a 28.5% decline.
Evidence · text
“The MRE at Spargoville previously totalled 3.0Mt at 1.4g/t Au for 139koz of contained gold and, notwithstanding that these three deposits remain unchanged from the May 2025 MRE, the new update represents a 102% increase to 8.5Mt at 1.0g/t Au for 281koz of contained gold.”
No Measured Resourcenegative · Story-specific tag
No canonical definition is currently available.
Why it applies: No material has been classified as Measured in the updated MRE.
Evidence · text
“No material has been classified as Measured.”
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document reports an updated Mineral Resource Estimate for the Spargoville Gold Project.
Evidence · text
“SUBSTANTIAL INCREASE IN MINERAL RESOURCES AT SPARGOVILLE PROJECT, WA FOLLOWING RE-ESTIMATION OF KEY DEPOSITS”
Maiden Resourceneutral
First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component.
Why it applies: The 5B deposit is newly included in the updated MRE, with no prior estimate mentioned for it.
Evidence · table
“5B Indicated 0.1 1.4 6,000 Inferred 0.0 0.7 0 Total 0.2 1.3 7,000”
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: The resource estimate is constrained within pit shells derived using a gold price and cost assumptions based on the Mandilla Gold Project Definitive Feasibility Study (DFS) mine optimisations.
Evidence · text
“The cost assumptions underpinning the optimisation are based on the mining and processing unit costs used for the upcoming Mandilla Gold Project Definitive Feasibility Study (Mandilla DFS) mine optimisations.”
Open Pit Miningneutral · Story-specific tag
No canonical definition is currently available.
Why it applies: The Spargoville Project is planned to be mined by open pit extraction, and pit optimization work was conducted.
Evidence · text
“The Spargoville Project will be mined by open pit extraction. Recent pit optimisation work used a gold price of A$4,500oz”
Extracted facts
Stored fact records: 44. Some facts used in scoring do not have a stored record.
Resource Estimates (44)
indicatedSpargoville · goldTonnes: 5100000Grade: 1.1Grade Unit: g/tContained Metal: 186000Contained Unit: ozView all detailsHide details
Identity
- Project
- Spargoville
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Job, Julie Reid
- Resource group id
- resource:481a6e80f94287b33f6d
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 5100000
- Grade
- 1.1
- Grade Unit
- g/t
- Contained Metal
- 186000
- Contained Unit
- oz
- Cutoff Grade
- 0.4
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-10-01
Lab
- Laboratory
- ALS Global
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: The Indicated Mineral Resource for Spargoville increased by 130% to 5.1Mt at 1.1g/t Au for 186koz, representing a significant confidence upgrade and growth.
Positive factors
- Significant increase in Indicated Resources (130%)
- Good grade for open pit mining
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Evidence · table
“1.1”
Context: 5.1
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredSpargoville · goldTonnes: 3400000Grade: 0.9Grade Unit: g/tContained Metal: 95000Contained Unit: ozView all detailsHide details
Identity
- Project
- Spargoville
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Job, Julie Reid
- Resource group id
- resource:e774e582d5aa588afc6e
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 3400000
- Grade
- 0.9
- Grade Unit
- g/t
- Contained Metal
- 95000
- Contained Unit
- oz
- Cutoff Grade
- 0.4
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-10-01
Lab
- Laboratory
- ALS Global
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: The Inferred Mineral Resource contributes to the overall contained gold but represents a lower confidence category.
Positive factors
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Inferred category has lower geological confidence
Evidence · table
“0.9”
Context: 3.4
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Fact 3Spargoville Gold Project · goldTonnes: 8500000Grade: 1Grade Unit: g/tContained Metal: 281000Contained Unit: ozView all detailsHide details
Identity
- Project
- Spargoville Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Job, Julie Reid
- Resource group id
- resource:5854b5c765286ef50f9e
- Ownership percent
- 100 %
Resource Data
- Tonnes
- 8500000
- Grade
- 1
- Grade Unit
- g/t
- Contained Metal
- 281000
- Contained Unit
- oz
- Cutoff Grade
- 0.4
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-10-01
- Prior Tonnes
- 3000000
- Prior Grade
- 1.4
- Prior Contained Metal
- 139000
- Prior Cutoff Grade
- 0.39
Lab
- Laboratory
- ALS Global
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: The total Spargoville MRE shows exceptional growth in both tonnage and contained gold, despite a notable decrease in average grade, indicating a larger but lower-grade resource.
Positive factors
- Exceptional tonnage growth (183%)
- Exceptional contained metal growth (102%)
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Significant grade decline (28.5%)
Evidence · table
“8.5”
Context: 1.0
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: 8500000 against 3000000 previously
Grade Declinenegative
Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.
Why it applies: 1 against 1.4 previously
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: 281000 against 139000 previously
indicatedSpargoville Gold Project · goldTonnes: 300000Grade: 1Grade Unit: g/tContained Metal: 10000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Spargoville Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2025-05-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Job, Julie Reid
- Resource group id
- resource:83dd92016e7d620354a9
- Deposit or zone
- Wattle Dam Stockwork
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 300000
- Grade
- 1
- Grade Unit
- g/t
- Contained Metal
- 10000
- Contained Unit
- oz
- Cutoff Grade
- 0.39
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-05-01
Lab
- Laboratory
- ALS Global
Location
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-05-07T00:00:00.000Z
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: This is a historical Indicated resource for Wattle Dam Stockwork, unchanged from the May 2025 MRE, thus having low novelty.
Positive factors
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Historical estimate, unchanged from prior MRE
Evidence · table
“0.3”
Context: 1.0
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredSpargoville Gold Project · goldTonnes: 0Grade: 5Grade Unit: g/tContained Metal: 4000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Spargoville Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2025-05-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Job, Julie Reid
- Resource group id
- resource:ea1f1c077a671c3fdc11
- Deposit or zone
- Wattle Dam Stockwork
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 0
- Grade
- 5
- Grade Unit
- g/t
- Contained Metal
- 4000
- Contained Unit
- oz
- Cutoff Grade
- 0.39
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-05-01
Lab
- Laboratory
- ALS Global
Location
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-05-07T00:00:00.000Z
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: This is a historical Inferred resource for Wattle Dam Stockwork, unchanged from the May 2025 MRE, with very small tonnage.
Positive factors
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Historical estimate, unchanged from prior MRE
- Inferred category has lower geological confidence
- Very small tonnage
Evidence · table
“0.0”
Context: 5.0
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Wattle Dam StockworkSpargoville Gold Project · goldTonnes: 300000Grade: 1.4Grade Unit: g/tContained Metal: 15000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Spargoville Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2025-05-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Job, Julie Reid
- Resource group id
- resource:07fbd3ddb65291095486
- Deposit or zone
- Wattle Dam Stockwork
- Ownership percent
- 100 %
Resource Data
- Tonnes
- 300000
- Grade
- 1.4
- Grade Unit
- g/t
- Contained Metal
- 15000
- Contained Unit
- oz
- Cutoff Grade
- 0.39
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-05-01
Lab
- Laboratory
- ALS Global
Location
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-05-07T00:00:00.000Z
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: This is a historical total resource for Wattle Dam Stockwork, unchanged from the May 2025 MRE, thus having low novelty.
Positive factors
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Historical estimate, unchanged from prior MRE
Evidence · table
“0.3”
Context: 1.4
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedSpargoville Gold Project · goldTonnes: 2800000Grade: 1.2Grade Unit: g/tContained Metal: 106000Contained Unit: ozView all detailsHide details
Identity
- Project
- Spargoville Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Job, Julie Reid
- Resource group id
- resource:2a84af2e83c6e8114f70
- Deposit or zone
- Spiders
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 2800000
- Grade
- 1.2
- Grade Unit
- g/t
- Contained Metal
- 106000
- Contained Unit
- oz
- Cutoff Grade
- 0.4
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-10-01
Lab
- Laboratory
- ALS Global
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: The Indicated resource for Spiders is a significant component of the updated MRE with a good grade.
Positive factors
- Good grade for open pit mining
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Evidence · table
“2.8”
Context: 1.2
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredSpargoville Gold Project · goldTonnes: 2800000Grade: 0.8Grade Unit: g/tContained Metal: 71000Contained Unit: ozView all detailsHide details
Identity
- Project
- Spargoville Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Job, Julie Reid
- Resource group id
- resource:f7ee114ca5db28b8d21a
- Deposit or zone
- Spiders
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 2800000
- Grade
- 0.8
- Grade Unit
- g/t
- Contained Metal
- 71000
- Contained Unit
- oz
- Cutoff Grade
- 0.4
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-10-01
Lab
- Laboratory
- ALS Global
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: The Inferred resource for Spiders contributes to the overall contained gold but represents a lower confidence category.
Positive factors
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Inferred category has lower geological confidence
Evidence · table
“2.8”
Context: 0.8
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
SpidersSpargoville Gold Project · goldTonnes: 5500000Grade: 1Grade Unit: g/tContained Metal: 177000Contained Unit: ozView all detailsHide details
Identity
- Project
- Spargoville Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Job, Julie Reid
- Resource group id
- resource:38432d0520189263c90c
- Deposit or zone
- Spiders
- Ownership percent
- 100 %
Resource Data
- Tonnes
- 5500000
- Grade
- 1
- Grade Unit
- g/t
- Contained Metal
- 177000
- Contained Unit
- oz
- Cutoff Grade
- 0.4
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-10-01
Lab
- Laboratory
- ALS Global
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Spiders represents the largest and a significant portion of the updated Spargoville MRE.
Positive factors
- Largest accumulation of Mineral Resources within Spargoville
- Good grade for open pit mining
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Evidence · table
“5.5”
Context: 1.0
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedSpargoville Gold Project · goldTonnes: 800000Grade: 0.8Grade Unit: g/tContained Metal: 20000Contained Unit: ozView all detailsHide details
Identity
- Project
- Spargoville Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Job, Julie Reid
- Resource group id
- resource:2e77d567e8394d93bdea
- Deposit or zone
- 8500N
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 800000
- Grade
- 0.8
- Grade Unit
- g/t
- Contained Metal
- 20000
- Contained Unit
- oz
- Cutoff Grade
- 0.4
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-10-01
Lab
- Laboratory
- ALS Global
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: The Indicated resource for 8500N contributes to the updated MRE with an economic grade for open pit mining.
Positive factors
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Evidence · table
“0.8”
Context: 0.8
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredSpargoville Gold Project · goldTonnes: 200000Grade: -53Grade Unit: g/tContained Metal: 7000Contained Unit: ozView all detailsHide details
Identity
- Project
- Spargoville Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Job, Julie Reid
- Resource group id
- resource:8c5026b4742ac0bd3324
- Deposit or zone
- 8500N
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 200000
- Grade
- -53
- Grade Unit
- g/t
- Contained Metal
- 7000
- Contained Unit
- oz
- Cutoff Grade
- 0.4
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-10-01
Lab
- Laboratory
- ALS Global
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: The Inferred resource for 8500N is a small component of the updated MRE with lower confidence.
Positive factors
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Inferred category has lower geological confidence
- Small tonnage
Evidence · table
“-53%”
Context: 0.2
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
8500NSpargoville Gold Project · goldTonnes: 1000000Grade: 0.8Grade Unit: g/tContained Metal: 26000Contained Unit: ozView all detailsHide details
Identity
- Project
- Spargoville Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Job, Julie Reid
- Resource group id
- resource:daf0b04136ed36c3420e
- Deposit or zone
- 8500N
- Ownership percent
- 100 %
Resource Data
- Tonnes
- 1000000
- Grade
- 0.8
- Grade Unit
- g/t
- Contained Metal
- 26000
- Contained Unit
- oz
- Cutoff Grade
- 0.4
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-10-01
Lab
- Laboratory
- ALS Global
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: The total resource for 8500N contributes to the updated MRE with an economic grade for open pit mining.
Positive factors
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Evidence · table
“1.0”
Context: 0.8
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedSpargoville Gold Project · goldTonnes: 600000Grade: -35Grade Unit: g/tContained Metal: 23000Contained Unit: ozView all detailsHide details
Identity
- Project
- Spargoville Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Job, Julie Reid
- Resource group id
- resource:43dc02700cced7064a2e
- Deposit or zone
- Eagles Nest
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 600000
- Grade
- -35
- Grade Unit
- g/t
- Contained Metal
- 23000
- Contained Unit
- oz
- Cutoff Grade
- 0.4
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-10-01
Lab
- Laboratory
- ALS Global
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: The Indicated resource for Eagles Nest is a significant component of the updated MRE with a good grade.
Positive factors
- Good grade for open pit mining
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Evidence · table
“-35%”
Context: 0.6
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredSpargoville Gold Project · goldTonnes: 200000Grade: 0.9Grade Unit: g/tContained Metal: 7000Contained Unit: ozView all detailsHide details
Identity
- Project
- Spargoville Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Job, Julie Reid
- Resource group id
- resource:483ae9a0e932f1385ecf
- Deposit or zone
- Eagles Nest
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 200000
- Grade
- 0.9
- Grade Unit
- g/t
- Contained Metal
- 7000
- Contained Unit
- oz
- Cutoff Grade
- 0.4
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-10-01
Lab
- Laboratory
- ALS Global
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: The Inferred resource for Eagles Nest is a small component of the updated MRE with lower confidence.
Positive factors
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Inferred category has lower geological confidence
- Small tonnage
Evidence · table
“0.2”
Context: 0.9
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Eagles NestSpargoville Gold Project · goldTonnes: 800000Grade: 1.1Grade Unit: g/tContained Metal: 30000Contained Unit: ozView all detailsHide details
Identity
- Project
- Spargoville Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Job, Julie Reid
- Resource group id
- resource:747a1178d0d391c73465
- Deposit or zone
- Eagles Nest
- Ownership percent
- 100 %
Resource Data
- Tonnes
- 800000
- Grade
- 1.1
- Grade Unit
- g/t
- Contained Metal
- 30000
- Contained Unit
- oz
- Cutoff Grade
- 0.4
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-10-01
Lab
- Laboratory
- ALS Global
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: The total resource for Eagles Nest contributes significantly to the updated MRE with a good grade.
Positive factors
- Good grade for open pit mining
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Evidence · table
“0.8”
Context: 1.1
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedSpargoville Gold Project · goldTonnes: 200000Grade: 1.8Grade Unit: g/tContained Metal: 11000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Spargoville Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2025-05-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Job, Julie Reid
- Resource group id
- resource:73a43a28deb15b62adf4
- Deposit or zone
- Larkinville
- Ownership percent
- 75 %
Resource Data
- Category
- indicated
- Tonnes
- 200000
- Grade
- 1.8
- Grade Unit
- g/t
- Contained Metal
- 11000
- Contained Unit
- oz
- Cutoff Grade
- 0.39
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-05-01
Lab
- Laboratory
- ALS Global
Location
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-05-07T00:00:00.000Z
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: This is a historical Indicated resource for Larkinville, unchanged from the May 2025 MRE, thus having low novelty.
Positive factors
- Good grade for open pit mining
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Historical estimate, unchanged from prior MRE
Evidence · table
“0.2”
Context: 1.8
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredSpargoville Gold Project · goldTonnes: 0Grade: 1Grade Unit: g/tContained Metal: 1000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Spargoville Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2025-05-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Job, Julie Reid
- Resource group id
- resource:a6c6a1358765b9a84fb5
- Deposit or zone
- Larkinville
- Ownership percent
- 75 %
Resource Data
- Category
- inferred
- Tonnes
- 0
- Grade
- 1
- Grade Unit
- g/t
- Contained Metal
- 1000
- Contained Unit
- oz
- Cutoff Grade
- 0.39
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-05-01
Lab
- Laboratory
- ALS Global
Location
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-05-07T00:00:00.000Z
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: This is a historical Inferred resource for Larkinville, unchanged from the May 2025 MRE, with very small tonnage.
Positive factors
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Historical estimate, unchanged from prior MRE
- Inferred category has lower geological confidence
- Very small tonnage
Evidence · table
“0.0”
Context: 1.0
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
LarkinvilleSpargoville Gold Project · goldTonnes: 200000Grade: 1.7Grade Unit: g/tContained Metal: 12000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Spargoville Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2025-05-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Job, Julie Reid
- Resource group id
- resource:55ab9ed1f6f01f622fea
- Deposit or zone
- Larkinville
- Ownership percent
- 75 %
Resource Data
- Tonnes
- 200000
- Grade
- 1.7
- Grade Unit
- g/t
- Contained Metal
- 12000
- Contained Unit
- oz
- Cutoff Grade
- 0.39
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-05-01
Lab
- Laboratory
- ALS Global
Location
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-05-07T00:00:00.000Z
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: This is a historical total resource for Larkinville, unchanged from the May 2025 MRE, thus having low novelty.
Positive factors
- Good grade for open pit mining
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Historical estimate, unchanged from prior MRE
Evidence · table
“0.2”
Context: 1.7
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedSpargoville Gold Project · goldTonnes: 200000Grade: 1.1Grade Unit: g/tContained Metal: 8000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Spargoville Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2025-05-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Job, Julie Reid
- Resource group id
- resource:cc9fd7c446ddbef5c0b2
- Deposit or zone
- Hilditch
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 200000
- Grade
- 1.1
- Grade Unit
- g/t
- Contained Metal
- 8000
- Contained Unit
- oz
- Cutoff Grade
- 0.39
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-05-01
Lab
- Laboratory
- ALS Global
Location
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-05-07T00:00:00.000Z
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: This is a historical Indicated resource for Hilditch, unchanged from the May 2025 MRE, thus having low novelty.
Positive factors
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Historical estimate, unchanged from prior MRE
Evidence · table
“0.2”
Context: 1.1
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredSpargoville Gold Project · goldTonnes: 100000Grade: 1.7Grade Unit: g/tContained Metal: 7000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Spargoville Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2025-05-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Job, Julie Reid
- Resource group id
- resource:a01f0f5fe1e49daae4c7
- Deposit or zone
- Hilditch
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 100000
- Grade
- 1.7
- Grade Unit
- g/t
- Contained Metal
- 7000
- Contained Unit
- oz
- Cutoff Grade
- 0.39
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-05-01
Lab
- Laboratory
- ALS Global
Location
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-05-07T00:00:00.000Z
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: This is a historical Inferred resource for Hilditch, unchanged from the May 2025 MRE, with small tonnage.
Positive factors
- Good grade for open pit mining
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Historical estimate, unchanged from prior MRE
- Inferred category has lower geological confidence
- Small tonnage
Evidence · table
“0.1”
Context: 1.7
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
HilditchSpargoville Gold Project · goldTonnes: 400000Grade: 1.3Grade Unit: g/tContained Metal: 15000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Spargoville Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2025-05-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Job, Julie Reid
- Resource group id
- resource:26a60c49a59ae1af2650
- Deposit or zone
- Hilditch
- Ownership percent
- 100 %
Resource Data
- Tonnes
- 400000
- Grade
- 1.3
- Grade Unit
- g/t
- Contained Metal
- 15000
- Contained Unit
- oz
- Cutoff Grade
- 0.39
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-05-01
Lab
- Laboratory
- ALS Global
Location
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-05-07T00:00:00.000Z
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: This is a historical total resource for Hilditch, unchanged from the May 2025 MRE, thus having low novelty.
Positive factors
- Good grade for open pit mining
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Historical estimate, unchanged from prior MRE
Evidence · table
“0.4”
Context: 1.3
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedSpargoville Gold Project · goldTonnes: 100000Grade: 1.4Grade Unit: g/tContained Metal: 7000Contained Unit: ozView all detailsHide details
Identity
- Project
- Spargoville Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Job, Julie Reid
- Resource group id
- resource:9a6c7f78cc8d638f5cbb
- Deposit or zone
- 5B
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 100000
- Grade
- 1.4
- Grade Unit
- g/t
- Contained Metal
- 7000
- Contained Unit
- oz
- Cutoff Grade
- 0.4
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-10-01
Lab
- Laboratory
- ALS Global
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: The Indicated resource for 5B is a new component of the updated MRE with a good grade.
Positive factors
- Good grade for open pit mining
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Evidence · table
“1.4”
Context: 0.1
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredSpargoville Gold Project · goldTonnes: 0Grade: 0.7Grade Unit: g/tContained Metal: 0Contained Unit: ozView all detailsHide details
Identity
- Project
- Spargoville Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Job, Julie Reid
- Resource group id
- resource:81e1e011c1bb7dd614d1
- Deposit or zone
- 5B
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 0
- Grade
- 0.7
- Grade Unit
- g/t
- Contained Metal
- 0
- Contained Unit
- oz
- Cutoff Grade
- 0.4
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-10-01
Lab
- Laboratory
- ALS Global
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: The Inferred resource for 5B is a very small component of the updated MRE with lower confidence.
Positive factors
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Inferred category has lower geological confidence
- Very small tonnage and contained metal
Evidence · table
“0.0”
Context: 0.7
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
5BSpargoville Gold Project · goldTonnes: 200000Grade: 1.3Grade Unit: g/tContained Metal: 7000Contained Unit: ozView all detailsHide details
Identity
- Project
- Spargoville Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Job, Julie Reid
- Resource group id
- resource:be8f5ea78f89b414aac5
- Deposit or zone
- 5B
- Ownership percent
- 100 %
Resource Data
- Tonnes
- 200000
- Grade
- 1.3
- Grade Unit
- g/t
- Contained Metal
- 7000
- Contained Unit
- oz
- Cutoff Grade
- 0.4
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-10-01
Lab
- Laboratory
- ALS Global
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: The total resource for 5B is a new component of the updated MRE with a good grade.
Positive factors
- Good grade for open pit mining
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Evidence · table
“0.2”
Context: 1.3
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
measuredMandilla · goldTonnes: 1300000Grade: 1.3Grade Unit: g/tContained Metal: 57000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mandilla
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-04-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Julie Reid
- Resource group id
- resource:b99da92915d01d6f757b
Resource Data
- Category
- measured
- Tonnes
- 1300000
- Grade
- 1.3
- Grade Unit
- g/t
- Contained Metal
- 57000
- Contained Unit
- oz
- Cutoff Grade
- 0.4
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-04-21
Location
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2026-04-21T00:00:00.000Z
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: This is a historical Measured resource for Mandilla, previously announced, providing high confidence but low novelty in this release.
Positive factors
- Highest confidence category
- Good grade for open pit mining
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Historical estimate, not new information in this release
Evidence · table
“1.3”
Context: 1.3
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedMandilla · goldTonnes: 32600000Grade: 1Grade Unit: g/tContained Metal: 1092000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mandilla
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-04-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Julie Reid
- Resource group id
- resource:b940c27fb0fdc0120d30
Resource Data
- Category
- indicated
- Tonnes
- 32600000
- Grade
- 1
- Grade Unit
- g/t
- Contained Metal
- 1092000
- Contained Unit
- oz
- Cutoff Grade
- 0.4
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-04-21
Location
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2026-04-21T00:00:00.000Z
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: This is a historical Indicated resource for Mandilla, previously announced, providing good confidence but low novelty in this release.
Positive factors
- Good grade for open pit mining
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Historical estimate, not new information in this release
Evidence · table
“32.6”
Context: 1.0
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredMandilla · goldTonnes: 19600000Grade: 0.9Grade Unit: g/tContained Metal: 588000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mandilla
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-04-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Julie Reid
- Resource group id
- resource:c648134ee05b9367fece
Resource Data
- Category
- inferred
- Tonnes
- 19600000
- Grade
- 0.9
- Grade Unit
- g/t
- Contained Metal
- 588000
- Contained Unit
- oz
- Cutoff Grade
- 0.4
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-04-21
Location
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2026-04-21T00:00:00.000Z
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: This is a historical Inferred resource for Mandilla, previously announced, contributing to the overall resource but with lower confidence and novelty.
Positive factors
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Historical estimate, not new information in this release
- Inferred category has lower geological confidence
Evidence · table
“19.6”
Context: 0.9
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Fact 28Mandilla · goldTonnes: 53500000Grade: 1Grade Unit: g/tContained Metal: 1736000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mandilla
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-04-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Julie Reid
- Resource group id
- resource:ab6dc2de4196346d183d
Resource Data
- Tonnes
- 53500000
- Grade
- 1
- Grade Unit
- g/t
- Contained Metal
- 1736000
- Contained Unit
- oz
- Cutoff Grade
- 0.4
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-04-21
- Prior Contained Metal
- 1740000
Location
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2026-04-21T00:00:00.000Z
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: This is a historical total resource for Mandilla, previously announced, representing a significant asset but with low novelty in this release.
Positive factors
- Large contained gold
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Historical estimate, not new information in this release
Evidence · table
“53.5”
Context: 1.0
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Contained Metal Declinenegative
Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.
Why it applies: 1736000 against 1740000 previously
indicatedFeysville · goldTonnes: 3500000Grade: 1.3Grade Unit: g/tContained Metal: 144000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Feysville
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2024-11-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Julie Reid
- Resource group id
- resource:86792e0fff5cba60be88
Resource Data
- Category
- indicated
- Tonnes
- 3500000
- Grade
- 1.3
- Grade Unit
- g/t
- Contained Metal
- 144000
- Contained Unit
- oz
- Cutoff Grade
- 0.39
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2024-11-01
- Prior Tonnes
- 4000000
- Prior Grade
- 1.3
- Prior Contained Metal
- 144000
Location
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2024-11-01T00:00:00.000Z
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: This is a historical Indicated resource for Feysville, previously announced, providing good confidence but low novelty in this release.
Positive factors
- Good grade for open pit mining
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Historical estimate, not new information in this release
Evidence · table
“1.3”
Context: 3.5
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Tonnage Declinenegative
Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down.
Why it applies: 3500000 against 4000000 previously
inferredFeysville · goldTonnes: 1500000Grade: 1.1Grade Unit: g/tContained Metal: 53000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Feysville
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2024-11-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Julie Reid
- Resource group id
- resource:c77de4f73e1b0bed9b28
Resource Data
- Category
- inferred
- Tonnes
- 1500000
- Grade
- 1.1
- Grade Unit
- g/t
- Contained Metal
- 53000
- Contained Unit
- oz
- Cutoff Grade
- 0.39
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2024-11-01
- Prior Tonnes
- 1000000
- Prior Grade
- 1.1
- Prior Contained Metal
- 53000
Location
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2024-11-01T00:00:00.000Z
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: This is a historical Inferred resource for Feysville, previously announced, contributing to the overall resource but with lower confidence and novelty.
Positive factors
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Historical estimate, not new information in this release
- Inferred category has lower geological confidence
Evidence · table
“1.1”
Context: 1.5
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: 1500000 against 1000000 previously
Dilutive Growthnegative
Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.
Why it applies: tonnage rose while contained metal went 53000 from 53000
Fact 31Feysville · goldTonnes: 5000000Grade: 1.2Grade Unit: g/tContained Metal: 196000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Feysville
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2024-11-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Julie Reid
- Resource group id
- resource:2cf16d1f3e936b308863
Resource Data
- Tonnes
- 5000000
- Grade
- 1.2
- Grade Unit
- g/t
- Contained Metal
- 196000
- Contained Unit
- oz
- Cutoff Grade
- 0.39
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2024-11-01
- Prior Tonnes
- 5000000
- Prior Grade
- 1.2
- Prior Contained Metal
- 196000
Location
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2024-11-01T00:00:00.000Z
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: This is a historical total resource for Feysville, previously announced, representing a significant asset but with low novelty in this release.
Positive factors
- Good grade for open pit mining
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Historical estimate, not new information in this release
Evidence · table
“5.0”
Context: 1.2
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
measuredConsolidated Group · goldTonnes: 1300000Grade: 1.3Grade Unit: g/tContained Metal: 57000Contained Unit: ozView all detailsHide details
Identity
- Project
- Consolidated Group
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Job, Julie Reid
- Resource group id
- resource:7481ccd067422d048601
Resource Data
- Category
- measured
- Tonnes
- 1300000
- Grade
- 1.3
- Grade Unit
- g/t
- Contained Metal
- 57000
- Contained Unit
- oz
- Cutoff Grade
- 0.4
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-10-01
Lab
- Laboratory
- ALS Global
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: The Measured resource for the consolidated group is a high-confidence component, though it is a restatement of prior Mandilla MRE.
Positive factors
- Highest confidence category
- Good grade for open pit mining
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Evidence · table
“1.3”
Context: 1.3
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedConsolidated Group · goldTonnes: 41200000Grade: 1.1Grade Unit: g/tContained Metal: 1422000Contained Unit: ozView all detailsHide details
Identity
- Project
- Consolidated Group
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Job, Julie Reid
- Resource group id
- resource:d9e668163f204163e959
Resource Data
- Category
- indicated
- Tonnes
- 41200000
- Grade
- 1.1
- Grade Unit
- g/t
- Contained Metal
- 1422000
- Contained Unit
- oz
- Cutoff Grade
- 0.4
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-10-01
Lab
- Laboratory
- ALS Global
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: The consolidated Indicated resource is a large and significant component of the group's total MRE, with good grade.
Positive factors
- Large Indicated resource
- Good grade for open pit mining
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Evidence · table
“41.2”
Context: 1.1
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredConsolidated Group · goldTonnes: 24500000Grade: 0.9Grade Unit: g/tContained Metal: 735000Contained Unit: ozView all detailsHide details
Identity
- Project
- Consolidated Group
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Job, Julie Reid
- Resource group id
- resource:0c6f4023fde5e8a570f0
Resource Data
- Category
- inferred
- Tonnes
- 24500000
- Grade
- 0.9
- Grade Unit
- g/t
- Contained Metal
- 735000
- Contained Unit
- oz
- Cutoff Grade
- 0.4
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-10-01
Lab
- Laboratory
- ALS Global
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: The consolidated Inferred resource contributes to the overall contained gold but represents a lower confidence category.
Positive factors
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Inferred category has lower geological confidence
Evidence · table
“24.5”
Context: 0.9
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Fact 35Consolidated Group · goldTonnes: 67000000Grade: 1Grade Unit: g/tContained Metal: 2214000Contained Unit: ozView all detailsHide details
Identity
- Project
- Consolidated Group
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-01T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Job, Julie Reid
- Resource group id
- resource:95b9db2b0c81bfb2b0bd
Resource Data
- Tonnes
- 67000000
- Grade
- 1
- Grade Unit
- g/t
- Contained Metal
- 2214000
- Contained Unit
- oz
- Cutoff Grade
- 0.4
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-10-01
Lab
- Laboratory
- ALS Global
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: The consolidated total MRE for Astral Group shows a significant gold endowment with good grade, reflecting the updated Spargoville MRE.
Positive factors
- Large total contained gold (2.21Moz)
- Good grade for open pit mining
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Evidence · table
“67.0”
Context: 1.0
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
probableMandilla · goldTonnes: 34300000Grade: 0.9Grade Unit: g/tContained Metal: 1000000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mandilla
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-06-25T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Julie Reid
- Resource group id
- resource:567ee5d5edfa9a0d29a4
Resource Data
- Category
- probable
- Tonnes
- 34300000
- Grade
- 0.9
- Grade Unit
- g/t
- Contained Metal
- 1000000
- Contained Unit
- oz
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-06-25
Location
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-06-25T00:00:00.000Z
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: This is a historical Probable Reserve for Mandilla, previously announced, indicating economic viability but with low novelty in this release.
Positive factors
- Probable Reserve indicates economic viability
- Large contained gold
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Historical estimate, not new information in this release
Evidence · table
“34.3”
Context: 0.9
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Fact 37Mandilla · goldTonnes: 34300000Grade: 0.9Grade Unit: g/tContained Metal: 1000000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mandilla
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-06-25T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Julie Reid
- Resource group id
- resource:6a2edeac67800bedbe4d
Resource Data
- Tonnes
- 34300000
- Grade
- 0.9
- Grade Unit
- g/t
- Contained Metal
- 1000000
- Contained Unit
- oz
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-06-25
Location
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-06-25T00:00:00.000Z
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: This is a historical total Reserve for Mandilla, previously announced, indicating economic viability but with low novelty in this release.
Positive factors
- Total Reserve indicates economic viability
- Large contained gold
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Historical estimate, not new information in this release
Evidence · table
“34.3”
Context: 0.9
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
probableFeysville · goldTonnes: 2300000Grade: 1.2Grade Unit: g/tContained Metal: 88000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Feysville
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-06-25T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Julie Reid
- Resource group id
- resource:96bf94463decf689d6af
Resource Data
- Category
- probable
- Tonnes
- 2300000
- Grade
- 1.2
- Grade Unit
- g/t
- Contained Metal
- 88000
- Contained Unit
- oz
- Cutoff Grade
- 0.4
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-06-25
Location
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-06-25T00:00:00.000Z
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: This is a historical Probable Reserve for Feysville, previously announced, indicating economic viability but with low novelty in this release.
Positive factors
- Probable Reserve indicates economic viability
- Good grade for open pit mining
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Historical estimate, not new information in this release
Evidence · table
“2.3”
Context: 1.2
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Fact 39Feysville · goldTonnes: 2300000Grade: 1.2Grade Unit: g/tContained Metal: 88000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Feysville
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-06-25T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Julie Reid
- Resource group id
- resource:321f470ba9a6e3025193
Resource Data
- Tonnes
- 2300000
- Grade
- 1.2
- Grade Unit
- g/t
- Contained Metal
- 88000
- Contained Unit
- oz
- Cutoff Grade
- 0.4
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-06-25
Location
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-06-25T00:00:00.000Z
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: This is a historical total Reserve for Feysville, previously announced, indicating economic viability but with low novelty in this release.
Positive factors
- Total Reserve indicates economic viability
- Good grade for open pit mining
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Historical estimate, not new information in this release
Evidence · table
“2.3”
Context: 1.2
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
probableConsolidated Group · goldTonnes: 36600000Grade: 0.9Grade Unit: g/tContained Metal: 1082000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Consolidated Group
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-06-25T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Julie Reid
- Resource group id
- resource:13a4f2513dc0fbf059c3
Resource Data
- Category
- probable
- Tonnes
- 36600000
- Grade
- 0.9
- Grade Unit
- g/t
- Contained Metal
- 1082000
- Contained Unit
- oz
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-06-25
Location
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-06-25T00:00:00.000Z
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: This is a historical Probable Reserve for the consolidated group, previously announced, indicating economic viability but with low novelty in this release.
Positive factors
- Probable Reserve indicates economic viability
- Large contained gold
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Historical estimate, not new information in this release
Evidence · table
“36.6”
Context: 0.9
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Fact 41Consolidated Group · goldTonnes: 36600000Grade: 0.9Grade Unit: g/tContained Metal: 1082000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Consolidated Group
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-06-25T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Julie Reid
- Resource group id
- resource:52922bd55d2261a663cc
Resource Data
- Tonnes
- 36600000
- Grade
- 0.9
- Grade Unit
- g/t
- Contained Metal
- 1082000
- Contained Unit
- oz
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-06-25
Location
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-06-25T00:00:00.000Z
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: This is a historical total Reserve for the consolidated group, previously announced, indicating economic viability but with low novelty in this release.
Positive factors
- Total Reserve indicates economic viability
- Large contained gold
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Historical estimate, not new information in this release
Evidence · table
“36.6”
Context: 0.9
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Fact 42Testing AuthoritiesView all detailsHide details
Identity
- Project
- Testing Authorities
- Region
- australia
- Reported Region
- Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Resource group id
- resource:72cb06cccc5ec14713ff
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Explicit resource disclosure recovered from source prose.
Evidence · text
“The Mineral Resources are reported at a 0.40 g/t Au lower cut-off for Mandilla, Spiders, Eagles Nest, 8500N and 5B, and a 0.39g/t Au lower”
Tags used in scoring
Cut-off Lowerednegative
Cut-off grade significantly reduced vs prior estimate — tonnage growth may be artificial inflation.
Why it applies: The Mineral Resources are reported at a 0.40 g/t Au lower cut-off for Mandilla, Spiders, Eagles Nest, 8500N and 5B, and a 0.39g/t Au lower
Evidence · text
“The Mineral Resources are reported at a 0.40 g/t Au lower cut-off for Mandilla, Spiders, Eagles Nest, 8500N and 5B, and a 0.39g/t Au lower”
Context: Testing Authorities (NATA), Australia
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedMandilla · goldTonnes: 30600000Grade: 1.1Grade Unit: g/tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mandilla
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-04-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Julie Reid
- Resource group id
- resource:43c0fdf5e733eb971680
Resource Data
- Category
- indicated
- Tonnes
- 30600000
- Grade
- 1.1
- Grade Unit
- g/t
- Cutoff Grade
- 0.4
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-04-21
Location
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2026-04-21T00:00:00.000Z
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: This is a historical Indicated resource for Mandilla, previously announced, providing good confidence but low novelty in this release. (Expanded from portfolio resource summary table.)
Positive factors
- Good grade for open pit mining
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Historical estimate, not new information in this release
Evidence · table
“1.1”
Context: 30.6
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredMandilla · goldTonnes: 10900000Grade: 1.1Grade Unit: g/tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mandilla
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- AAR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-04-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Julie Reid
- Resource group id
- resource:d46ce6527f7d145d61ab
Resource Data
- Category
- inferred
- Tonnes
- 10900000
- Grade
- 1.1
- Grade Unit
- g/t
- Cutoff Grade
- 0.4
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-04-21
Location
- Loc. Confidence
- medium
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2026-04-21T00:00:00.000Z
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: This is a historical Inferred resource for Mandilla, previously announced, contributing to the overall resource but with lower confidence and novelty. (Expanded from portfolio resource summary table.)
Positive factors
- JORC 2012 compliant
- QP signed
- Cut-off grade disclosed
Negative factors
- Historical estimate, not new information in this release
- Inferred category has lower geological confidence
Evidence · table
“1.1”
Context: 10.9
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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.