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Brightstar Resources
Investor Insight
A gold-focused emerging gold producer with a clear pathway to production growth, Brightstar Resources presents a compelling investment case driven by its mining and development hubs strategy and a district-scale resource opportunity.
Overview
The price of gold stays strong. In April 2024, the yellow metal’s price passed US$2,400 per ounce for the first time. The reason is multifaceted. The world teeters on the brink of a severe recession while some markets attribute the increase to safe haven rush. Amidst ballooning interest rates, bank failures and falling bond yields, demand for gold continues to rise. At this precise moment, gold is simultaneously an excellent portfolio diversifier and a compelling hedge against ongoing inflation — particularly if one invests in the right company.
Brightstar Resources (ASX:BTR) aims to be that company. An emerging mining and development company, Brightstar occupies a strategic land position of roughly 1,200 square kilometers in the Sandstone Greenstone Belt, 300 square kilometers in the Laverton Tectonic Belt and 80 square kilometers of the Menzies Shear Zone.
The company also owns an existing processing facility that can potentially provide tremendous shareholder value in a low-capital cost restart scenario.
That plant, once fully refurbished and operational, could prove a key differentiator for the company, enabling fast gold production at a low capital cost. This is especially noteworthy given that many other gold companies trading on the ASX are largely focused on greenfield exploration and development. Even once those companies discover a promising resource, mining and processing facilities would still need to be built, undertakings which can incur significant upfront capital costs and take several years.
Brightstar's Laverton gold assets are all centered on a 100 percent-owned 300-square-kilometer tenure in the Laverton Tectonic Zone and all within 70 kilometers of the Laverton Processing Plant. Additionally, all resources within this zone are open along strike and at depth. Only minor drilling programs have been conducted in recent years, paving the way for significant exploration upside with the potential for further regional and greenfields discoveries.
Brightstar also owns 100 percent of the Menzies Gold Project, a contiguous land package of granted mining leases over a strike length of roughly 20 kilometers along the Menzies Shear Zone and adjacent to the Goldfields Highway.
In 2023 and 2024, the company announced a mineral resource upgrade to the Cork Tree Well deposit (Laverton gold project) and also delivered two maiden mineral resource estimates at the Link Zone and Aspacia deposits (Menzies gold project). This has grown the total group MRE by approximately 150 koz gold through organic exploration.
The company has also acquired 100 percent of the shares and options of Linden Gold Alliance, a gold producer, developer and explorer with existing mineral resources of 350 koz @ 2.1 g/t gold near Brightstar in the Laverton district. Brightstar’s MRE has reached 1.1 Moz gold across the Menzies and Laverton projects, with an additional 0.35 Moz gold in resources added after the successful acquisition of Linden Gold Alliance.
In August 2024, Brightstar entered into a scheme implementation deed to acquire 100 percent of Alto Metals (ASX:AME), which owns the Sandstone gold project located in East Murchison. The project has a current mineral resource of 1.05 Moz of gold at 1.5 g/t.
Brightstar also completed the acquisition of the gold rights at the Montague East gold project (MEGP) from Gateway Mining Limited (ASX:GML). The project is located 70 km from the Sandstone gold project. The acquisition adds a further 9.6 Mt @ 1.6 g/t gold for 0.5 Moz gold to Brightstar’s JORC Mineral Resource Estimate, giving the company a total mineral endowment of 38.3 Mt @ 1.6 g/t gold for 2.0 Moz gold.
The acquisition of the MGEP from Gateway Mining and 100 percent of Alto’s shares creates a third district-scale resource base for the company called the Sandstone Hub. Upon consolidation of the Laverton, Menzies and Sandstone hubs, Brightstar’s mineral resources would reach 3 Moz at 1.5g/t gold.
Subsequent to the deal with Alto Metals, Brightstar entered into a $4 million drill-for-equity agreement with Topdrill to aggressively advance the consolidated Sandstone gold project. The deal strengthens Brightstar's financial capacity to fulfill its multi-hub exploration and development strategy, which includes the Menzies, Laverton and Sandstone hubs.
Company Highlights
- Brightstar Resources is an ASX-listed mining and development company with more than 3 million ounces of gold resources and an on-site processing infrastructure across its project locations in Laverton, Menzies and Sandstone in Western Australia.
- Brightstar's mineral assets are situated across roughly 300 square kilometers of 100-percent-owned land in the Laverton Tectonic Zone and ~80 square kilometers in the high-grade Menzies Shear Zone.
- The Laverton Gold project has a mineral resource of 9.7 Mt @ 1.6 g/t gold for 511 koz gold and the Menzies gold project has 13.8 Mt @ 1.3g/t gold for 595 koz gold.
- In 2023, the company completed a scoping study into the development of its Menzies and Laverton gold projects and the refurbishment and restart of its processing plant in Laverton.
- In 2023 and 2024, Brightstar completed a small-scale mining joint venture with BML Ventures which involved a 50/50 profit-sharing agreement to exploit the Selkirk deposit at Menzies. In April 2024, Brightstar announced that this joint venture delivered a net profit to Brightstar of $6.5 million.
- In June 2024, the company successfully acquired all of the issued ordinary shares and options in Linden Gold Alliance, a gold producer, developer and explorer with existing mineral resources of 350 koz @ 2.1 g/t gold near Brightstar in the Laverton district.
- As part of the merger with Linden Gold, Brightstar released a scoping study into Linden’s development-ready Jasper Hills gold project, which delivered key metrics including:
- 140 koz mined over 3.75 years (35 koz pa)
- Net present value of AU$99 million
- Internal rate of return of 736 percent
- Pre-production capital requirements of $12 million
- All-in sustaining costs of AU$1,972/oz
- Jasper Hills is located just 50 km SE of Brightstar’s processing plant in the Laverton gold project
- Brightstar has recently completed the acquisition of the gold rights at the Montague East gold project (MEGP) from Gateway Mining Limited (ASX:GML), and has entered into an agreement to acquire Alto Metals (ASX:AME) further creating the company’s third district-scale resource base known as the Sandstone Hub.
- Brightstar plans to continue generating shareholder value through a combination of development and strategic acquisitions along with some exploration.
Key Projects
Laverton Hub
Brightstar’s Laverton hub is comprised of the Cork Tree Well, Beta and Alpha project areas with the addition of the Second Fortune gold mine and the Jasper Hills projects.
Highlights:
- Cork Tree Well, Alpha and Beta have current total JORC mineral resource estimate of 9.7 Mt @ 1.6 g/t gold for 511 koz (52 percent measured and indicated category). All mineral resources are on granted mining leases
- Cork Tree Well (6.4 Mt at 1.4 g/t gold for 303 koz gold)
- Alpha (1.4 Mt at 2.3 g/t gold for 106 koz gold)
- Beta (1.9 Mt at 1.7 g/t gold for 102 koz gold)
- Main project area Cork Tree Well is open at depth and along strike with recent drilling results of 34.4 meters at 7.94 g/t gold from 43.5 meters (CTWMET004) and 27.6 meters at 17.8 g/t gold from 51 m (CTWMET003)
- Second Fortune has a mineral resource estimate head grade of ~11g/t gold with an average ore body width of ~0.6 meters.
- Jasper Hills is located 50 km from Brightstar’s existing processing facility along a wholly-owned private haul road, allowing unimpeded, direct access to both projects
- Permitted, previously mined and production-ready
- Last mined by current owners in 2020 with 23,000 oz gold mined
- Scoping Study outcomes include:
- Pre-production capex of $12 million required (maximum capital drawdown)
- Open pit mine at Lord Byron and underground mine at Fish
- Production of 141 koz over four years (35 koz per annum)
- LOM EBITDA of $135 million (@ AU$3,000/oz)
Menzies Hub
The Menzies Hub comprises a tenement holding of a contiguous land package of granted mining leases over a strike length of more than 20 km. The majority of deposits hosted along the Menzies Shear Zone are located adjacent to Goldfields Highway in Menzies (130km north of Kalgoorlie).
Highlights:
- Total Current Resource: 13.7 Mt at 1.3 g/t gold for 595 koz gold (36 percent measured and indicated)
- September 2023 scoping study showed the simultaneous development of open pit mining at Lady Shenton system and underground mining at Yunndaga:
- 1.9 Mt @ 1.63 g/t Au (100 koz) in open pit mining at Lady Shenton
- 650 kt @ 2.91 g/t (60 koz) in underground mining at Yunndaga
- Low capex of $22 million
- Significant opportunities to find virgin discoveries and brownfields mineral resource growth:
Sandstone Hub
The consolidated Sandstone project is over 100 km from existing third-party milling operations in the Murchison. This third processing hub boasts Alto’s Sandstone project with a mineral resource of 1.05 Moz at 1.4 g/t gold and Gateway’s Montague gold project with a mineral resource of 0.5 Moz @ 1.6 g/t gold.
Brightstar aims to fast-track the development timetable through:
- A focused, multi-rig infill drill out to take the inferred mineralisation into measured and indicated status to underpin mining studies and project advancement
- The application of Brightstar’s dedicated in-house geological and mining engineering team to retain crucial project IP and fast-tracked mining studies;
Brightstar Processing Facility
Situated close to Brightstar's existing mineral assets at Laverton, the Brightstar Processing Plant provides the company with a considerable operational head start over its peers.
Highlights:
- Extensive Infrastructure: Current facilities at the plant include two ball mills, a power station and gravity and elution circuits. Other infrastructure includes:
- A tailings storage dam
- An on-site process water pond
- A 60-person accommodation camp
- An airstrip at the Cork Tree Well Project
- Vehicles and equipment include a forklift, bobcat, two loaders, multiple light vehicles and a 30-tonne crane.
- A Leg Up Over Competitors: The presence of pre-existing processing infrastructure represents significant time savings compared to greenfields development. Brightstar had an independent valuation completed which valued the processing plant at AU$60 million in replacement value.
- Low Upfront Capital Cost: As part of the scoping study released in September 2023, GR Engineering estimated a capital cost requirement to refurbish and expand the milling capacity would cost just AU$18.5 million.
- Close to Existing Assets: Brightstar's major development projects — Cork Tree Well, Jasper Hills, Beta and Alpha — are all close to the plant.
Gold doré bars (BTR005 – BTR016) poured on 9 March 2024
Management Team
Alex Rovira - Managing Director
Alex Rovira is a qualified geologist and an experienced investment banker having focused on the metals and mining sector since 2013. Rovira has experience in ASX equity capital markets activities, including capital raisings, IPOs and merger and acquisitions.
Richard Crookes - Non-executive Chairman
Richard Crookes has over 35 years’ experience in the resources and investments industries. He is a geologist by training having previously worked as the chief geologist and mining manager of Ernest Henry Mining in Australia.
Crookes is managing partner of Lionhead Resources, a critical minerals investment fund and formerly an investment director at EMR Capital. Prior to that he was an executive director in Macquarie Bank’s Metals Energy Capital (MEC) division where he managed all aspects of the bank’s principal investments in mining and metals companies.
Andrew Rich - Executive Director
Andrew Rich is a degree qualified mining engineer from the WA School of Mines and has obtained a WA First Class Mine Managers Certificate. Rich has a strong background in underground gold mining with experience predominantly in the development of underground mines at Ramelius Resources (ASX:RMS) and Westgold Resources (ASX:WGX).
Ashley Fraser - Non-executive Director
Ashley Fraser is an accomplished mining professional with over 30 years experience across gold and bulk commodities. Fraser was a founder of Orionstone (which merged with Emeco in a $660-million consolidation) and is a founder/owner of Blue Cap Mining and Blue Cap Equities.
Jonathan Downes - Non-executive Director
Jonathan Downes has over 30 years’ experience in the minerals industry and has worked in various geological and corporate capacities. Experienced with gold and base metals, he has been intimately involved with the exploration process through to production. Downes is currently the managing director of Kaiser Reef, a high grade gold producer, and non-executive director of Cazaly Resources.
Matthew Bowles – Non-executive Director
Matthew Bowles is a senior corporate finance executive with extensive public corporate advisory, private equity and capital markets experience in the resources sector. Bowles has successfully negotiated domestic and cross border corporate funding, joint venture and M&A transactions for a number of ASX listed companies in Africa, the Americas and Australia. He was previously chief development officer for a West African focused ASX listed company. He commenced his career with Rio Tinto, working in corporate and commercial roles for nine years, before moving to London to work in banking and finance. Since his return to Australia, Bowles has held senior roles with global advisory firms, focusing on the resources sector. Bowles holds a Bachelor of Business, is a member of CPA Australia and a Fellow of the Financial Services Institute of Australia.
Dean Vallve – Chief Operating Officer
Dean Vallve holds technical qualifications in geology & mining engineering from the WA School of Mines, an MBA, and a WA First Class Mine Managers Certificate. Vallve was previously in senior mining and study roles at ASX listed mid-cap resources companies Hot Chili (ASX:HCH) and Calidus Resources (ASX:CAI).
Radisson Mining Resources: Advancing High-grade Gold Exploration in Quebec
Radisson Mining Resources (TSXV:RDS,OTCQB:RMRDF) is a gold exploration company unlocking the value of its 100 percent owned O’Brien gold project. Located in the Abitibi Greenstone Belt along the prolific Larder-Lake-Cadillac Break in Quebec, Canada, the O’Brien gold project hosts the highest-grade, past-producing mine along the Cadillac Break. Radisson Mining Resources leverages its extensive drilling campaigns, high-grade historical production, and experienced management team to create value for shareholders and stakeholders.
With world-class assets, robust exploration programs, and experienced leadership, Radisson is well-positioned to deliver value to its shareholders.
The O’Brien gold project is in the Abitibi region of northwestern Quebec, along the Larder-Lake-Cadillac Break, and encompasses the historic O’Brien mine, which produced 587,121 ounces of gold at an average grade of 15.25 grams per ton (g/t) between 1926 and 1957. The company has planned a 22,000-metre drilling program to expand known mineralization below existing resources.
Company Highlights
- Flagship O’Brien Gold Project: Hosts the highest-grade, past-producing mine along the Cadillac Break, with significant resource expansion potential.
- Located in tier-one mining district amongst numerous world-class producers
- Experienced Leadership: A seasoned management team and board with a proven track record in mining exploration and development.
- Commitment to Sustainability: Prioritizes environmental stewardship and community engagement in all exploration activities.
This Radisson Mining Resources profile is part of a paid investor education campaign.*
Click here to connect with Radisson Mining Resources (TSXV:RDS) to receive an Investor Presentation
Quimbaya Gold: Unlocking High-grade Gold Potential in Antioquia, Colombia’s Premier Mining District
Quimbaya Gold (CSE:QIM)) is a junior gold exploration company exploring high-grade gold projects in Colombia. Quimbaya Gold's portfolio spans 59,057 hectares in highly prospective regions in the Antioquia mining district, the region responsible for about 50 percent of Colombia’s total gold production or around one million ounces (Moz) annually.
Located next to Aris Mining’s (TSX:ARIS) Segovia mine, Quimbaya leverages its proximity to established infrastructure and gold-rich geological formations. With Colombia being one of the most underexplored yet top mining jurisdictions in South America, Quimbaya’s projects are uniquely poised for significant discoveries.
Quimbaya's flagship Tahami project spans 17,087 hectares featuring mesothermal veins with multiple mineralization events underlain by Precambrian metamorphic rocks consolidated within the San Lucas Gneiss unit.
Company Highlights
- Quimbaya Gold controls 59,057 hectares across three distinct projects in Antioquia, Colombia — renowned as the country's top mining department, accounting for over half of Colombia’s gold production.
- The flagship Tahami project is adjacent and on trend to Aris Mining’s Segovia mine, one of the highest-grade gold mines globally. Tahami benefits from its strategic proximity to Segovia and its potential for discovery of high-grade vein gold systems.
- Tight share structure (60 percent insider/family offices/institutions ownership) with a market cap of approximately C$11.45 million, ensuring alignment with shareholder interests.
- Quimbaya has entered into a partnership with Independence Drilling, Colombia’s largest drilling company, which secures an extremely cost-effective 100,000 meters of drilling over five years.
- Quimbaya utilizes software that allows for rapid and cost-effective acquisition of mining claims, giving the company a competitive edge in securing high-value assets.
- The technical team’s proven track record of major discoveries in Colombia positions Quimbaya as a standout explorer in the region.
This Quimbaya Gold profile is part of a paid investor education campaign.*
Click here to connect with Quimbaya Gold (CSE:QIM) to receive an Investor Presentation
Radisson Mining Resources
Investor Insight
A compelling investment opportunity, Radisson Mining is leveraging its significantly high-grade gold asset in the prolific Abitibi Greenstone Belt and a strategic exploration and development plan to aggressively advance its flagship O’Brien gold project.
Overview
Radisson Mining Resources (TSXV:RDS,OTCQB:RMRDF) is a gold exploration company focused on unlocking the value of its 100 percent owned O’Brien gold project, strategically located in the Abitibi Greenstone Belt along the prolific Larder-Lake-Cadillac Break in Quebec, Canada. The company leverages its extensive drilling campaigns, high-grade historical production, and experienced management team to create value for shareholders and stakeholders.
Company Highlights
- Flagship O’Brien Gold Project: Hosts the highest-grade, past-producing mine along the Cadillac Break, with significant resource expansion potential.
- Located in tier-one mining district amongst numerous world-class producers
- Experienced Leadership: A seasoned management team and board with a proven track record in mining exploration and development.
- Commitment to Sustainability: Prioritizes environmental stewardship and community engagement in all exploration activities.
Key Project
O’Brien Gold Project: A High-Grade Opportunity in the Abitibi Region
The O’Brien gold project is Radisson's flagship asset, located in the Abitibi region of northwestern Quebec, along the Larder-Lake-Cadillac Break. The project encompasses the historic O’Brien mine, which produced 587,121 ounces of gold at an average grade of 15.25 grams per ton (g/t) between 1926 and 1957.
Project Highlights
- Location: Situated between the towns of Rouyn-Noranda and Val-d’Or, with excellent infrastructure and access via Trans-Canadian Highway 117
- Recent drilling: 2024 drilling highlighted significant potential for resource expansion at depth with the deepest hole ever drilled at the project returning an intercept of 242 g/t gold over 1 metre within a mineralized interval that averaged 31.24 g/t gold over 8 metres, in addition to the possible re-discovery of the famous “Jewellery Box” zone with an intercept of 1,345 g/t gold over 1 metre
- MOU with IAMGOLD: Memorandum of understanding signed with IAMGOLD to assess the design criteria for processing mined material from O’Brien at the nearby Doyon gold mill. The mill is part of IAMGOLD’s Doyon-Westwood mine complex located just 21 kilometres west of O’Brien directly accessible along Trans-Canada Highway 117.
- Resource Estimate: As of March 2, 2023, the project boasts indicated resources of 1,517,000 tons grading 10.26 g/t gold (501,000 ounces) and inferred resources of 1,601,000 tons grading 8.66 g/t gold (446,000 ounces) at a 4.5 g/t gold cut-off.
- Infrastructure: Proximity to five potential custom milling facilities within 75 km enhances project economics.
2025 Outlook and Exploration & Development Plans
Radisson Mining Resources has released its 2025 outlook and detailed exploration and development plans for the O’Brien gold project in Québec.
Key Highlights:
- Exploration Drilling: A 22,000-metre drilling program is planned to expand known mineralization below existing resources. This follows significant 2024 results, including 242 g/t gold over 1 metre at 1,500 metres depth.
- Surface Exploration: Initiatives include surface stripping and trenching to delineate the extension of the historic "Jewellery Box" zone, recently rediscovered by Radisson drilling.
- Development Studies: Completion of metallurgical studies and milling assessments under an MOU with IAMGOLD is anticipated, focusing on processing at the nearby Doyon mill. A preliminary economic assessment( PEA) is planned upon successful completion of these studies.
- Environmental and Community Engagement: Increased focus on baseline environmental studies and community engagement is planned as the project advances toward potential development.
- The 2025 exploration budget is approximately C$6.8 million, fully funded from Radisson's existing treasury.
Leadership and Expertise
Radisson Mining Resources is led by a team of experienced professionals with extensive backgrounds in mining exploration, development, and operations.
Management Team
Matt Manson -President, Chief Executive Officer, and Director
Matt Manson has over 30 years of international mining experience, including leadership roles in developing the Valentine gold project and the Renard Diamond mine.
Hubert Parent-Bouchard - Chief Financial Officer
Hubert Parent-Bouchard joined Radisson in 2014, bringing expertise in corporate finance and strategic planning.
Kristina Pillon - Manager of Investor Relations
Kristina Pillon brings 15 years of experience in capital markets focused primarily in the resource sector.
Dave Ross - Vice President, Exploration
Dave Ross is a professional geologist with 25 years of experience in mineral resource estimation and the exploration of structurally hosted gold deposits.
Board of Directors
Pierre Beaudoin - Chairman of the Board & ESG Committee Member
Pierre Beaudoin is a seasoned mining executive with over 30 years of international experience in operations, project development and mineral processing.
Peter MacPhail - Director
Peter MacPhail has over 35 years of operational mining experience in Canada, Mexico and Australia, including leadership roles at Alamos Gold.
Michael Gentile - Director, Strategic Advisor & Audit Committee Member
Michael Gentile is a former professional money manager with extensive experience in the mining and natural resource sectors.
Jeff Swinoga - Director & Audit Committee Chair
Jeff Swinoga is a highly accomplished mining executive with over 25 years of mining industry experience in the areas of capital markets, project advancement, development and project construction.
Cindy Valence - Director & ESG Committee Chair
Cindy Valence, MBA, is an experienced manager with over 20 years of experience, having held senior management level positions, including as executive vice-president and chief sustainability officer at Sayona Mining.
Lise Chénard - Director, ESG Committee Member & Audit Committee Member
Lise Chénard is a professional engineer with over 40 years of experience in mining geology (gold, copper, zinc) in Quebec and internationally. Her expertise extends to mining operations, management and technical supervision, resource and reserve audits, and technical studies of mining projects.
Sustainability and Community Engagement
Radisson Mining Resources is committed to responsible exploration and sustainable development. The company actively engages with local communities and stakeholders to ensure its projects deliver long-term value while minimizing environmental impact.
Advancing Towards Value Creation
With a clear vision to expand its high-grade gold resources and unlock exploration upside, Radisson Mining Resources is well-positioned to deliver value to its shareholders. The combination of world-class assets, robust exploration programs, and experienced leadership underscores Radisson's commitment to becoming a leading gold exploration company in Quebec.
For more information, visitwww.radissonmining.com.
Providence Gold Mines Inc. Announces Extension of Private Placement
January 16, 2025 TheNewswire - (TSX-V: PHD) ( OTC: PRRVF ) Providence Gold Mines Inc. (the "Company") announces that it has received an extension from the TSX Venture Exchange ("TSX-V") with respect to the duration of its previously announced private placement (the "Private Placement") (please see the Company's press releases dated November 20, 2024 and December 6, 2024). The outside date upon which final acceptance of the Private Placement will be granted by the TSX-V has been extended by 30 days. While the Company has closed a first tranche of the private placement it applied for an extension to January 28, 2025.
As previously announced the private placement of up to $1,700,000 Cdn for 34,000,000 units at $0.05 per unit. Each unit will comprise of one common share and one non-transferable warrant, exercisable into one common share of the Company at a price of $0.09 for a period of two years from the date of closing.
The funds from this placement will be used for evaluation of the new gold surface discovery reported for reference on May 6,2024 and for a significant drilling program of up to 2500m designed to target the historical McCarthy and Mexican shafts and as well as an area north of the Mexican shaft where significant ground preparation provides a favorable structural setting for hanging wall splay veins analogous to the historical "Bonanza" stope at the Providence mine first stope at surface alone produced 50,000 ounces. Ron Coombes states, "exploration efforts have modelled potential for robust significant high grade gold targets".
All securities issued will be subject to a hold period of four months and one day from the closing date of the private placement, in accordance with applicable Canadian securities laws.
Qualified Person
Lee Groat Ph.D., P. Geo, a geologist and qualified person (as defined under NI 43-101) has read and approved of the technical information contained in this news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange accepts responsibility for the adequacy or accuracy of this release
ON BEHALF OF THE BOARD
"Ronald Coombes"
Ronald Coombes, President & CEO
Copyright (c) 2025 TheNewswire - All rights reserved.
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Brightstar Resources Investor Kit
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