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
(TheNewswire)
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March 14 th 2025 TheNewswire - Vancouver, Canada – Opawica Explorations Inc. (the "Company" or "Opawica") (TSXV: OPW) (OTCQB: OPWEF), a Canadian mineral exploration company focused on precious and base metal projects, is pleased to announce that it intends to complete a non-brokered Private Placement (the "Private Placement") of up to 1,500,000 units of the Company ("Units") at a price of $0.20 per Unit for aggregate gross proceeds of up to $300,000.
Each Unit will consist of one common share of the Company and one Common Share purchase Warrant, with each Warrant exercisable into one Common Share at an exercise price of $0.30 per share at any time up to 24 months following the closing date of the Private Placement. The Company also maintains a Warrant Acceleration option allowing Opawica to accelerate the expiry date of the Warrants if the daily trading price of the Common Shares on the TSX Venture Exchange is greater than $0.42 per Common Share for the preceding 10 consecutive trading days. All securities issued under the Offering and including Warrants will be subject to a four (4) month holding period.
The Company intends to use the net proceeds to define and drill new exploration targets at its Arrowhead and Bazooka properties, general working capital and market awareness. The Private Placement remains subject to receipt of all required approvals, including the approval of the TSX Venture Exchange, as well as execution of formal documentation.
The qualified person has not verified the information on the adjacent properties and the information disclosed is not necessarily indicative of mineralization on the Opawica Projects.
About Opawica Explorations Inc.
Opawica Explorations Inc. is a junior Canadian exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi Gold Belt in Québec. The Company's management has a great track record in discovering and developing successful exploration projects. The Company's objective is to increase shareholder value through the development of exploration properties using cost effective exploration practices, acquiring further exploration properties, and seeking partnerships by either joint venture or sale with industry leaders.
FOR FURTHER INFORMATION CONTACT:
Blake Morgan
President and Chief Executive Officer
Telephone: 236-878-4938
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
Copyright (c) 2025 TheNewswire - All rights reserved.
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(TheNewswire)
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March 13 th 2025 TheNewswire - Vancouver, B.C. Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTC: OPWEF) (the "Company" or "Opawica"), a Canadian mineral exploration company focused on precious and base metal projects in the Abitibi gold belt, is pursuing ambitious growth objectives. With its 2025 exploration campaign at the Bazooka Property ("Bazooka") already underway, Opawica is targeting 50-metre step-outs in areas where previous assays exceeded 10 gt Au . In doing so, the Company aims to establish Bazooka as the next up-and-coming gold hotspot in the Abitibi Gold Belt.
Although Opawica's market capitalization is only about $8.5 million (as of March 8, 2025) on a fully diluted basis, last year's Lac Gold (Rouyn) Inc.'s acquisition of Yorbeau Resources Inc.'s Rouyn property set the floor on valuation expectations in the immediate region. The deal was structured with a total purchase price of C$25 million. Â Additionally, Lac Gold granted Yorbeau a 2% net smelter returns royalty on any minerals produced from the property.
Click Image To View Full Size
As the maps below show, Bazooka borders Lac Gold's Rouyn Property directly to the west (Opawica's McWatters Property borders Rouyn to the east).
Click Image To View Full Size
The 2024 acquisition was driven by several strategic factors. Foremost, the Rouyn property boasts significant mineral resources with room for expansion. Furthermore, Quebec's Abitibi Gold Belt reputation as a world class gold-producing jurisdiction played a key role in Lac Gold's decision, offering stability, investor-friendly policies, and well-developed mining infrastructure.
With the Lac Gold Rouyn Property holding  a total Measured and Indicated Resources are estimated at 247,000 t at 6.08 g/t Au containing 48,300 gold ounces. Inferred Resources total 633,000 t at 7.79 g/t Au for 158,800 gold ounces*. Bazooka has yet to establish the same historical pedigree as Rouyn at the time of its sale. However, historical drilling campaigns from 2003 to 2005, 2017 and more recently in 2021 to 2022 have revealed significant gold mineralization on the property, with notable intercepts, including:
77.18 g/t Au over 5.8 m
7.70 g/t Au over 20.5 m
25.77 g/t Au over 7.5 m
7.86 g/t Au over 17 m
Historical high-grade intercept of 316.23 g/t Au over 1 m
These historical results indicate Bazooka's potential—especially with the property located on Cadillac-Larder Lake Fault Zone. This proximity holds immense significance due to its high gold potential, proven geological setting, existing infrastructure, and strong investor interest. This fault has historically hosted some of the richest gold mines in Canada, and any property in this region generally benefits from enhanced exploration success rates and commercial viability.
Along the fault zone, Bazooka covers approximately seven kilometers of this prolific geological structure, which is associated with numerous gold deposits. This mineralized zone is spatially associated with its boundaries, indicating a direct relationship between the property's gold potential and its proximity to this major structural feature.
Short- and long-term goals
With the 2025 drill program underway, the short-term goal for Opawica is simple: to execute the first phase (5,000 m) of a planned 20,000 m drill targets campaign. The Company has already conducted airborne geophysics, downhole geophysics, induced polarization (IP) surveys, ground sampling, and a Phase 1 drill program to better understand the mineralization. The ultimate objective is to confirm and expand known mineralization and work towards an official resource estimate—just as Yorbeau Resources accomplished at Rouyn.
In the long run, Opawica believes that successful execution of its plan will unlock a significantly greater valuation. This sentiment is backed up by corporate actions. Since joining Opawica in 2020, CEO Blake Morgan has become the company's largest shareholder, . Â This commitment exemplifies his confidence in the company's trajectory and long-term prospects.
Fiscally, Opawica rests in a strong financial position to execute its plan after the Company raised $2.4 million between November and December 2024 bolstering its treasury for 2025. With gold prices exceeding US$2,900 per ounce and with interest in emerging gold projects is at an all-time high, the Company is positioned to drive strong shareholder value in 2025.
In the meantime, investors await the next round of assay results from Bazooka, expected to be reported in the spring of 2025. Positive results could suggest that Bazooka is poised to become the next major underexplored gold discovery in the Abitibi Gold Belt. To illustrate the significance, one needs to look no further than Lac Gold's Rouyn property, located directly to the east.
Mr.Yvan Bussieres, P.Eng., has reviewed and approved the technical content of this news release. * The Qualified Person has been unable to verify the information on the adjacent properties. Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the Company's properties.
*Yorbeau Resources Inc. NI43-101 October 2011, on the Rouyn Property, Total Measured and Indicated Resources are estimated at 247,000 t at 6.08 g/t Au containing 48,300 gold ounces. Inferred Resources total 633,000 t at 7.79 g/t Au for 158,800 gold ounces (sedarplus)
About Opawica Explorations Inc.
Opawica Explorations Inc. is a junior Canadian exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi Gold Belt in Québec. The Company's management has a great track record in discovering and developing successful exploration projects. The Company's objective is to increase shareholder value through the development of exploration properties using cost effective exploration practices, acquiring further exploration properties, and seeking partnerships by either joint venture or sale with industry leaders.
FOR FURTHER INFORMATION CONTACT:
Blake Morgan
President and Chief Executive Officer
Telephone: 236-878-4938
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR+ at www.sedarplus.ca. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
Copyright (c) 2025 TheNewswire - All rights reserved.
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Quimbaya Gold Inc. (CSE: QIM) (OTCQB: QIMGF) (FSE: K05) ("Quimbaya Gold" or the "Company") is pleased to announce that the Company has executed the final payment of 4 contract concessions totalling 1624 hectares in the Tahami project area. The company was able to amend the last payment terms of these concessions from $200,000 USD to $135,000 USD.
"We are pleased that we were able to secure these important land packages with the final payments on our highly prospective Tahami area on amended terms that represented a 30% savings from the original last payments", stated Alexandre P. Boivin, President and CEO.
The company also announces that it has extended the expiry date of an aggregate of 1,589,344 outstanding warrants of which 1,241,070 warrants were issued in connection with the closing of a non-brokered private placement on June 5, 2024 (the "June Warrants") and 348,274 warrants were issued in connection with the closing of a non-brokered private placement on November 1, 2024 (the "November Warrants").
The initial exercise price of the June Warrants and the November Warrants is $0.75 and remains unchanged. The June Warrants have an original expiration date of June 5, 2025 and the November Warrants have an original expiration date of November 1, 2025. The Company proposes to extend the expiration date of the June Warrants and November Warrants by one additional year to June 5, 2026 and November 1, 2026, respectively (the "Amendment"). All other terms and conditions of the June Warrants and the November Warrants will remain unchanged.
The Amendment is subject to final Canadian Securities Exchange (the "CSE") approval, as applicable. No action will be required on the part of the holders of the June Warrants and the November Warrants to give effect to the Amendment. In accordance with the requirements of the CSE, the terms of any warrants issued as compensation warrants or as finder warrants are not eligible for amendment.
528,570 of the June Warrants and 153,600 of the November Warrants are owned by insiders of the Company, representing 42.6% and 44.1%, respectively, of the aggregate number of warrants. As a portion of the June Warrants and the November Warrants are held by insiders of the Company, the Amendment may constitute a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). A material change report will be filed with respect to the Amendment as it pertains to insiders. The Amendment are exempt from the formal valuation and minority shareholder approval requirements under MI 61-101 as neither the fair market value of the June Warrants and the November Warrants issued to insiders nor the cash consideration paid for such June Warrants and November Warrants exceeds 25% of the market capitalization of the Company.
About Quimbaya Gold
Quimbaya is active in the exploration and acquisition of mining properties in the prolific mining districts of Colombia. Managed by an experienced team in the mining sector, Quimbaya is focused on three projects in the regions of Segovia (Tahami Project), Puerto Berrio (Berrio Project), and Abejorral (Maitamac Project), all located in Antioquia Department, Colombia.
Contact Information
Alexandre P. Boivin, President and CEO apboivin@quimbayagold.com
Jason Frame, Manager of Communications jason.frame@quimbayagold.com
Quimbaya Gold Inc.
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Cautionary Statements
This news release contains forward-looking statements and/or forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. When used in this release, such words as "would", "will", "anticipates", believes", "estimates", "potential", "explores" "expects" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Such forward-looking statements reflect the current views of the Company with respect to future events, and are subject to certain risks, uncertainties and assumptions. Many factors could cause the Company's actual results, performance or achievements to be materially different from any expected future results, performance or achievement that may be expressed or implied by such forward-looking statements. Certain information and statements contained in this news release constitute forward-looking statements, which reflects the Company's current expectations regarding future events, including but not limited: the initial depth of the Initial Drilling Campaign, if any; the successful completion of the Initial Drilling Campaign program and any future drilling under the initial contract, should they proceed, if at all; the ability of the Company to finance and execute its planned and future exploration activities; the quality of service and reputation of the Drilling Providers; the effectiveness of any potential drilling results in defining mineral resources or leading to a commercial discovery; the timing and process for the release of escrowed Consideration Units to the Drilling Providers; the anticipated cost of the Initial Drilling Campaign, if any, which may be subject to overruns; the receipt of regulatory approvals; the obligation for future updates as it relates to the Initial Drilling Campaign or future campaigns; and the initial and the overall success and advancement of the Company's projects.
Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: the high degree of uncertainties inherent to feasibility and economic studies which are based to a significant extent on various assumptions; variations in commodity prices and exchange rate fluctuations; variations in cost of supplies and labour; lack of availability of qualified personnel; the quality of word provided by the Drilling Providers, if any; the receipt of necessary approvals; availability of financing; uncertainties and risks with respect to exploration and drilling; general business, economic, competitive, political and social uncertainties; certainty that finalized the commercial agreements will be successfully executed; risk of costs overruns with the Initial Drilling Campaign or future campaigns, if any, assurance that the final terms will align with those initially agreed upon or that the Initial Drilling Campaign will proceed as anticipated; timelines for drilling, if at all; obtaining required approvals of regulatory authorities; ability to access sufficient capital from internal and external sources; any assurances that the Company's stock price will appreciate or maintain its current value; and the fact that the transaction will result in dilution to the Company's existing shareholders, which may impact the market value of their holdings. The Company cautions that there is no guarantee that the planned Initial Drilling Campaign, if commenced, will yield successful results, identify mineral resources, or lead to further exploration or development. Exploration activities are inherently speculative, and drilling results may be inconclusive, insufficient, or unfeasible for further development. The cost estimates provided are subject to change, and the ability of the Company to continue exploration depends on factors such as market conditions, commodity prices, regulatory approvals, and access to additional funding. Additionally, the issuance of Consideration Units as compensation may remain subject to regulatory and exchange final approval, and there is no assurance that such approval will be obtained. The securities issued in connection with this transaction may be subject to resale restrictions under applicable securities laws and CSE policies. For a more fulsome additional list of risk factors please see the Company's December 31, 2023, year-end Management Discussion and Analysis ("MD&A"), 2024 third-quarter MD&A, available of SEDAR+ at www.sedarplus.ca.
Management of the Company has included the above summary of assumptions and risks related to forward-looking statements provided in this release in order to provide shareholders with a more complete perspective on the Company's current and future operations and such information may not be appropriate for other purposes. The Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements included in this news release should not be read as guarantees of future performance or results. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.
Neither CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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