Aircore Drilling Extends Strike of +300koz Cork Tree Well Deposit for a Further 1.5km

Brightstar Resources Limited (ASX: BTR) (Brightstar) is pleased to announce that the assay results and interpretation from the recent aircore drilling program have been completed at Cork Tree Well (CTW) within the Laverton Gold Project (LGP). The 2,500m aircore program was drilled to the north of the existing mineral resource estimate at CTW in order to delineate target areas for further drill testing for resource growth.

HIGHLIGHTS

• Assays received for recent 2,500m aircore drilling program at Cork Tree Well
• The aircore program was designed to test for anomalous gold mineralisation along strike to the north of the main Cork Tree Well orebodies
• Results indicate that the prospective horizons that host Cork Tree Well are present and are mineralised for a further 1.5km of strike length to the north of M38/346, indicating a compelling extensional drill target
• The current Cork Tree Well Mineral Resource Estimate (MRE) of 303koz @ 1.4g/t Au is open at depth and now along strike, representing significant potential for resource extensions
• Pre-Feasibility Study work streams are underway, with infill and extensional drilling programs including geotechnical and metallurgical holes planned for Q1 2024

We are looking forward to getting the aircore rig back out there with a follow up drill program to tighten up the spacings between the recently drilled lines to better refine deeper RC drilling targets and gain further insight into the northerly extension of the mine geology corridor which is exposed within the Cork Tree Well pits.

Down at the Menzies Gold Project, Brightstar will be kicking off an RC drilling campaign at the Aspacia prospect later this month, following up the high-grade mineralisation (up to 40g/t Au) intersected in our mid-year RC drilling program. We see real potential to delineate and declare a high-grade maiden MRE at Aspacia to potentially add into the mine plan currently being advanced in the pre-feasibility study underway.”

Figure 1 - CTW Max Gold in Hole (AC and RAB drilling shown) with CTW mine geology corridor extension

Figure 2 - BTR 2023 CTW North Aircore collars and CTW Mineral Resource shapes (in pink)

CTW North Target Area – Technical Discussion

The target area is located along strike of the CTW main lodes and covered approximately 3km of previously poorly tested prospective terrain. Like the CTW main area, this zone is composed of Archaean mafic/ultramafic and sedimentary sequences struck through with intermediate to felsic intrusive material and rare Proterozoic mafic dykes.

Drillhole lines as well as the dip of individual drillholes were designed orthogonal to the interpreted strike (164 degrees) of the country rock/structural elements, with holes drilled at -60° towards 254°. Brightstar’s previously reported1 Sub-Audio Magnetics (SAM) survey indicated significant connectivity along broadly north-south features in the CTW North project area that are interpreted as zones of shearing parallel to the broad strike of the rock package. All major structural trends not previously tested by widely spaced historic aircore drilling were investigated by this program to provide a comprehensive test of the prospective mineralised sequences.

The cover sequence in this area was anticipated to be relatively shallow. Regolith conditions across drill lines were variable with deeply weathered zones encountered as well as minimal recent cover and thin to absent in situ regolith in many cases. Bedrock lithologies intersected were mainly mafic to ultramafic (including high and low magnesian basalts), granitic to porphyritic material along with sedimentary (SIF and chert) sequences.

Results received, including analysis of historic aircore drilling, indicates that there is a coherent zone of bedrock mineralisation anomalism to the north of CTW, with an approximately 1.5-2km long zone of anomalism that is associated with the same geological sequence (sedimentary unit and mafic/UM contact) that hosts the main CTW ore bodies.

Due to the results received, further follow up aircore drilling and future RC drilling is being planned to follow up the anomalism interpreted at CTW North, with tighter spacing of drillholes being planned to better resolve anomalies and provide more detailed information on the size and shape of these mineralised systems.

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