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.
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. Brightstar also recently announced the results from DFS-level metallurgical testwork programs at Cork Tree Well with returned recoveries over 90 percent, including a high gravity gold content, ranging from 25 percent - 60 percent.
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.
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.
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).
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:
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.
Gold doré bars (BTR005 – BTR016) poured on 9 March 2024
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 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 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 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 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.
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).
Emerging gold producer and district-scale resource developer in Western Australia
NevGold Corp. (“NevGold” or the “Company”) (TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) is pleased to announce that it has discovered further significant oxide gold-antimony (“Antimony”, “Sb”) drill results at its Limousine Butte Project (the “Project”, “Limo Butte”) in Nevada. The Company continues to unlock the substantial gold-antimony potential of the Project, highlighting its promising prospects for further exploration and development in Nevada, one of the world’s prolific mining jurisdictions.
Key Highlights
Limo Butte Planned 2025 Activities / Status Update
NevGold will continue its active exploration program at Limo Butte including:
Figure 1 – Limousine Butte Gold-Antimony Project with selected gold-antimony drillhole results.
To view image please click here
Figure 2 – Limousine Butte Gold-Antimony Project cross-section with selected gold-antimony drillhole results. Thin colored discs show Antimony (Sb ppm) in drilling, and wide colored discs show Gold (Au ppm) in drilling.
To view image please click here
Figure 3 – Limousine Butte Gold-Antimony Project with selected gold-antimony drillhole results.
To view image please click here
NevGold CEO, Brandon Bonifacio, comments: “The discovery of more significant oxide gold-antimony drill results at Resurrection Ridge continues to be a key development at our emerging Limo Butte oxide gold-antimony project. Drillholes at Resurrection Ridge have been drilled with spacing showing strong potential to advance the target area to an initial Mineral Resource Estimate (“MRE”). We have now defined two large mineralization footprints at both Resurrection Ridge and Cadillac Valley, and the oxide gold-antimony grades, near-surface mineralization, and hole thickness highlight the significant gold-antimony opportunity at the Project. As we have stated in previous news releases, we continue to analyze and re-assay holes from both Resurrection Ridge and Cadillac Valley and we still have a number of holes to release with combined gold-antimony results. To date, we have released a total of 15 holes, and we will have frequent updates as we receive further assays from the lab. The timing and market conditions continue to improve, and this is an optimal environment to advance the gold-antimony potential at Limo Butte as there is a clear commitment from the United States to advance high-quality, domestic, mineral projects.”
Historical and Re-Assayed Drill Results
| Hole ID | Length, m* | g/t Au | % Sb | g/t AuEq** | From, m | To, m |
| Resurrection Ridge | ||||||
| LB023 | 67.1 | 1.30 | 0.18% | 2.11 | 24.4 | 91.5 |
| including | 30.5 | 2.79 | 0.33% | 4.29 | 30.5 | 61.0 |
| also including | 16.8 | 5.05 | 0.46% | 7.12 | 42.7 | 59.4 |
| LB029 | 79.3 | 0.53 | 0.14% | 1.16 | 122.0 | 201.2 |
| including | 18.3 | 0.52 | 0.30% | 1.86 | 128.0 | 146.3 |
| LB013 | 49.7 | 0.15 | 0.26% | 1.29 | 30.8 | 80.5 |
| LB21-005 | 79.2 | 0.22 | 0.08% | 0.56 | 64.5 | 143.7 |
| including | 8.6 | 0.59 | 0.46% | 2.66 | 65.5 | 74.1 |
| LB006*** | 86.9 | 1.11 | 0.30% | 2.46 | 36.6 | 123.4 |
| including | 12.8 | 1.83 | 0.87% | 5.75 | 79.2 | 92.0 |
| also including | 6.7 | 2.29 | +1%**** | 6.77 | 85.3 | 92.0 |
| LB001*** | 63.9 | 0.21 | 0.33% | 1.69 | 13.1 | 77.0 |
| including | 17.7 | 0.38 | 0.83% | 4.10 | 55.2 | 72.8 |
| also including | 6.4 | 0.16 | +1%**** | 4.64 | 55.2 | 61.6 |
| LB003*** | 22.3 | 2.26 | 0.32% | 3.69 | 67.1 | 89.3 |
| including | 7.9 | 5.97 | 0.57% | 8.55 | 81.4 | 89.3 |
| LB004*** | 110.4 | 0.19 | 0.12% | 0.73 | 0.0 | 110.4 |
| including | 36.6 | 0.24 | 0.21% | 1.16 | 6.7 | 43.3 |
| LIM-40*** | 54.9 | 1.20 | 0.64% | 4.07 | 18.3 | 73.2 |
| including | 12.2 | 2.12 | +1%**** | 6.60 | 48.8 | 61.0 |
| LIM-45*** | 36.6 | 1.23 | 0.40% | 3.02 | 24.4 | 61.0 |
| including | 12.2 | 0.35 | +1%**** | 4.83 | 36.6 | 48.8 |
| LIM-48*** | 61.0 | 0.77 | 0.41% | 2.61 | 24.4 | 85.4 |
| including | 24.4 | 0.37 | 0.77% | 3.82 | 48.8 | 73.2 |
| Hole ID | Length, m* | g/t Au | % Sb | g/t AuEq** | From, m | To, m |
| Cadillac Valley | ||||||
| LB22-007*** | 169.2 | 0.89 | 0.18% | 1.70 | 213.5 | 382.7 |
| including | 54.4 | 2.26 | 0.13% | 2.85 | 213.5 | 267.9 |
| also including | 3.10 | 0.76 | 2.76% | 13.15 | 259.2 | 267.9 |
| LB22-006*** | 124.7 | 0.84 | 0.11% | 1.34 | 127.4 | 252.1 |
| including | 24.3 | 1.32 | 0.20% | 2.23 | 160.6 | 184.9 |
| LB22-019*** | 28.9 | 1.09 | 0.04% | 1.27 | 170.7 | 199.6 |
| LB054*** | 12.2 | 0.42 | 0.08% | 0.79 | 12.2 | 24.4 |
*Downhole thickness reported; true width varies depending on drill hole dip and is approximately 70% to 90% of downhole thickness.
**The gold equivalents (“AuEq”) are based on assumed metals prices of US$2,000/oz of gold and US$35,000 per tonne of antimony (~30% discount to current spot prices), and assumed metals recoveries of 85% for gold and 70% for antimony.
***Selected drillholes released in previous News Releases on February 27, 2025, March 26, 2025, and April 10, 2025.
**** Historical drilling had an upper detection limit of 1% Sb but many drill intervals exceeded the limit.
Limo Butte Geology & Antimony Potential
A review of historical geochemical and drilling data at the Limousine Butte Project has identified multiple areas with strong gold-antimony potential. These zones correlate closely with outcrops of the Devonian Pilot Shale, the primary host rock for Carlin-type gold mineralization in the area. Positive gold grade at Limousine Butte is typically associated with silicification and the formation of jasperoid breccias within the Pilot Shale, an alteration feature also observed in the positive antimony results.
Through the Project data review, the Company uncovered reports detailing two small-scale historic mining operations at the Nevada Antimony Mine and Lage Antimony Prospect within the Limo Butte Project boundary. The Nevada Antimony Mine featured two prospect pits that extracted stibnite (formula: Sb2S3) from a hydrothermal breccia. The Lage Antimony Prospect reported historical unverified sampling results with up to 14.46% Antimony with additional prospect pits extracting antimony.
Historical geochemical rock chip sampling within the past-producing Golden Butte pit from a Brigham Young University (“BYU”) Thesis study produced numerous results that exceeded 1% antimony in jasperoid breccias (see Figure 1). Several results were greater then 5% antimony, including a sample of 9.6% antimony with visible stibnite and stibiconite. BYU Thesis Report
NevGold VP Exploration, Greg French, comments: “The re-assay program continues to produce positive gold-antimony results. The gold-antimony mineralization in the northwest-southeast direction at Resurrection Ridge extends approximately 500 meters (Figure 2) and remains open to the east. Previous geological models have interpreted the dolomite cover to be the base unit that is below mineralization. Re-logging drill holes and the outcroppings to the east indicate that the dolomite cover is actually a thrust plate over the host Pilot Shale unit, expanding the prospective target area. We have currently defined over 5 km of strike length between Resurrection Ridge and Cadillac Valley, and we will continue to analyze the data from both of these target areas to incorporate results in the planning for the next drill program and metallurgical test work.”
Figure 4 – Limousine Butte Project with historical antimony in rock chips and soils. The total strike length between Resurrection Ridge and Cadillac Valley is +5km. To view image please click here
US Executive Order – Announced March 20, 2025
The Company is pleased to report the recent, sweeping Executive Order to strengthen American mineral production and reduce U.S. reliance on foreign nations for its mineral supply. Antimony (Sb) has been identified as an important “Critical Mineral” in the United States essential for national security, clean energy, and technology applications, yet no domestically mined supply currently exists.
The Executive Order invokes the use of the Defense Production Act as part of a broad United States (“US”) Government effort to expand domestic minerals production on national security grounds. As it relates to project permitting, the Order states that it will "identify priority projects that can be immediately approved or for which permits can be immediately issued, and take all necessary or appropriate actions…to expedite and issue the relevant permits or approvals." Furthermore, the Order includes provisions to accelerate access to private and public capital for domestic projects, including the creation of a "dedicated mineral and mineral production fund for domestic investments" under the Development Finance Corporation ("DFC").
This decisive action by the US Government highlights the urgent need to expand domestic minerals output to support supply chain security in the United States. This important Order will help revitalize domestic mineral production by improving the permitting process and providing financial support to qualifying domestic projects.
Importance of Antimony
Antimony is considered a “Critical Mineral” by the United States based on the U.S. Geological Survey’s 2022 list (U.S.G.S. (2022)). “Critical Minerals” are metals and non-metals essential to the economy and national security. Antimony is utilized in all manners of military applications, including the manufacturing of armor piercing bullets, night vision goggles, infrared sensors, precision optics, laser sighting, explosive formulations, hardened lead for bullets and shrapnel, ammunition primers, tracer ammunition, nuclear weapons and production, tritium production, flares, military clothing, and communication equipment. Other uses include technology (semi-conductors, circuit boards, electric switches, fluorescent lighting, high quality clear glass and lithium-ion batteries) and clean-energy storage.
Globally, approximately 90% of the world’s current antimony supply is produced by China, Russia, and Tajikistan. Beginning on September 15, 2024, China, which is responsible for nearly half of all global mined antimony output and dominates global refinement and processing, announced that it will restrict antimony exports. In December-2024, China explicitly restricted antimony exports to the United States citing its dual military and civilian uses, which further exacerbated global supply chain concerns. (Lv, A. and Munroe, T. (2024)) The U.S. Department of Defense (“DOD”) has designated antimony as a “Critical Mineral” due to its importance in national security, and governments are now prioritizing domestic production to mitigate supply chain disruptions. Projects exploring antimony sources in North America play a key role in addressing these challenges.
Perpetua Resources Corp. (“Perpetua”, NASDAQ:PPTA, TSX:PPTA) has the most advanced domestic gold-antimony project in the United States. Perpetua’s project, known as Stibnite, is located in Idaho approximately 130 km northeast of NevGold’s Nutmeg Mountain and Zeus projects. Positive advancements at Stibnite including the technical development and permitting has led to US$75 million in Department of Defense (“DOD”) awards, and over $1.8 billion in indicative financing from the Export Import Bank of the United States (“US EXIM”) (see Perpetua Resources News Release from April 8, 2024) (Perpetua Resources. (2025))
Drillhole Orientation Details
| Hole ID | Target Zone | Easting | Northing | Elevation (m) | Length (m) | Azimuth | Dip |
| LB023 | Resurrection Ridge | 667143 | 4417273 | 2174 | 187 | 70 | -60 |
| LB029 | Resurrection Ridge | 667128 | 4417307 | 2162 | 237.7 | 0 | -90 |
| LB013 | Resurrection Ridge | 667142 | 4417273 | 2177 | 164.7 | 90 | -50 |
| LB21-005 | Resurrection Ridge | 667279 | 4417487 | 2179 | 253.8 | 0 | -90 |
| LB006 | Resurrection Ridge | 667030 | 4417384 | 2125 | 152.7 | 0 | -90 |
| LB001 | Resurrection Ridge | 667036 | 4417384 | 2125 | 77 | 0 | -90 |
| LB003 | Resurrection Ridge | 667134 | 4417528 | 2133 | 129.4 | 0 | -90 |
| LB004 | Resurrection Ridge | 667313 | 4417277 | 2239 | 198.7 | 270 | -50 |
| LIM-40 | Resurrection Ridge | 667018 | 4417409 | 2124 | 289.6 | 0 | -90 |
| LIM-45 | Resurrection Ridge | 666929 | 4417389 | 2103 | 179.8 | 0 | -90 |
| LIM-48 | Resurrection Ridge | 666927 | 4417374 | 2105 | 286.5 | 0 | -90 |
| LB22-007 | Cadillac Valley | 665211 | 4415453 | 2031 | 403.5 | 254 | -86 |
| LB22-006 | Cadillac Valley | 664692 | 4414921 | 2042 | 379.8 | 144 | -77 |
| LB22-019 | Cadillac Valley | 664433 | 4414318 | 2096 | 335.3 | 116 | -66 |
| LB054 | Cadillac Valley | 665323 | 4415090 | 2059 | 157.0 | 0 | -90 |
Figure 4 – Limousine Butte Land Holdings and District Exploration Activity To view image please click here
ON BEHALF OF THE BOARD
“Signed”
Brandon Bonifacio, President & CEO
For further information, please contact Brandon Bonifacio at bbonifacio@nev-gold.com, call 604-337-4997, or visit our website at www.nev-gold.com.
Historical Data Validation
NevGold QA/QC protocols are followed on the Project and include insertion of duplicate, blank and standard samples in all drill holes. A 30g gold fire assay and multi-elemental analysis ICP-OES method was completed by ISO 17025 certified American Assay Labs, Reno.
The Company’s Qualified Person (“QP”), Greg French, Vice President, Exploration has completed a review of the historical data in this press release. The historic data collection chain of custody procedures and analytical results by previous operators appear adequate and were completed to industry standard practices. For the Newmont and US Gold data a 30g gold fire assay and multi-elemental analysis ICP-OES method MS-41 was completed by ISO 17025 certified ALS Chemex, Reno or Elko Nevada.
Geochemical ICP (5g) analysis for the Wilson, Christianson and Tingey report was completed by Geochemical Services Inc. and the XRF analyses (glass disk or pellets) by Brigham Young University.
Technical information contained in this news release has been reviewed and approved by Greg French, CPG, the Company’s Vice President, Exploration, who is NevGold’s Qualified Person under National Instrument 43-101 and responsible for technical matters of this release.
About the Company
NevGold is an exploration and development company targeting large-scale mineral systems in the proven districts of Nevada and Idaho. NevGold owns a 100% interest in the Limousine Butte and Cedar Wash gold projects in Nevada, and the Nutmeg Mountain gold project and Zeus copper project in Idaho.
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.
Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur. Forward-looking statements include, but are not limited to, the proposed work programs at Limousine Butte, and the exploration potential at Limousine Butte. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such risks include, but are not limited to, general economic, market and business conditions, and the ability to obtain all necessary regulatory approvals. There is some risk that the forward-looking statements will not prove to be accurate, that the management’s assumptions may not be correct or that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
Freeport (NYSE: FCX) today announced that it has posted its first-quarter 2025 financial and operating results press release on the Investor Relations page of its website at https://investors.fcx.com/investors/news-releases .
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250423627211/en/
As previously indicated on its website, FCX will host a conference call today with securities analysts at 10:00 a.m. Eastern Time to discuss quarterly results. The conference call will be webcast on the Internet along with slides. Interested parties may listen to the conference call live and view the slides on the Investor Relations page of FCX's website at https://investors.fcx.com/investors/presentations . A replay of the webcast will be available through Friday, May 23, 2025.
FREEPORT: Foremost in Copper
FCX is a leading international metals company with the objective of being foremost in copper. Headquartered in Phoenix, Arizona, FCX operates large, long-lived, geographically diverse assets with significant proven and probable reserves of copper, gold and molybdenum. FCX is one of the world's largest publicly traded copper producers.
FCX's portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world's largest copper and gold deposits; and significant operations in North America and South America, including the large-scale Morenci minerals district in Arizona and the Cerro Verde operation in Peru.
By supplying responsibly produced copper, FCX is proud to be a positive contributor to the world well beyond its operational boundaries. Additional information about FCX is available on FCX's website at FCX.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250423627211/en/
Financial Contact:
David P. Joint
(504) 582-4203
Media Contact:
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(602) 366-7824
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