FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

Brightstar’s Menzies Drilling Reveals High-Grade Gold Potential

8 August 2023 15:16

Brightstar Resources Limited (ASX: BTR) has announced the results from the remaining 18 holes of its inaugural RC drilling program at the Menzies Gold Project in Western Australia, returning numerous high-grade gold intersections from the Aspacia prospect and the Lady Shenton-Lady Harriet “Link Zone”.

High-Grade Hits at Aspacia

Drilling at Aspacia aimed to test strike extensions of the prospect’s Main Lode and the West Lode along strike of and downdip to previous drilling intercepts and historical mining records with assays returning several high-grade gold intersections, including:

  • 1m @ 16.16g/t Au, within 4m @ 4.79g/t Au from 112m (MGPRC025)
  • 1m @ 6.13g/t Au from 89m (MGPRC026)
  • 4m @ 2.45g/t Au from 96m, including 1m @ 6.85g/t Au (MGPRC025)
  • 3m @ 2.92g/t Au from 29m, including 1m @ 6.44g/t Au (MGPRC018)
  • 2m @ 4.16g/t Au from 35m (MGPRC017)
MqVu0w9QZFE3U5EB?auto=format%2Ccompress&fit=max&h=800&q=75&s=b37c101aecf7c923036ac72ce5e1a375

Figure 1: 2023 BTR Drilling overlain on Aspacia underground (UG) workings projected to surface

These results confirm the geological model and indicate a potential strike extent of over 500 metres of high-grade mineralisation, open both at depth and along strike, with 18 of 19 holes hitting +2.0g/t Au mineralisation which is typical of underground resource cut-off grades

The presence of multiple lodes in close proximity and the high-grade nature of the mineralisation support the need for further drilling to potentially delineate a high-grade Mineral Resource Estimate for the Aspacia Prospect.

Shallow Gold Mineralisation at the “Link Zone”

Drilling at the Lady Shenton-Lady Harriet “Link Zone” program meanwhile designed to target shallow gold mineralisation suitable for open pit mining scenarios in an area between the historically mined Lady Shenton and Lady Harriet systems, with the shallow eight-hole program returning Notable intersections Including:

  • 1m @ 13.95g/t Au from 45m (MGPRC036)
  • 4m @ 3.21g/t Au from 40m (MGPRC034)
  • 3m @ 4.29g/t Au from 45m (MGPRC037)
  • 4m @ 1.99g/t Au from 54m (MGPRC038)

The campaign focused on three distinct lodes/zones – Westralian Menzies, Merriyulah, and Golden Dicks identified by Brightstar’s technical team as having the potential to host shallow gold mineralisation, predominantly in the form of oxide material suitable for open-pit mining scenarios.

Iyqs8juSSVyOQzdG?auto=format%2Ccompress&fit=max&h=800&q=75&s=e8bdc08bb4ecd5acc54469610bcf5a8d

Figure 6: “Link Zone” showing spatial locations of Westralian Menzies (west), Merriyulah (centre) and Golden Dicks (east)

Results indicated the presence of shallow, near-surface mineralisation with the potential for readily extractable resources using bulk mining open-pit methods. Follow-up drilling is warranted in the Merriyulah area, which has displayed similarities to the nearby Stirling deposit, indicating further exploration potential.

Future Prospects

Brightstar’s geology team is currently planning follow-up RC drilling programs at Aspacia and the Link Zone to build sufficient confidence in geological models and potentially delineate Mineral Resource Estimates.

Additionally, diamond drilling programs are contemplated from Q4 to provide advanced geotechnical, metallurgical, and geological information for feasibility study purposes. These efforts align with the Company’s plans to release a Scoping Study by the end of August.

Brightstar will also continue exploration along the Menzies Northern Trend, targeting gold mineralisation along the Menzies Shear Zone between Lady Irene and Selkirk, as well as conducting greenfields exploration in the recently acquired Ardea tenements.

Moreover, the commencement of early-stage aircore drilling at the Cork Tree Well North Project and exploration of other regional greenfields targets are also on the horizon, with assays currently pending for ~2,000m RC campaign at Cork Tree.

Brightstar’s Managing Director, Alex Rovira, commented “We are pleased to receive the final assays from the Menzies Gold Project RC program, which tested and confirmed our understanding of certain mineralised systems at Menzies. Both targets in Aspacia and the Link Zone represent two compelling areas for further testing, with Aspacia representing high grade ‘Menzies style’ mineralisation around the historic underground mine, and the “Link Zone” presenting a great opportunity to explore for shallow oxide material which would be ideal for open pit mining scenarios with shallow, broader medium grade intercepts conducive to open pit mining methods.”

“Drilling results at Aspacia have confirmed our geological model and pleasingly increased the known strike and depth extents beyond the historic high-grade underground workings which were historically mined at +30g/t Au.”

BTR’s Australian Stock Exchange-listed share price is currently selling at 1.2c (1:55 pm UTC+ 8 hours).

MORE NEWS

The Market Bull Logo

FREE DAILY STOCK MARKET NEWS

Join our mailing list to receive the latest stock market news.

You have Successfully Subscribed!

Share This