Aspacia Deposit Returns More High-Grade Gold Over 600m of Strike Length at Menzies

Brightstar Resources Limited (Brightstar or the Company) (ASX: BTR) is pleased to announce that it has received the assays from the recently completed ~6,000m RC drilling program at the Link Zone and Aspacia deposits at the Menzies Gold Project, along with confirmation of safe and productive ore haulage from the Selkirk Mining JV presently underway with BML Ventures Pty Ltd.

HIGHLIGHTS

• Results from the 28-hole reverse circulation drilling program at the Aspacia Deposit at the Menzies Gold Project have been received, with best intercepts including:
  • 1m @ 18.88g/t Au from 56m (MGPRC068)
  • 1m @ 13.91g/t Au from 60m (MGPRC078)
  • 1m @ 13.03g/t Au from 84m (MGPRC086)
  • 1m @ 9.55g/t Au from 88m (MGPRC069)
• The intercepts highlight the high-grade narrow vein nature of the mineralised system at Aspacia that is typical of the rich Menzies goldfield (historic production of 787,200oz at 18.9g/t Au)
• Assay results confirm +600m of strike extent of the high-grade historically mined underground, which is open both at depth and along strike
• +80% of Aspacia holes intercepted +2.0g/t Au mineralisation, which is common for underground resource cut-off grades at WA Goldfield operations
• Aspacia and adjacent First Hit deposits are shaping up as a second high-grade underground mine operations to complement the proposed Yunndaga underground mine development
• Brightstar has commenced work to deliver a JORC Mineral Resource Estimate for Aspacia targeted for released in Q1 2024
• Link Zone assays results received continue to show shallow mineralisation that has potential for near-surface open pit extraction opportunities, including:
  • 7m @ 1.74g/t Au from 16m (MGPRC096)
  • 1m @ 3.93g/t Au from 35m (MGPRC103)
• Ore Haulage commenced from Selkirk Mine, with +8,000t of High Grade ore at Gwalia ROM Pad for processing by Genesis Minerals Ltd (ASX: GMD).

This drilling program was designed to test along strike and down dip from known previous drilling intercepts and historical mining records, in preparation for delineation of a maiden Mineral Resource Estimate targeted for release later this quarter.

This mineralisation style is common for the Menzies Goldfield and the Aspacia deposit, where the underground workings were historically mined at +30g/t Au1. It is encouraging to see the consistency of the gold-bearing structures and intercepts across a strike length of 600m and up to 180m down dip and still open across the deposit. The lode widths and grades observed are comparable to current underground mines in Western Australia, including the East Kundana Joint Venture (Evolution Mining, ASX:EVN) and the Rothsay Gold Mine (Silver Lake Resources, ASX:SLR).

Along with the adjacent First Hit mine, which produced some 195koz from a shallow open pit and narrow vein underground mine, the broader Aspacia area presents as an exciting potential high-grade underground mine complex. These compelling targets will be considered in line with the proposed mining operations outlined in the 2023 Scoping Study2 which outlined a pathway to delivering 153koz of recoverable gold with a low capex, toll treat processing solution for the broader Menzies Gold Project.

We are also encouraged by Link Zone also delivering economic (+0.5g/t Au) hits in twelve of fifteen holes drilled in late 2023 complementing the existing results announced on 22 January 20243.”

Brightstar has recently completed a 70 hole, +6,00m RC drilling program at the Aspacia and Link Zone deposits in Menzies (Figure 1) targeting infill and extensional areas within these deposits.

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