Brightstar Resources

Quarterly Activities/Appendix 5B Cash Flow Report

Key activities for Brightstar Resources Limited (Brightstar or the Company) (ASX: BTR) during the December Quarter are outlined below.


Highlights:

  • First ore mined at Selkirk under the mining JV at Menzies
  • 5,000m RC drill program completed at Aspacia and Link Zone at Menzies
  • Maiden Mineral Resource Estimate released for the Link Zone
  • Aircore drilling extends strike of +300koz Cork Tree Well Deposit for a further 1.5km
  • Lithium exploration in Menzies uncovers multiple anomalies and outcropping pegmatites
  • Brightstar Processing Plant valued at over A$60m replacement cost
  • $5.0 million raised via a Share Placement to accelerate exploration and development activities

Link Zone Maiden Mineral Resource1

A maiden Mineral Resource Estimate (MRE) at the Link Zone of +21koz @ 1.1g/t Au (Table 1) targeting shallow, easily mineable material at the Menzies Gold Project was announced in November 2023. The Link Zone is located ~1km south of the 287koz Lady Shenton System and ~1km north of the 43koz Lady Harriet System at the Menzies Gold Project (Figures 1 & 2).

This MRE was undertaken on data from over 200 RC holes, including a modest drilling program completed by Brightstar with gold intercepts including 1m @ 13.95g/t and 4m @ 3.21g/t as released on 8th August 2023.

Table 1 - Link Zone Resource Table Summary (November 2023)

Post quarter end, Brightstar announced2 the results of assays for 27 holes completed at the Link Zone, out of a total 42 holes (2,800m) completed in December. The December quarter RC drilling program was designed to both infill and extend known boundaries of mineralisation with the intent of advancing it towards potential near-term mining opportunities, with best intercepts including:

  • 1m @ 54.77g/t Au from 10m (MGPRC049)
  • 7m @ 3.09g/t Au from 84m (MGPRC050)
  • 2m @ 4.46g/t Au from 6m (MGPRC059)
  • 3m @ 2.96g/t Au from 31m (MGPRC053)
  • 3m @ 2.32g/t Au from 0m (MGPRC040)

Brightstar identified the Link Zone as having the potential for early-stage mining opportunities to generate operational working capital to organically fund exploration and development activities. The MRE displays favourable orebody characteristics of near surface stacked lodes, oxidised material, likely low strip mining and is still open at depth and along strike at all three deposits within the Link Zone.


Click here for the full ASX Release

This article includes content from Brightstar Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

BTR:AU
The Conversation (0)
Diggers and Dealers Presentation

Diggers and Dealers Presentation

Brightstar Resources (BTR:AU) has announced Diggers and Dealers PresentationDownload the PDF here. Keep Reading...
Goldfields Project July Construction Update

Goldfields Project July Construction Update

Brightstar Resources (BTR:AU) has announced Goldfields Project July Construction UpdateDownload the PDF here. Keep Reading...
Spectacular 305m @ 1.8g/t Au in Sandstone extension drilling

Spectacular 305m @ 1.8g/t Au in Sandstone extension drilling

Brightstar Resources (BTR:AU) has announced Spectacular 305m @ 1.8g/t Au in Sandstone extension drillingDownload the PDF here. Keep Reading...
Quarterly Activities/Appendix 5B Cash Flow Report

Quarterly Activities/Appendix 5B Cash Flow Report

Brightstar Resources (BTR:AU) has announced Quarterly Activities/Appendix 5B Cash Flow ReportDownload the PDF here. Keep Reading...
Building Mines and Growing Resources Presentation

Building Mines and Growing Resources Presentation

Brightstar Resources (BTR:AU) has announced Building Mines and Growing Resources PresentationDownload the PDF here. Keep Reading...
Horizon Gold

Excellent RC drilling intercepts returned across Snook, Cobia, and Alma May, including 44m @ 5.08g/t Au at Snook

Horizon Gold Limited (ASX: HRN) (‘Horizon’ or ‘the Company’) is pleased to announce some spectacular gold intercepts returned from RC drilling at its 100% owned Gum Creek Gold Project (‘Gum Creek’ or ‘the Project’) located in the Mid-West Region of Western Australia. Final assay results for... Keep Reading...
Gold bars with US Federal Reserve flag.

Editor's Picks: Gold, Silver Prices Bounce, Expert Outlines Fed "Doom Loop" Scenario

The gold price fell below the US$4,100 per ounce level midway through the week, but recovered quickly to close Friday (October 9) near US$4,200. Silver followed a similar trajectory, sinking as low as US$58.75 per ounce on Thursday (October 8) before bouncing back to finish the period just under... Keep Reading...
Gold nuggets with text: "5 Top Australian Mining Stocks This Week."

Top 5 Australian Mining Stocks This Week: Dalaroo Metals Gains 67 Percent on Drill Results

Welcome to the Investing News Network's weekly round-up of the top-performing mining stocks on the ASX.This week's top five gainers includes companies focused on gold, critical minerals, helium and more.Read on to discover this week's top gaining Australian mining stocks on the ASX and what... Keep Reading...
andrew o'donnell, stock chart

Andrew O'Donnell: Gold, Critical Minerals — How I Find "Asymmetric" Opportunities

Andrew O'Donnell of the Market Mindset explains how he's using artificial intelligence tools to unearth overlooked opportunities in the junior mining space, emphasizing the importance of tracking companies that follow through on their plans. "I've got a long-term horizon, and that I think is the... Keep Reading...
Inside of building at mine site.

The Two Asset Transition: Why Multiple Producing Assets Matter for Investors

Gold investors tend to focus on the gold price, grades and costs when assessing a producer. The number of mines a company operates gets less attention, but it shapes how much risk shareholders carry and how a company can grow.Global investment manager VanEck said that when you buy a gold... Keep Reading...

Interactive Chart

Latest Press Releases

Related News