Anglo Australian Resources NL announced to report an updated JORC compliant Mineral Resource Estimate (MRE) for its 100% owned Mandilla Gold Project located 70km south of Kalgoorlie, Western Australia. The MRE, which was prepared by independent consultants Cube Consulting in accordance with the JORC Code (2012 Edition), covers the Theia, Iris and Eos deposits and totals 24Mt at 1.0g/t Au for 784koz of contained gold. This is the third MRE published for Mandilla within eight months and provides strong encouragement that AAR can continue to grow its Resource inventory as it progresses its strategy to develop a longterm gold business in the Kalgoorlie region based on its Mandilla and Feysville Projects.

With 3,350 metres of diamond drilling and 10,260 metres of aircore drilling recently completed with assays pending, the Company is well placed to achieve further growth in the Mandilla MRE in 2022. The MRE was estimated using a 0.39 g/t Au cutoff and is constrained within pit shells using a gold price of AUD 2,500 per ounce (consistent with the maiden MRE). Theia is the main deposit at Mandilla and represents 84% of the reported MRE.

The total MRE at Theia is 19Mt at 1.1g/t Au for 658koz of contained gold. Since the August MRE, Theia has grown 17% on contained gold based largely on the inclusion of approximately 12,000 metres of new drilling. This demonstrates the potential to continue to grow the Mineral Resources at Theia with additional drilling.

There is currently 2,200 metres of diamond drilling completed in late 2021 at Theia which is yet to be logged and assayed. MDRCD191 returned significant zones of mineralization at depth, which notably included laminated gold bearing quartz veins. This mineralization is potentially representing a deeper higher grade shoot previously intersected in holes MDRCD230 (81.45 metres at 1.63g/t Au from 179.6m) and MDRCD377 (64.57 metres at 3.49g/t Au from 190m), which are located 90 metres and 260 meters to the north respectively.

More recent drill testing of the southeastern extension returned encouraging results, including: 17 meters at 1.43g/t Au from 108m in MDRC466; 34 meters at 1.46g/t Au from 64m and 28 meters at 1.23g/t Au from 118m in MDRC472; 61 metres at 1.14g/t Au from 77m and 10 meters at 3.36g/t Au from 59m in MDRC473; and 49 meters at 0.94g/t Au from 107m in MDRC476. The successful southeast extensional drilling has added significant Mineral Resources in this area allowing the pit optimization to drive further at depth to convert the previously unclassified mineralization from MDRC191 into Mineral Resources. Geotechnical hole MDGT007 is also annotated on this crosssection.

This hole is yet to be logged and submitted for assay; however, visible gold has been observed during summary logging. There is potential to identify further mineralization to the west of the current Mineral Resources as the area remains largely untested and is within the current optimised pit shell. The Mineral Resource at Iris is 4Mt at 0.8g/t Au for 115koz of contained gold.

Since the August MRE was reported an additional 3,000 metres of drilling has been included in the updated estimate. At Eos, previously identified mineralization was recently followed up with a modest RC drilling program consisting of 11 holes for 950 metres reported in August 2021. This successful program was expanded with a further 36 holes drilled for a total of 3,626 metres in December 2021.

A maiden Inferred Mineral Resource of 0.3Mt at 1.2g/t Au for 11koz of contained gold has been declared at Eos. The drilling at Eos is currently relatively wide spaced (40m x 40m). Further Resource definition drilling will be required to improve confidence and the resource classification.

Additionally, the higher-grade pale channel mineralization which has been intersected in several RC holes will require infill drilling to better define these high-grade pale channel zones. Potential remains to increase both the grade and scale of the Mineral Resources at Eos with additional drilling.