Cork Tree Well Drilling Returns Significant Extensional And Infill Results Up To 109 G/T AU

Brightstar Resources Limited (ASX: BTR) (Brightstar) is pleased to announce it has received the assays from its +2,000m RC drilling program at Cork Tree Well (CTW), located 30km north of Laverton in the prolific Laverton Gold Belt of Western Australia.

HIGHLIGHTS

• Results from the 9 hole, +2,000m RC drilling program at Cork Tree Well have been received with numerous high-grade hits including:
  • 1m @ 109.6g/t Au from 167m and 3m @ 8.7g/t Au from 197m (BTRRC224) - Delta
  • 18m @ 2.75g/t Au from 83m (BTRRC225) - Delta
  • 9m @ 3.05g/t Au from 203m (BTRRC229)
  • 13m @ 1.24g/t Au from 156m (BTRRC232)
• Delta is currently the northern-most section of the Cork Tree Well system defined to date and is open for a further 3km along strike to the north
• Delta is the highest-grade area with no historical mining and represents the first likely area of mining in a future mining scenario
• A ~4,500m aircore drilling campaign at Cork Tree Well is commencing in September, targeting extensions to the north with +3km of untested and highly prospective strike
• Scoping Study for the Menzies and Laverton Gold Projects nearing completion

“We are pleased to receive the final assays from the Laverton Gold Project RC program, after successful completion of the recent drilling at Menzies. The Cork Tree Well program had two defined objectives – the first being infill drilling at the Delta zone within the CTW mineral resource to provide better understanding on the structures controlling the higher-grade mineralisation, and the second to test the higher grade plunging shoot within the CTW main system as a follow up to drilling earlier in the year, which indicated mineralisation that has the potential for possible extraction using underground mining methods.

At Delta, the three-hole program saw the holes drilled on different orientations to the historic drilling that has previously tested the broadly North-South striking system at CTW. Encouragingly, the results indicate that the structures containing the mineralisation are different to the main CTW zone and see both a lithological and orientation change, which may be due to the confluence of multiple structures hosting the gold mineralisation. This requires further follow up and significantly increases the potential for definition of further mineralisation at Delta and to the north, which is open for a further 3km. Brightstar has booked aircore drilling contractors to mobilise in early September for a ~4,500m campaign, which is intended to define targets for follow up RC drilling.

With the scoping study nearing finalisation, planning for further RC and Diamond drilling at Menzies and Laverton is underway to commence later in the year in order to continue to grow the mineral resource base, upgrading resources within early-stage mining areas, and advance the projects towards near term production opportunities.”

Figure 1 - Plan View with RC collar locations and section lines

Technical Discussion – Cork Tree Well

The drilling program at Cork Tree Well was focused on two defined areas, namely the Delta Prospect to the north, and a high-grade plunging shoot within the main CTW ore body. The results are displayed in Table 1, where significant intercepts were recorded in eight of the nine holes drilled. The drill hole collar locations and cross / long section lines are indicated in the plan view in Figure 1.

The gold mineralisation in the Cork Tree Well historically mined pits and main MRE zone is associated with steep east dipping sedimentary units, in particular the chert horizon located on the footwall of the sediment sequence. The mine area consists of footwall, high magnesium basalts altered to chlorite schist overlain by shales containing chert and banded iron beds and younger hangingwall basalts.

Figure 2 - Long Section of CTW Mineral Resource with Delta displayed as the northern-most MRE envelope (right-hand side)

Delta Target

The mineralisation at Delta to the north of Cork Tree Well is associated with a sheared granophyric dolerite within a talc chlorite schist host, with an underlying ultramafic footwall which contrasts with the general CTW mine geology sequence. Gold at Delta is associated with quartz stringers within the granophyric dolerite, which has resulted in Brightstar’s geological theory being refined to gold mineralisation being linked to brittle-ductile deformation as replicated elsewhere in the Laverton district.

The drilling at Delta was completed on different azimuths to the historical drilling, which has largely been completed on a 260-degree orientation to test the perceived NNW-SSE strike direction in accordance with the main mineralisation at CTW. Whilst this orientation for drilling is suitable for the main CTW ore body, the Delta area appears to host significantly higher grades with multiple lodes and different perceived orientations that may be the result of multiple different mineralising events and geological controls. Further drilling, including diamond drilling, is being planned to provide further geological information and assessment.

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