First Results Returned from Link Zone Drilling Confirm Multiple Shallow Stacked Lodes

Brightstar Resources Limited (ASX: BTR) (Brightstar) is pleased to announce the first results from the large reverse circulation (RC) and diamond drilling (DD) program across the broader 1.45Moz Brightstar & Linden Gold (subject of an off-market takeover offer2) portfolio. This program is targeting gold mineralisation within delineated pit shells and underground designs outlined within Brightstar’s Scoping Studies3,4 along with near-term development assessment of the Link Zone deposit comprising Westralian Menzies, Merriyulah and Golden Dicks deposits.

HIGHLIGHTS

• The first results of gold assays from five holes have returned consistent +1g/t Au grades from RC drilling, part of the +30,000m drilling program1, targeting resource upgrades & extensions in conjunction with feasibility workstreams across Brightstar’s portfolio
• Drilling completed at the Link Zone deposit with initial results confirming mineralisation within and below A$3,000/oz Au optimised pit shells at shallow depths
• Intercepts returned at Merriyulah (part of the Link Zone deposits) include:
  • LZRC24001:
    • 2m @ 3.9 g/t Au from 45m, 2m @ 1.4 g/t Au from 30m, and 1m @ 1.1 g/t Au from 4m
  • LZRC24004:
    • 5m @ 1.3g/t Au from 28m, and 1m @ 3.5g/t Au from 47m
  • LZRC24005:
    • 1m @ 4.3g/t from 27m, and 1m @ 1.1g/t Au from 15m
  • LZRC24003:
    • 4m @ 1.8 g/t Au from 38m
  • LZRC24002:
    • 4m @ 1.1 g/t Au from 29m
• Assays pending for remaining 25 holes completed at Link Zone, with RC drill rig relocated to adjacent Lady Shenton System targeting areas for infilling and resource confidence growth

The RC program has commenced at Menzies, with the Link Zone drilling program now complete and drilling continuing across the Lady Shenton System. Link Zone is located ~1km south of the 287koz Lady Shenton deposit and ~1km north of the 43koz Lady Harriet System at the Menzies Gold Project (MGP).

Drilling at Link Zone was focused on small, discrete areas based upon A$3,000/oz Au optimised pit shells with information to be utilised to potentially upgrade mineralisation into the Measured & Indicated Mineral Resource Estimate (MRE) categories, ahead of further technical studies and a “Decision to Mine” towards potential development of a small-scale mining operation similar to the successful campaign completed at the Selkirk deposit which generated $13 million in profits5.

Brightstar’s Managing Director, Alex Rovira, commented “These early drilling results follow from the successful completion of exploration campaigns by Brightstar at Menzies in the past twelve months. Results presented in this release make up 5 of the 6 holes drilled into the Merriyulah portion of the deposit, with results providing validation of the existing Link Zone Mineral Resource of 21koz Au, which includes a higher-grade core of 7koz @ 1.9g/t Au (at a 1.5g/t Au cut-off grade)6. Notably, assays remain outstanding for the parallel deposits of Golden Dicks and Westralian Menzies, along with upcoming results from the Lady Shenton system where drilling is ongoing.

The Link Zone deposits are a near surface opportunity with potential for strong economics given the shallow depth to mineralisation and favourable ore body geometry with immediate proximity to existing infrastructure. Following completion of the initial RC campaign at Menzies, the rigs will then mobilise to Brightstar’s Laverton Hub with the high grade Second Fortune orebody to be targeted at depth for mine planning purposes.

With the success of the Selkirk Mining JV, which generated an excellent outcome earlier this year from the recovery of ~7,500 oz Au, we are looking forward to receiving the outstanding Link Zone assays and updating the resource confidence in the Link Zone MRE. This will be followed by further optimisation studies evaluating a potential small- scale mining campaign.

The RC rig has since moved to the Lady Shenton system, with infill drilling at Stirling & Pericles targeting resource confidence upgrades and metallurgical samples, to inform an updated MRE and potential upgraded mining inventories as part of the Pre-Feasibility workstreams presently underway”.

Figure 1 - Link Zone location within broader Menzies Gold Project

Figure 2 - Link Zone completed drilling program and Lady Shenton system drilling program underway.Cross section A-A’ within inset is displayed in Figure 3

TECHNICAL DISCUSSION

30 drill holes were completed at Link Zone (Figures 1 & 2), with assays received so far for five holes and the remainder outstanding as detailed in Tables 1 & 2. All five reported holes (LZRC24001 - LZRC24005) were drilled in the central Merriyulah deposit, with one hole pending analysis and the remainder located at Westralian Menzies and Golden Dicks deposits. The completed holes at Link Zone were targeting both extensions to the mineralisation at shallow depths and infilling areas within the MRE to upgrade mineral resource classification to underpin mining studies.

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.