Brightstar Resources

Cork Tree Well Diamond Drilling Returns Spectacular Intercept of 27.6m @ 17.8g/t Au

Brightstar Resources Limited (ASX: BTR) (Brightstar) is pleased to announce the second round of priority assay results from the remaining two metallurgical diamond drillholes at Cork Tree Well (CTW) within the Laverton Gold Project (LGP). These two holes were part of a broader 20 hole diamond drilling program1 which has now been successfully completed.


HIGHLIGHTS

  • Assays received from the final two metallurgical diamond holes completed at Cork Tree Well with bonanza-grade gold assays up to 1028.37g/t Au
  • High-grade results substantiated by numerous observations of visible gold in both drill holes
  • Intercepts returned include 27.6m @ 17.77g/t Au from 51m (CTWMET003)
  • CTWMET003 was drilled into the unmined central deposit at Cork Tree Well, with the gold mineralisation entirely contained within a dolerite - quartz breccia unit
  • Intercepts returned below the historical shallow open pit within CTWMET001 include:
    • 11.4m @ 3.1g/t Au from 133.5m (estimated true width), and
    • 8.3m at 1.45g/t Au from 120.7m (estimated true width)
  • Twenty-hole diamond drilling program successfully concluded with metallurgical and geotechnical testwork underway to feed into PFS workstreams
Brightstar’s Managing Director, Alex Rovira, commented“It is great to see further high-grades assays continuing and visible gold being observed from the diamond drilling program that has recently been completed at Cork Tree Well. CTWMET003 returned an excellent high-grade, shallow intersection of 27.6m @ 17.77g/t Au from 51m, which complements the previously announced2 intersections which included a strong result of 34.4m @ 7.94g/t Au (CTWMET004) drilled 1km to the north.

The drilling campaign represented the first diamond holes drilled at Cork Tree Well by Brightstar, with our understanding of the geology and mineralisation styles being strengthened by the knowledge being gained from this recently completed program.

Today’s results continue to reinforce our view that the gold mineralisation at Cork Tree Well is structurally hosted, with a mafic metadolerite host rock observed in CTWMET003 whilst gold mineralisation returned in CTWMET001 is positioned within the sedimentary package underneath the historically mined shallow open pit.

The four metallurgical drillholes (CTWMET001 – 004) were drilled into the known orebody locations that fall within the optimised $2,750/oz pit shells generated in the 2023 Scoping Study3, with CTWMET003 and CTWMET004 drilled down plunge to the orebody to deliver maximum rock mass for metallurgical testwork and CTWMET001 and CTWMET002 drilled perpendicular to the orebody and represent estimated true width.

Given the calibre of the assays received from the drilling to date, Brightstar continues to see strong potential to build on the existing 303koz @ 1.4g/t Au Mineral Resource4 both at depth with high-grade plunging shoots and strike extensions targeting the structurally-controlled mineralised trends. The high-grade results returned to date are significantly higher than the current 1.4g/t Au head grade of the Mineral Resource and 1.85g/t mine grade from the 2023 Scoping Study, representing significant upside.

We look forward to updating shareholders with more information on the diamond program, which forms the basis for metallurgical and geotechnical testwork workstreams within our ongoing Pre-Feasibility Study5.

Figure 1 - CTWMET003 at 54.05m, showing visible gold (VG, circled) with $2 coin (20.5mm diameter) for scale

Figure 2 - CTWMET001 at 138.75m, showing visible gold (VG, circled) with tape measure for scale

Table 1 - Significant Intercepts (>1g/t Au) for CTWMET001 & CTWMET003

Figure 3 - Q1/24 Diamond Drill Program – Cork Tree Well

Due to the nuggety and high-grade nature of the gold mineralisation observed in CTWMET001 and CTWMET003, multiple samples had repeat assays completed following from best QA/QC laboratory practice. The repeat fire-assays provided additional analytical insight into the nuggety nature of mineralisation in addition to the visible gold observed. Where multiple repeat assay runs occurred, an average of the results has been used in the reporting in Table 1 above and within this announcement. The full breakdown of the re-assayed samples are outlined below in Table 2-3.


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.

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The webcast materials will be available before the market opens on Thursday, April 25th on the "Investor Relations" section of the Company's website, www.newmont.com . Additionally, the conference call will be archived for a limited time on the Company's website.

________________

1

For toll-free phone numbers, refer to the following link: https://www.netroadshow.com/events/global-numbers?confId=49005

About Newmont

Newmont is the world's leading gold company and a producer of copper, zinc, lead, and silver. The Company's world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social, and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Newmont was founded in 1921 and has been publicly traded since 1925.

Media Contact
Jennifer Pakradooni
globalcommunications@newmont.com

Investor Contact
Neil Backhouse
303-837-5002
investor.relations@newmont.com

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