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Star Minerals Limited (ASX: SMS, “the Company” or “Star Minerals”) is pleased to advise that it has received the assay results from its phase 2 reverse circulation (RC) gold drilling campaign at the “Star of the East” project.
HIGHLIGHTS
- Gold assays received for phase 2 reverse circulation drilling at Star of the East
- Phase 2 drilling assays include:
- 5m @ 2.45 g/t Au in hole SRC017 from 9m downhole
including 3m @ 3.16 g/t Au from 10m downhole - 3m @ 3.24 g/t Au in hole SRC009 from 52m downhole
- 3m @ 2.68 g/t Au in hole SRC010 from 34m downhole
- 5m @ 2.45 g/t Au in hole SRC017 from 9m downhole
- Drilling was designed to extend known mineralisation at the Prospect
- Review of the model is in progress to support final Project evaluation
Star Minerals’ Chair, Ian Stuart commented:
“The drill program at Star of the East was efficiently executed, with a strategy to test the deposit for extensions.
Project review on the available data, as validated by Star Mineral’s drill testing during phase 1 and now phase 2 is in progress to evaluate the potential value of the deposit.”
The phase 2 drilling program consisted of 10 RC holes which were completed for a total of 757m. Including the phase 1 drilling of 294m over 7 holes, Star Minerals have now drilled a total of 17 holes for 1,051m of RC drilling, to ensure a considered evaluation of the Star of the East Project is completed.
Star of the East is a historic high-grade gold mine in the Murchison region of Western Australia, first mined in 1897 after discovery by prospectors. Tenement E51/1561 contains evidence of this historic work, with an old shaft and other remnants of previous activity. Records indicate that the mine produced around 27,700oz gold, working along a main lode down to around 50m depth.1
Drilling has tested extensions of the Star of the East gold deposit to the east, west and down dip of the existing high density of drilling focused on the turn of the 19th Century mining works in the shallow portion of the deposit.
Star Minerals has right to drill at the Star of the East Project due to an access agreement signed as part of an option agreement for the Project with the holders of the tenement.
Figure 1 shows the wider regional overview with Star of the East part of the Tumblegum South Project Area, around ~40km to the South of Meekatharra; Figure 2 below shows a more detailed view of the Star of the East and Tumblegum South tenements.
Figure 1 - Star of the East location, part of the Tumblegum South Project area
Figure 2 - Star of the East and Tumblegum South tenement location.
Drill collars at the Star of the East Project are shown in Figure 3 below, symbolised by drill era.
Intercepts of significance from phase 2 drilling include:
- 5m@ 2.45 g/t Au from 9m depth on hole SRC017, including:
- 3m @ 3.16 g/t Au from 10m depth
- 3m @ 3.24 g/t Au from 52m depth on hole SRC009
- 3m @ 2.68 g/t Au from 34m depth on hole SRC010.
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SMS:AU
Star Minerals
Overview
Star Minerals (ASX:SMS) is a gold and copper exploration and development company focused on Western Australia, a region the Fraser Institute index has identified as a top mining jurisdiction for investment attractiveness, hosting some of the world’s most significant gold operations. Star Minerals owns three gold projects in Western Australia: its flagship project Tumblegum South, the West Bryah project and the Star of the East project.
More than 66 gold mines operate throughout Australia, including 14 of the world’s most significant gold operations. Western Australia accounts for nearly 70 percent of Australia’s total gold production.
Market analysts have indicated the global mined supply and physical demand for gold appear robust through year-end 2026. Mining projects in Western Australia are poised to capitalize on the state’s potential and benefit from the projected increase in demand.
Star Minerals’ Tumblegum South project is advancing toward production. The maiden mineral (inferred) resource estimate for the project announced in 2020 totals 600,000 tonnes, at a grade of 2.2 g/t gold. Phase 2 drilling provided excellent assay results, including 4 meters at 16.9 g/t gold and 3 meters at 14.74 g/t gold. These results confirmed Star Minerals’ previous interpretation of both geology and grade. In September 2022, Star Minerals commenced stage 3 resource-definition drilling to further define and expand on the current gold resource. Results of the completed diamond drilling activity prove gold mineralization with assays of 2.1 meters @ 20.49 g/t gold in hole BGDD002 from 26.7 meters downhole, 0.94 meters @ 42.59 g/t gold from 26.7 meters downhole and 0.4 meters @ 41.5 g/t gold in hole TDH004 from 62.7 meters downhole.
CEO Greg Almond confirmed progress at the flagship project in an interview. “Currently, we’re working on further exploration work at Tumblegum South. We’ve had drilling ongoing that’s just been completed. We’ve got environmental and engineering studies underway, and our intention is to bring that deposit into production.”
Star Minerals has two additional gold assets in Western Australia — the West Bryah project and the Star of the East project. The company is collaborating with Bryah Resources Limited (ASX:BYH) as it moves forward with exploration at the West Bryah project, initially focusing on soil sampling and rotary air blast (RAB) drilling set to commence in 2024.
The Star of the East project has promising non-JORC historical gold resources, with past production of 27,700 ounces. Star Minerals confirmed gold mineralization at the project through assay results from Phase-1 drilling which include 14 meters @ 8.3 g/t gold in hole SRC003 from 15 meters downhole, 8 meters @ 14.2 g/t gold from 18 meters downhole, 6 meters @ 4.95 g/t gold in hole SRC007 from 9 meters downhole and 4 meters @ 2.44 g/t gold in hole SRC006 from 16 meters downhole.
An experienced management team leads the company toward its goal of becoming a significant gold producer in Western Australia. Its management team and board members include experts in corporate and international finance, geology and project development. This range of experience throughout the mining industry builds confidence in the team’s ability to develop its promising assets fully.
Company Highlights
- Star Minerals is a gold and copper-focused exploration and development company with three assets in Western Australia.
- Stage 3 resource-definition drilling has commenced at the company’s flagship project, Tumblegum South.
- The maiden mineral (inferred) resource estimate for the project totals 600,000 tonnes, at a grade of 2.2 grams per ton (g/t) gold.
- Star Minerals owns two additional gold assets at varying stages of exploration moving towards development: West Bryah and Star of the East.
- The West Bryah project is a collaboration between Star Minerals and Bryah Resources, with both companies contributing to current exploration campaigns.
- The Star of the East project is a recent acquisition, and the company aims to generate JORC-compliant resource estimates using the data from the company’s 2022 reconnaissance gold drilling campaign.
- The company is led by an experienced management team with expertise throughout the mining industry, creating confidence in the team’s ability to reach its goals.
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Progressing towards gold production in Western Australia
Star Minerals: Rapidly Moving Towards Production in Western Australia
Star Minerals (ASX:SMS) advances projects in Western Australia, a region the Fraser Institute index has identified as a top mining jurisdiction for investment attractiveness, hosting some of the world’s most significant gold operations. The company owns three gold projects in Western Australia: its flagship project Tumblegum South, the West Bryah project and the recently acquired Star of the East project.
More than 66 gold mines operate throughout Australia, including 14 of the world’s most significant gold operations. Western Australia, where Star Minerals operates, accounts for nearly 70 percent of Australia’s total gold production.
Market analysts have indicated the global mined supply and physical demand for gold appears robust through year-end 2026. Mining projects in Western Australia are poised to capitalise on the state’s potential and benefit from the projected increase in demand.
Company Highlights
- Star Minerals is a gold and copper focused exploration and development mining company with three assets in Western Australia.
- Stage 3 resource-definition drilling has commenced at the company’s flagship project, Tumblegum South.
- The maiden mineral (inferred) resource estimate for the project totals 600,000 tonnes, at a grade of 2.2 g/t gold.
- Star Minerals owns two additional gold assets at varying stages of exploration moving towards development: West Bryah and Star of the East.
- The West Bryah project is a collaboration between Star Minerals and Bryah Resources, with both companies contributing to current exploration campaigns.
- The Star of the East project is a recent acquisition, and the company aims to generate JORC-compliant resource estimates quickly. Initial drilling is currently underway.
- The company is led by an experienced management team with expertise throughout the mining industry, creating confidence in the team’s ability to reach its goals.
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